The Sammamish transportation fund will be nearly depleted by 2020, a forecast shown the City Council July 7 indicates.
In a staff presentation outlining the six year Transportation Improvement Program (TIP) planning document, a requirement under state law, focus was on the projected budget through 2019. During this period, Staff emphasized the prospect of obtaining grants, revenue from the Klahanie annexation and other fees that will support a variety of road projects.
But little discussion occurred on the declining fund balance projections beginning in 2017 and the dramatic drop offs thereafter to virtually no balance in 2020 or 2021.
The ending fund balance projected net year is $16.3m. This declines slightly in 2017, then to $10.5m in 2018 and $4.2m in 2019 before going to near-zero in 2020: a mere $114,489 is projected as the ending fund balance then, with a further decline to $107,323 the year after.
Not one City Council member focused on these numbers.
The link to the presentation is here. PDF Page 4 has the relevant chart.
Deputy Mayor Kathy Huckabay made a point of remarking that the table does not include two “big” projects that will bring in about $5m. Neither she nor City Manager Ben Yacizi, who chimed in to thank her for making the point, named the projects, but given the size of the amount of money mentioned, I think it must be part of the Town Center development. If this is the case, a good portion of the money will go toward the SE 4th St. project in the TIP table. Other monies would go to other Town Center improvements and related projects that might be affected outside the immediate Town Center area.
However, no information was provided concerning the allocation of $5m, over what time period and whether any of these monies would go for impact improvements not listed on the TIP.
Absent this detail, the TIP ending fund is headed toward depletion in five years.