Transfer Analysis - Issuance of Bonds with No Tax Increase

About the Program

Category: Financial Management (Best in Category)

Year: 2009

San Juan County needed funding to build a new Sheriff’s facility, expand the District Court facility, and remodel the old Sheriff’s facility. The County was faced with the challenge to issue the new bonds without increasing taxes paid by citizens. The Finance Department implemented a Transfer Analysis program to meet this goal. All departments funded by General Fund revenues were instructed to analyze each employee’s duties and the time they spend performing tasks for other departments funded by special revenues. This information was used to “charge” these other departments for the services they receive from the General Fund. The Transfer Analysis brought in over one million dollars in new annual revenues to the General Fund, offsetting the annual debt service required on the new bonds. The Transfer Analysis program allowed the County to issue $17,450,000 in new bonds for the needed projects without increasing taxes.