Phoenix LXIV: Will You Still Need Me, Will You Still Read Me, on Thread LXIV?
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11-12-2012, 02:19 PM
Join Date: Nov 2009
Location: Bay Area, CA
Originally Posted by
The FY 2011 repayment schedule is 1 million per year for 25 years IIRC (it's in the 2011 annual report). So starting in 2014, the general fund expense will be the AMF at that time, but the GF will be reduced by AMF+2 million for the next 25 years (1 million each for the 2011 and 2012 transfers). No big payment in 2014.
That's my understanding as well.
- GF/HURF pays back $1.1MM per year on the first NHL fee.
- For the 2nd NHL fee, this year is only transferring the $20MM out of the Vehicle Replacement, PC Replacement, Water and Sewer.
- Repaying that 2nd fee starts in FY14 at ~$1.1MM per year from the GF.
There are no ballon payments from the GF on the AMFs. Barney has a good point: From a GF perspective, there's already a $2.2MM annual liability to repay the two NHL fee years. That is separate and, in addition to, any AMF paid to JIG in a potential new lease.
The ballon payments that are due this year, which are currently unfunded, are GF liability to replenish the mandatory Risk and Workers Comp funds to reconcile the Beasley Transfers. (*They might also want to find out how many other accounts were involved in Fast Eddie's Fund Mania.)
Last edited by CasualFan: 11-12-2012 at
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