Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Kitsap PFD reviews multi-year financial forecast, ILAs and HB 1109 extension
Summary
Municipal advisors presented a forecast through 2041 showing revenue from the county sales-tax rebate, existing ILAs and projected debt service; board discussed stress tests and the pending state bill HB 1109 to extend the sales-tax rebate authority.
Kitsap Public Facilities District board members heard a financial outlook on Feb. 24 from municipal advisors Ryan Neumeister and Scott Bauer that modeled sales-tax rebate revenues, existing interlocal agreements (ILAs) and several bond-issuance scenarios through 2041.
The advisors presented a baseline sales-tax growth assumption of 2.5% annually and two stress scenarios (a 2% flat case and a near-term dip with 0% growth in 2025 followed by 1% in 2026). They reported the district recorded an increase in fund balance of about $725,000 in 2024 but projects to use roughly $1.7 million of fund balance in 2025 to cover planned cash payments for design and early construction activity. The presentation listed current ILAs and letters of intent with local sponsors: Poulsbo Event and Recreation Center ($8,700,000 ILA, expires end of 2027), Port Orchard Community Event Center ($12,000,000…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
