Executive Board:1/9/2024 (Finance Handouts, 1/9/2024)

**Executive Summary of Leelanau County Financial Overview**

**Overall Financial Commitment**
Leelanau County has made considerable financial commitments towards various projects with a total estimated cost of $21,300,000. This includes a specific commitment of $6,100,000 towards the Point Broadband Project, with an American Rescue Plan Act contribution of $4,226,819. Key financial obligations include structured payments to DCS Technology for project management and broadband surveys, which are ongoing through 2024 with remaining funds of $858,187 uncommitted.

**Broadband Project and Financing**
The Point Broadband initiative represents a significant five-year project with total anticipated costs of $5,000,000, of which $3,200,000 is allocated from ARPA funds. The project includes detailed payment plans and estimations such as a proposed payment plan of $60,000 for Charter 2024 work and various expenditures related to the broadband deployment, including comprehensive oversight from authorized engineering firms. Current expenditures related to broadband and infrastructure substantially align with county funding strategies, showcasing effective fiscal management.

**Expenditures and Future Projects**
The financial report also highlights pending statutory commitments to various drainage districts and future capital improvement projects estimated at $175,000, underscoring an attention to infrastructure stability and community essentials. Additionally, future projects for 2024 include enhancements to parks, telephony recorder installations, which are aligned with broader strategic goals, maintaining a flexible financial approach to emergent community needs while ensuring adequate budgetary considerations.

**Drainage District Financing**
An overview of the drainage district projects indicates total costs of $2,300,000, with a county share of $445,000. Specific projects include South Bar Lake and Timberlee, among others, emphasizing ongoing investments in environmental management and local governance capabilities. The outlined documentation demonstrates a comprehensive approach in managing both current obligations and planned future expenditures, establishing a foundation for sustainable fiscal practices.