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<br />001207 <br /> <br />10 <br /> <br />The recommended Financial element developed from these legal <br />requirements is represented by a flow of decisions and money as <br />illustrated in Figure 11-1. The element is divided into two functional <br />components: Cost Apportionment and Cost Adjustment. <br />Cost Apportionment -- The apportionment process begins after a <br />reasonable drainage plan has been prepared. From this plan, the <br />project costs are estimated and the special and general benefits <br />are computed. If the total benefits are less than the total costs, <br />and the nonquantifiable aspects of the project (aesthetics, political <br />issues, etc.) do not override the economic analysis, the project is not <br />viable and the process is terminated. If the project is viable, the <br />process divides into financial actions and planning actions. <br />1. Financial actions: <br />a) The special and general portions of project cost are <br />computed. <br />b) The general portion is apportioned to the community <br />through encumbrances on the general fund, issuance of <br />general obligation bonds, etc. (see Ref. 12 for a review <br />of the various general financing alternatives). <br />c) The special portion is apportioned to developers as <br />they request subdivision plat approval using anyone of <br />a number of allocation formulas (see Ref. 22 and 23). <br />The writer recommends an allocation formula based on <br />land area and land use. It includes the major hydrolo- <br />gic factors, yet is simple enough for easy computation <br />and administration. <br />