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CITY COMMISSION AGENDA ITEM |
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Department: |
Finance Department |
Commission Meeting Date: May 14, 2019 |
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Staff Contact: |
Jeremy Willmoth, Finance Director |
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Recommendations/Options/Action Requested: |
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Review proposed 2020-2024 Capital Improvement Plan (CIP) and direct staff as appropriate. |
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Executive Summary: |
As part of the 2020 budget process, staff has prepared the proposed 2020-2024 Capital Improvement Plan (CIP) for consideration. This, along with other financial forecasting tools, is important for financial planning and prioritization of limited resources.
The CIP consists of projects that exceed $100,000 and have an expected life of at least 2 years. The proposed CIP will be presented to the Planning Commission to ensure conformance with the City’s Comprehensive Plan. The final CIP will be adopted as part of the budget process and changes that are made between now and August will be presented during the upcoming budget presentations.
The proposed CIP is balanced within five-year projections. Approximately 25% of requested projects are unfunded. There are a number of facility requests, equipment needs and deferred maintenance requests that were unable to be funded within current revenue projections.
It should be noted that the CIP is tentative pending adoption of the operational budgets. The City Manager’s Recommended Budget presentation will be June 18 and will outline the proposed operating budget and any changes made to the CIP. |
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Strategic Plan Critical Success Factor |
Effective Governance/Professional Administration Safe, Healthy, and Welcoming Neighborhoods Innovative Infrastructure and Asset Management Core Services Sound Fiscal Stewardship Collaborative Solutions |
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Fiscal Impact (Amount/Source): |
The 2020-2024 CIP as presented has a five-year cost of $300,958,880. The 2020 impact is anticipated to be $61,763,880 across all funds. |
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Attachments: |
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Reviewed By: (for CMO use only) |
☐TM ☐DS ☒CT ☐BM |