12.A. SR 10-17-2011~~5'
Item # 12.A.
MEMORANDUM
1VY'
TO: Mayor and City Council
FROM: Tim Simon, Finance Director
DATE: October 17, 201 1
SUBJECT: 2012-2016 Capital Improvement Plan
The purpose of this discussion is to provide preliminary information regarding projects
proposed to be funded. The review and final document is prepared to anticipate major
expenditures in advance of the year they may become budget requests. Projects listed in the
first year (2012) are included in the budget and upon each annual update of the CIP some
projects will be deleted, added, or even delayed. Much of our discussion will focus on the
2012 portion of the CIP. After we review the cash flows. and projects, I will be putting
together the document for approval in December.
Park Improvement Fund (Exhibit A)
The park improvement fund was created to provide a funding source for replacement and
further build out/repairs of our current parks/trails. The funding source is an annual
transfer from the municipal liquor store based on a percentage (20%) of profits after
approved transfers. The projects planned in 2012 and reviewed by the park and recreation
commission are playground safety repairs/supplies, court resurfacing, and trail repairs.
Government Building Reserve Fund (Exhibit B)
This fund covers building construction and maintenance, landscaping, and remodeling
projects for the municipal buildings. As discussed in the previous CIP's, we established
setting aside $50,000 annually for future building repairs such as roof or mechanical system
replacements. Gary Lore, Building Maintenance Supervisor, has estimated the
replacements/repairs over the next 20 years. These projects and numbers are estimates only
and will be updated annually. We will walk through the projects and reserve standards that
are set-up in case of emergency repairs/replacements. The main funding source aside from
interest earnings is the expansion fee.
The expansion fee is currently allocated 85% government building fund and 15% street
improvement reserve fund. The current model shows the allocation if changed to 100%
government building fund. The present value of the cash available is $3,315,995. This takes
into account the amount of debt remaining after 2034 on projects and discounted at 2%.
N:\Public Bodies\Ciry Council\Council RCA\Agenda Packet\10-17-2011\2012-201GCIPupdate101711[1].docx
Next steps:
The remaining CIP funds will be reviewed on November 14, 2011. Those funds will include
the following:
• Park Dedication Fund
• GRE Reserve Fund
• Technology Replacements
• Capital Outlay Reserve
• Development Fund
• Trunk Utilities Fund
N:\Public Bodies\Ciry Council\Council RCA\Agenda Packet\10-17-2011\2012-2016CIPupdate101711[lj.docx
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