Capital Improvement Program (CIP) and Long Range Financing
|Meeting Date:||February 20, 2007||Primary Staff Contact:||Paula Brown|
|Department:||Public Works / Engineering||Email:||firstname.lastname@example.org|
|Contributing Departments:||Finance||Secondary Staff Contact:||Lee Tuneberg|
|Estimate Time:||1 hour|
Same item postponed from original schedule of January 16, 2007
This item addresses Council's request to approve the FY08-13 Capital Improvement Program (CIP) prior to the budget process. Staff is presenting a recommended plan. Although the projects listed for FY08 are stable, there may be a need to include an emergency project or to revise actual project dollars, especially those projects that start in FY07 and carry over to the following year for completion. These details will be updated and included in the final FY08 budget process. Staff will update council of any changes between this list and the final budget preparations.
|Staff Recommendation: |
Although the CIP provides a rolling six year plan, it is only a plan. The greatest amount of detail and assurances are with the first year (FY08) and into the second year (FY09). Staff recommends that Council hear and discuss staff's proposal for the FY08-13 Capital Improvement Plan, modify or change the FY08 CIP project list, provide any clarifications or direction on the future "out years" for the FY09-13 CIP, and then adopt the FY08 CIP project list.
Staff brought the initial look of the City's CIP to council at a study session on December 4, 2006. The purpose of the study session was to:
A quick recap on the City's CIP development process:
Highlights of the FY08-13 CIP are included in the attached presentation. Staff will present the FY08 proposed project list in detail. You will notice on page 7 of the presentation, the highlights for the FY08 plan. In addition, the large 11x17 spreadsheet shows funding sources for each of the projects. For the FY08 projects, all grants that were assumed have been received.
The CIP is currently divided into seven categories which basically follow the different funds:
Staff has refined the FY08-13 CIP, focusing on the current FY07 projects, their completion dates, and the FY08 priority projects. There have been a few changes since the draft in December. The FY08 CIP project list represents the best projection of the FY07 project completions and any roll-overs into the FY08 budget year, and the best range of project priorities based on need and available funding.
|Related City Policies:|
Budget Documents including the CIP
Master Plan Documents as described in the discussion section for each enterprise
Ashland Community Values Statement
Council expressed the desire to approve and adopt the CIP prior to the formal the Budget process. Staff recommends that although the CIP shows a full six years of rolling capital projects, that Council only adopt the FY08 project list. Council could adopt the FY09-13 CIP in concept which allows staff to provide any new inputs to Council and adopt the project lists annually.
Should Council wish to adopt the CIP prior to the full budget process, staff recommends one of the following actions:
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