RES 00071A - Laserfiche WebLink

SECTION II Capital Improvement Program Fiscal Years 2000 01/2003 -04 In June 1999, the City Council adopted the Five Year Capital Improvement Program and approved funding for all projects listed in Fiscal Years 1999 -00 and 2000 -01. However, prior to beginning work on funded projects listed in FY 2000 -01, a Mid -Term review of the Capital Improvement Program (CIP) is conducted to ensure that approved and planned projects are consistent with available revenue sources, to add new or delete existing projects so they are consistent with current workload (scheduling) and adopted City Council priorities, and to meet community expectations. As a result of the City Council's previous approval of the CIP, staff did not extensively reprioritize projects. Rather, staff' has adhered to the current approved project funding schedule except where change is determined to be essential. This action assures that new projects and priorities will be generally introduced as part of the first year of a two year budget funding cycle consistent with the City's budget process. As a result, the Mid -Term Capital Improvement Program is both consistent with the City's two year budget cycle and the needs of the community. In recognition of the amendments included in this document, staff is recommending the City Council approve the Mid -Term CIP including authorization to fund new and modified projects listed in FY 2000 -01. Projects included in the final three years of the program are tentative based on currently identified needs and revenue projections, and as such, are subject to revision to accommodate priority changes and projected funding levels. Staff will continue to review and update the program annually, taking into account changes in community needs and the City's ability to fund and support specific projects. Included in this section of the Mid -Term budget is a discussion regarding CIP revenues and transfers, project expenditures and unfunded projects. Included in the "CIP Tables" section of this document are revised financial tables for each of the five project areas including Streets, Parks, Miscellaneous, Water and Sewer. In an effort to provide the City Council and the community with accurate project funding information, this Section includes summary and detailed financial tables. In an effort to highlight significant project changes, recommended amendments included in these tables have been italicized. Also included in the CIP Tables section is an updated listing of unfunded projects, a table identifying projected development fee reserves, and a table identifying the status of previously approved and funded CIP projects for FY 1999 -00. 55