10-13-2021 Workshop Packet - Laserfiche WebLink

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VI. General Capital Improvement Fund (400) Background: The General Capital Improvement Fund was established to fund capital improvements and acquisitions that are not accounted for in another Capital Project Fund. These improvements have been historically been building improvements, public works equipment, small fire equipment, and parks improvements. Typically, the expenditures in this fund have included the purchase of tangible personal property (equipment) or facilities used in the City operations. Sources of Funds: The General Capital Improvement Fund (400) receives its revenue from many sources including Local Government Aid (LGA) and transfers from the General Fund and other funds. In previous years, staff included only one year of LGA to fund the capital projects in this fund for the next 5 years. In order to fund the many projects identified over the next 10 years, LGA revenue is now included for each year. Due to a possible reduction in LGA, a 5% decrease in LGA has been included each year. The following items have been included in this CIP: EAB removal and replacement • Proposed expenditures of $67,500 in 2022 and $30,000 per year (2023-2027) Facility Improvements identified in the Kraus-Anderson Facility Study • Proposed improvements and repairs of $148,575 in 2022 and $1,145,000 in 2023 Rondeau Park Improvements • Proposed Improvements of $515,000 in 2022 Pioneer Park Master Plan • Proposed Improvements of $183,000 in 2022 and $1,402,000 in 2023 Staff will provide a detailed PowerPoint presentation on each of these funds at the City Council workshop. Additional information on each of the primary expenditures and possible funding sources will be discussed during the workshop, as well as examples of how each funding source will impact the City’s long-term fund balance. Additional spreadsheets of identified improvements and estimated costs for Pioneer Park and the Facilities Improvements will be provided next week.