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<br />
<br /> STAFF REPORT
<br />
<br />
<br />
<br />TO: Mayor Keis and Members of City Council
<br />
<br />FROM: Chris Heineman, City Administrator
<br />Sam Magureanu, Finance Director
<br />
<br />DATE: October 12, 2022 City Council Workshop
<br />
<br />RE: Discussion on 2023‐2032 Capital Improvement Plan (CIP)
<br />
<br />The purpose of this workshop is to review and discuss the 2023‐2032 Capital Improvement Plan (CIP).
<br />The purpose of the CIP is to identify projects, project costs, and proposed timelines and funding sources
<br />for upcoming projects. There are a total of six capital project funds that are used for capital projects.
<br />
<br />I. Infrastructure Capital Project Fund (450)
<br />
<br />Background:
<br />Street, trails, and storm sewer projects are funded with the Infrastructure Capital Project Fund that was
<br />established in 1995 as a way to systematically fund these infrastructure projects. A 15‐Year Pavement
<br />Improvement Plan was prepared in 2021, and those projects and costs are included in this CIP.
<br />
<br />Source of Funds:
<br />The fund receives revenues from many sources including the franchise fee for electric and gas, property
<br />taxes, and special assessments.
<br />
<br />Fund Outlook:
<br />With the current property tax levy of $160,000 (an increase of $37,800 from prior year) per year, the fund
<br />will have sufficient funds for the infrastructure projects identified in the next ten years.
<br />
<br />0
<br />500,000
<br />1,000,000
<br />1,500,000
<br />2,000,000
<br />2,500,000
<br />3,000,000
<br />3,500,000
<br />4,000,000
<br />0
<br />500,000
<br />1,000,000
<br />1,500,000
<br />2,000,000
<br />2,500,000
<br />3,000,000
<br />3,500,000
<br />4,000,000
<br />4,500,000
<br />5,000,000
<br />2021
<br />Actual
<br />2022
<br />Est
<br />2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 Fund BalanceRevenues and ExpendituresInfrastructure Capital Project Fund (450)
<br />Revenues Expenditures Fund Balance
<br />
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