10-12-2022 Workshop Packet - Laserfiche WebLink

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$(500,000) $‐ $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $‐ $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 2021 Actual 2022 Est 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Fund BalanceRevenues and ExpendituresWater and Sewer Capital Fund (604) Revenues Expenditures Fund Balance 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 order to fund the many projects identified over the next 10 years, LGA revenue is now included for each year. Due to recent substantial reduction in LGA for2023, future LGA revenues have been conservatively projected to match with the expected revenues for 2023. The following items have been included in this CIP: Administration: The proposed CIP budget includes $35,000  Implementation of a new software for the Building department. Currently the City uses a manual process for issuing and tracking building permits.  Electronic work flow solution for Accounts Payable/Vendor payments processing, and electronic filing. Building Projects:  The proposed CIP budget includes $297,000 for the City Hall remodeling. The initial needs for the remodel were identified by a study conducted by Kraus Anderson in 2021.  It is important to note that there are additional potential building projects that have been discussed but have not been programmed in the CIP budget as they require further direction from the City Council. These include a potential public gathering space which has an estimated cost of $1.5 ‐ $1.9 million based on a construction cost of $325 per square foot. Another potential project that has been discussed is the potential renovation of the main level of the old fire hall for use as a police substation. A preliminary estimate for this potential project is $500,000.