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<br /> <br /> STAFF REPORT <br /> <br /> <br /> <br />TO: Mayor Fischer and Members of City Council <br /> <br />FROM: Chris Heineman, City Administrator <br />Sam Magureanu, Finance Director <br /> Bill Dircks, Public Works Director <br /> Steve Anderson, Parks & Recreation/Community Services Director <br /> Laura Linehan, Community Relations Manager <br /> <br />DATE: November 13, 2024 <br /> RE: Capital Improvement Plan (CIP) 2025-2034 <br /> <br />ACTION REQUESTED: <br />Motion to approve the 2025-2034 Capital Improvement Plan (CIP). <br /> <br />BACKGROUND: <br />The CIP is a planning document intended to provide an estimate of capital needs and funding. The <br />CIP process is a way to balance the amount of capital spending on an annual basis. This creates <br />consistency in capital funding and a more predictable demand on staff resources. <br />In order to better assess the long-term capital investments in public facilities and infrastructure that <br />will be required to successfully carry out our mission, the City of Little Canada is preparing a 10- <br />year Capital Improvement Plan. Additionally, preparing a 10-year CIP will enable staff to identify <br />potential funding shortfalls in future years and plan for alternative funding sources as needed. <br />The 2025 projects in the CIP will be included in the 2025 Annual Budget that Council adopts in <br />December. For 2026 projects, staff will request authorization from Council before proceeding <br />with any expenditure. While this is a 10-year plan, projects can be changed, accelerated if funds <br />become available, or delayed if other projects become a priority. There are a total of six capital <br />project funds that are used for capital projects and one enterprise fund. Staff provided a detailed <br />PowerPoint presentation on each of these funds at the City Council workshop on November 13. <br />The workshop was recorded and will be available for everyone to visualize. Additional <br />information on each of the primary expenditures and possible funding sources were discussed <br />during the workshop, as well as examples of how each funding source will impact the City’s long- <br />term fund balance. <br />STAFF RECOMMENDATION: <br />Approve the 2025-2034 Capital Improvement Plan. <br />Attachments: <br />1) Final 2025-2034 CIP