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c41 _ 2V/4 ceazreaek <br />515 Little Canada Road, Little Canada, MN 55117 -1600 <br />(612) 484-2177 / FAX: (612) 484 4538 <br />MEMORANDUM <br />TO: Mayor Hanson & Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />DATE: March 4, 1994 <br />RE: Capital Improvement Program <br />MAYOR <br />Raymond G. Hanson <br />COUNCIL <br />Beverly Scalze <br />Jim LaValle <br />Steve Morelan <br />Bob Pedersen <br />ADMINISTRATOR <br />Joel R. Hanson <br />Under separate cover is a five year capital improvement program <br />for your consideration. Documents have once again been revised <br />to reflect the most current conditions which we are aware of. As <br />you will note, the General Capital Improvement budget shows a <br />deficit of $8,078 in 1995 and $9,825 in 1997. By use of an <br />asterisk, we have identified items which would be held in <br />abeyance to address the deficit should it continue to exist. As <br />previously stated, I am of the belief that this deficit will <br />eliminate itself due to our conservative budgeting practices. <br />As stated previously, this will be a document will evolve over <br />time. However, it provides us with an excellent starting point <br />from which to plan our capital expenditures now and into the <br />future. It will become a critical tool in future budgeting <br />processes. Based on our work to -date, I would recommend its <br />adoption as presented. <br />As an aside, the Fire Department recently made a $35,000 payment <br />on the $125,000 loan made in 1992. This leaves a balance owing <br />of $35,350. The Fire Chief informed me that he is confident this <br />amount will be repaid over the course of 1994. <br />Also, attached are the minutes from the December 16, 1993 meeting <br />relative to the 10% capital improvement listing. You will note <br />that the resolution granted approval to the 1994 capital <br />improvement listing as submitted. You will further note that I <br />had pointed out that approval for items 2 and 3 (which were the <br />two signs) was conceptual at this point in time and further <br />justification would be required before any purchase is made. <br />Therefore, my interpretation was that items 1 and 4 were approved <br />for purchase and items 2 and 3 would require further <br />justification. The actual amount to be remitted in each case <br />would be based on documented invoices subject to the cost not <br />exceeding budgeted amounts. If the Council's opinion differs <br />from my interpretation, we should clarify this matter at <br />Wednesday's meeting. <br />Pas"" - >. <br />ge °"� "d <br />