Agenda Packets - 1995/07/17 (2) - Laserfiche WebLink

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CAPITAL IMPROVEMENT PLAN The City has two components of the Capital Improvement Plan: 1. Capital Equipment Program 2 . Capital Improvement Program Capital Equipment Program The Capital Equipment Program consists of the type, quantity and operational usage of equipment that the City estimates it will need in the future to: 1. Replace current equipment that has served its useful life, 2 . Acquire equipment that is necessary to effectively and efficiently maintain or enhance current or projected service levels within the City; and 3 . Maintain safety requirements and industry standards for maximum efficiency. It is estimated that in 1996 the General Fund will fund a total of $144, 425 in capital equipment acquisitions. The acquisitions for 1997 have been reduced substantially because of a Council imposed levy freeze for 1997. Because many of the acquisitions will be delayed until 1997 or beyond, subsequent years reflect a dramatic increase in capital equipment expenditures. It must be noted that the Capital Equipment Program is an estimate of future needs. It is recognized that all acquisitions are revenue sensitive and dependent on the projected revenue stream for any given year. It must also be noted that not all capital equipment needs can be anticipated. Some capital equipment needs may service at any time during the five year cycle and require current or next year funding to meet a required or desired service need. Capital Improvement Program This is a new program this year for the Long Term Financial Plan. The purpose is to detail the capital projects that are anticipated during the next five years, listing estimated costs and funding sources. It must be noted that some of the anticipated infrastructure projects are not included in this program due to the on-going work on the City's Pavement Management Program. As that Program is completed, the capital projects relating to infrastructure projects will be included in next year's LTFP.