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City of St Anthony Financial Plan V. CAPITAL IMPROVEMENTS The demand for services and the cost of building and maintaining the City's infrastructure continues to increase. No City can afford to accomplish every project or meet every service demand. Therefore, a methodology must be employed that provides a realistic projection of community needs, the meeting of those needs, and a framework to support City Council prioritization of those needs. Capital improvements include the scheduling of public improvements for the community over a five-year to ten-year period and takes into account the community's financial capabilities as well as its goals and priorities. A "capital improvement" is defined as any major nonrecurring expenditure for physical facilities of government. Typical expenditures are the cost of land acquisition, construction of roads, utilities, parks, vehicles and capital equipment. Capital improvements are directly linked to goals and policies, land use, community needs and sections of the Comprehensive Plan. DEVELOPMENT PROCESS • Staff will comprise, prioritize, consolidate and recommend Capital Improvement Projects. Devise proposed funding sources for proposed projects. Recommended funding sources will be clearly stated for each project. • Analyze debt service related to new projects. Each project, when applicable, will include its separate impact on the tax levy and/or utility charges as well as its total dollar cost. • Project and analyze total debt service related to the total debt of the City. • A debt study will be provided summarizing the impact of the project, review of the revenues and proposed debt. The City Council will evaluate all proposed Capital Improvements and decide on the following: • Project Prioritization • Funding Source Acceptability • Acceptable Financial Impact on Tax Levy, Total Debt, or Utility Rate Levels. 123