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PAGE 4 <br />Admin and Finance <br />Administration and Finance –Purchases for election equipment, office furniture and additional financial <br />software are slated for 2024-2026. The priority and timing of these replacements will be evaluated year to <br />year. 2024 Capital purchases are: <br />o City Hall - Bizhub Copier replacement $10,000 <br />2025 planned purchases include: <br />o Civic Modules Expanded/Added $15,000 <br />Future considerations for Capital Improvement Fund: <br />Phasing out the use of Infrastructure transfers as a CIP source and converting that amount to levy, at <br />which time available Infrastructure dollars would be reallocated to the debt levy reduction to negate levy <br />impact. <br />A $222,036 transfer of general fund surplus has been anticipated as a source in 2024. The general fund <br />transfers will be reviewed for Council action at a Council meeting prior to year-end. <br />PARKS IMPROVEMENT FUND <br />The results of the WSB Parks Evaluation study and priorities set by the council using PEC recommendations <br />inform the items and timing of future capital expenditures. <br />Significant costs in 2024 included: <br />o Silver Point Park Play Equipment (assumes full accessibility option) $136,091 <br />o Silver Point Park Bituminous Trail Resurfacing $216,700 <br />o Signage – Silver Point and Trillium - $3220 <br />Estimated costs for 2025 include: <br />o Central Park Ballfield netting $110,000 <br />o Emerald Park - Provide accessible route to picnic shelter and grill $15,000 <br />o All Parks with seating - Provide accessible picnic tables and benches $17,500 <br />o Signage – Central and Emerald Parks $3,420 <br />A $262,189 transfer of general fund surplus has been anticipated as a source in 2024. The general fund <br />transfers will be reviewed for Council action at a Council meeting prior to year-end. <br />Future considerations for Park Improvement Fund: <br />The Park improvement fund’s revenue source is Park Dedication fees and Park Levy. Allowed uses of park <br />dedication fees are limited in scope and dedication fees are infrequent, therefore insufficient to rely on to <br />add significant new amenities in the City Parks. To reduce reliance on debt financing for significant <br />additions and improvements, it is recommended that the Park Improvement Levy be increased a minimum <br />$5,000 per year until it reaches $100,000 to aid in funding future park replacement needs. <br />22