2025 Capital Funds book - Laserfiche WebLink

Home Browse Search

Stormwater Fund This fund accounts for costs associated with flood mitigation, water quality compliance, regulatory mandates, and stormwater pond maintenance. Key expenditures for this fund in 2024 and 2025 include: o A placeholder for an Industrial Park flooding mitigation has moved to 2030, anticipating that redevelopment will not occur until a later date. o Mirror Lake Outfall repair is expected to cost $55,600 in 2024 o Maintenance costs for the Street Sweeper are accounted for in this fund at an estimated $6,000 per year o Other pond maintenance and water quality costs are estimated at $28,000 per year o MS4 Engineering costs are around $7,000 each year Future considerations for Storm Water Fund:  The Storm Water fund currently has a sufficient fund balance to support the scheduled replacement throughout 2025‐2041 timeframe. Stormwater fund transfers have been used to support the debt levy reduction program as needed in prior years.  The stormwater rates have been adjusted over time to support maintenance costs and capital needs. Continuing rate management will ensure sustainability Street Improvement and Debt Service Plan  Plan reflects the current street improvement schedule. o Plan has updated projections for future bond interest rates. o Annual street improvements include a mixture of street, utility and storm water reconstruction, alley improvements and mill and overlays.  The street improvement schedule and 2025 debt levy reduction program were presented to the City Council at the 6/25/24 council work session and approved at the 9/10/24 City Council meeting. Summary The proposed 2025 Capital Funds budgets align revenue sources with appropriate needs to ensure sustainability and sound financial reserves to safeguard the ability to maintain the City’s valuable assets. The budgets as presented are intended to support the Cities present level of services and maintain the City’s infrastructure for current and future community members.