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MEMORANDUM To:Saint Anthony Village City Council From:Deborah Maloney, Finance Director Date:October 14, 2025 Request: Proposed 2026 Capital Funds Budget BACKGROUND A Capital Funds Plan, also referred to as a Capital Improvement Plan (CIP), is a multi-year roadmap that outlines the City’s planned investments in major physical assets such as roads, buildings, utilities, parks, and large equipment, along with the funding strategies to support them. By establishing this long-term perspective, the City is able to allocate sufficient time to explore and evaluate alternatives for asset replacement, ensuring informed and strategic decision-making. The Building, Capital Equipment, and Parks Improvement Funds are levy funded and all play a key role in supporting the City’s capital program. Staff, in collaboration with department directors, reviewed each of these funds to identify opportunities to defer planned replacements where existing assets were found to have remaining useful life, and to incorporate new items requiring immediate repair or replacement due to urgent operational needs. Equipment replacement schedules are proactively managed to ensure resource availability and maximize asset longevity. However, equipment is not replaced automatically based on schedule alone—condition, performance, and remaining useful life are carefully considered. Additionally, new equipment options are assessed for improved functionality, lower initial costs, and reduced long-term operating expenses, ensuring the City continues to invest in capital improvements with efficiency and fiscal responsibility. NOTABLE UPDATES BY FUND Building Improvement Fund The Building Improvement Fund accounts for costs for replacement and large maintenance items needed for city owned buildings. Significant projected costs for 2026 are identified by location and listed below. City Hall/Police Facilities Advertisements for bids have been published regarding renovations at the police station to accommodate staffing needs are anticipated to be around $290,000 in 2025 with additional costs around $50,000 in 2026. Other significant costs for this building in 2026 include: Fire alarm panels will no longer be supported and require replacement; we are anticipating this cost to be around $25,000. Building water heaters have been deferred, and we will review this need again in 2026. Cost expected to be around $26,000. PD overhead garage doors need replacement. Cost expected to be around $22,500. 7