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`AK <br />II. PURPOSE <br />Street reconstruction is a major expenditure of city funds for the <br />reconstruction of streets. Street reconstruction may include utility <br />replacement and relocation, public safety street modifications, and other <br />incidental costs, turn lanes and other improvements having a substantial <br />public safety function, realignments, other modifications to intersect with state <br />and county roads, and the local share of state and county road projects. <br />Except in the case of turn lanes, safety improvements, realignments, <br />intersection modifications, and local share of state and county road projects, <br />street reconstruction does not include the portion of project costs allocable to <br />widening a street or adding curbs and gutters where none previously existed. <br />A Street Reconstruction Plan (SRP) is a document designed to anticipate <br />street reconstruction expenditures and schedule them over a five-year period <br />so that they may be purchased in the most efficient and cost effective method <br />possible. A SRP allows the matching of expenditures with anticipated <br />income. As potential expenditures are reviewed, the city considers the <br />benefits, costs, alternatives and impact on operating expenditures. <br />The City of St. Anthony, Minnesota (the "City") believes the street <br />reconstruction process is an important element of responsible fiscal <br />management. Major capital expenditures can be anticipated and coordinated <br />so as to minimize potentially adverse financial impacts caused by the timing <br />and magnitude of capital outlays. This coordination of capital expenditures is <br />important to the City in achieving its goals of adequate physical assets and <br />sound fiscal management. In these financially difficult times good planning is <br />essential for the wise use of limited financial resources. <br />The Street Reconstruction Plan is designed to be updated on an annual basis. <br />In this manner, it becomes an ongoing fiscal planning tool that continually <br />anticipated future capital expenditures and funding sources. <br />Ehlers & Associates, Inc. Page 4 <br />