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CITY COMMISSION AGENDA ITEM |
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Department: |
Finance |
Commission Meeting Date: February 6 , 2018 |
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Staff Contact: |
Bryan Kidney, Finance Director |
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Recommendations/Options/Action Requested: |
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Receive Update of 2017 Capital Improvement Program (CIP) Expenditures. |
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Executive Summary: |
The Capital Improvement Plan is a tool to help the City look beyond year-to-year budgeting to determine what, when, where and how future public improvements will take place over the next five years. When the 2017 CIP was adopted Capital projects were defined as projects costing a minimum of $75,000 and resulting in a new fixed asset or an enhancement to an existing fixed asset with a life expectancy of more than two years. The amount was increased to $100,000 for the 2018-2022 CIP.
A summary of the 2017 CIP projects is attached. It shows the projects by department, the amount in the 2017 CIP as well as actual spending in 2017. The report is a snapshot of one year of expenditures. Some projects may take more than one year for completion. In most cases when a balance remains, it is due to the project not being completed and/or bills not processed as of 12/31/2017. A note is included to show current project status.
This report does not include CIP projects from the Water and Wastewater Fund. The Utilities Department prepares a separate year-end project report that can be provided when complete. |
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Strategic Goal Area: |
Sound Fiscal Stewardship |
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Fiscal Impact (Amount/Source): |
The fiscal impact to the City is based on each individual CIP project and was reported at the time the individual item was presented to the Commission. |
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Attachments: |
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Reviewed By: (for CMO use only) |
☐TM ☐DS ☒CT ☐BM |