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CITY COMMISSION AGENDA ITEM |
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Department: |
Finance |
Commission Meeting Date: May 08, 2018 |
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Staff Contact: |
Bryan Kidney, Finance Director |
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Recommendations/Options/Action Requested: |
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Review and provide input on the draft 2019-2023 Capital Improvement Plan (CIP). |
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Executive Summary: |
Staff has drafted the 2019-2023 Capital Improvements Program for City Commission review. This, along with other financial forecasting, is an important tool in financial planning and prioritizing limited resources.
The CIP consists of projects that are greater than $100,000 and have an expected life of at least 5 years. It should be noted that staff is still working through some of the CIP numbers and it should be considered a draft at this point. The recommended CIP will be presented to the Planning Commission to ensure conformance with the City’s Comprehensive Plan. A final CIP will be presented for adoption as part of the City Manager’s recommended 2019 budget.
Detailed Project sheets can be found on the City’s 2019-2023 Capital Improvement Plan Site: https://lawrenceks.org/budget/cip/
The projects that are identified as unfunded are not financially feasible at this time without an increase in the city’s debt service mill levy or other corresponding revenue adjustments, or adjustments to recommended projects.
Staff is presenting a balanced CIP program that is within current revenue capacity, based on the following assumptions:
· Of the City’s special sales tax rate of 0.55%, the Infrastructure portion (0.3%) and transit operations portion (0.2%) reflects the approved renewal from last November 2017 ballot. · New debt service for any projects will be paid from property tax at an estimated valuation growth of 2% annually. A flat mill levy rate is assumed. · The utility funded projects are funded through their fees based on moderate annual fee rate increases.
It is important to note that the CIP is tentative pending finalization of the operational budgets. Departments have submitted budget requests for evaluation and the budget team is working on review. The operational budget will be a focus of the upcoming June 12 budget work session. |
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Strategic Plan Critical Success Factor: |
The CIP addressed the critical success factors identified in the strategic plan:
· Effective Governance/Professional Administration o A long-range CIP is a critical component effective governance and professional administration. The CIP was scored based on compliance with the critical success factors · Safe, Healthy, and Welcoming Neighborhoods o Affordable housing continues to be included in the CIP as well as funding for sidewalk/ADA improvements, bike/pedestrian improvements, neighborhood parks and trails. · Innovative Infrastructure and Asset Management o The CIP includes funding for repair and replacement of numerous infrastructure, facilities, and assets. · Core Services o The CIP includes funding for services that address the health, safety and welfare of the community. · Sound Fiscal Stewardship o This data is presented in a way that staff hopes assists the governing body in prioritizing across all city services and balances with the needs with available resources. · Collaborative Solutions o The CIP includes collaborative solutions such as the partnership with the Humane Society and reflects projects that are funded in partnership with other government agencies. |
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Fiscal Impact (Amount/Source): |
The CIP as presented has a
five-year cost of $272,637,486 |
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Attachments: |
2019-2023 CIP Projects & Funding Sources by Department - Updated 05/04/18 |
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Reviewed By: (for CMO use only) |
☐TM ☐DS ☒CT ☐BM |