5.4. SR 10-11-2010 - Laserfiche WebLink

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Item 5.4. '~` µ J 1" s ayor and ity oasncil Tian Sianon, Finance irector l" s ctoer I I, 2010 U J °Tt 0 I I -20 15 apital lanproveent Plan ( I ~ The purpose of the discussion is to provide preluninary information regarding projects proposed to be funded. The document is prepared to anticipate major expenditures in advance of the year they may become budget requests. Projects listed in the first year are included in the budget and upon each annual update of the CIP some projects will be deleted, added, or even delayed. Much of our discussion will focus on the 2011 portion of the CIP. After we review the cash flows and projects, I will put together the document. Equipment Replacement Fund (Exhibit A). This fund was reviewed in detail at the August 9, 2010 Council worksession. The only revision from that review was moving the plow and hitch replacement from the Streets general fund budget to the equipment replacement fund. This is reflected as item No. 15 on the equipment list. Street Improvement Reserve Fund (Exhibit B). This fund covers annual improvements on roads in the city. Special assessment repayments are the main funding source in the fund. Justin Femrite, City Engineer will be at the meeting to discuss the proposed projects for the current CIP. The 2011 projects that Mr. Femrite will discuss are attached. The first one is the Evans/2"dStreet/ Freeport project, and the second proposed project will be Industrial Blvd/Triangle Road improvement. The future projects will be developed as Mr. Femrite gets farther into updating the pavement management program. Palk Improvement Fund (Exhibit C). The park improvement fund was created to provide a funding source for replacement and further build out of our current parks. The funding source is an annual transfer from the municipal liquor store based on a percentage of profits. The expenditures planned in 2011 are playground safety repairs/supplies, re-lamp the Orono softball fields, and several well upgrades at various fields. The subsequent years will be updated with the CIP based on available funding. Park Dedication Fund (Exhibit D).