3.0. SR 04-26-2004 - Laserfiche WebLink

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Financial plarming is a process, not an event. The preparation o[ a [mancial management plan and the adoption of policies lay the foundation. The City builds on this foundation by underta 'ldng additional financial planning actions set forth in the plan. , This section lists the financial planning Actions to be undertaken by the City. Some actions will be undertaken in 2002. Other actions have longer time frames. Progress on the Actions should be reviewed annually as part of the budgeting process. Completed actions can be removed. Actions in progress can be updated. New actions can be added. ACTIONS ClP Recommended ... Action Proposed Timetable Comments Update and adopt a five-year capital improvements plan. Prepare in conjunction with annual operating budget beginning in 2002. The City collects much of the data required for a CIP, but has not prepared a comprehensive plan. The CIP is a document that will evolve over time. The initial CIP should be a simple and functional document. The initial collection of project data and the organization of the Plan can be a time consuming task. In subsequent years, data collection becomes more routine and additional details can be added. The follov4ng steps can be taken to initiate the CIP process m 2002: · Determine the types of capital improvements and the minimum cost to be included in the Plan. · Determine the information required for each project. · Determine if projects v¢21 be prioritized and, if so, the method to be used. · Create aproject worksheet. · Establish a calendar for preparation and submission of project worksheets by Department Heads. Facilities Recommended Action Proposed Timetable Update plans for facilities improvements and funding, specifically addressing the use of Government Buildings Reserve. Prepare in conjunction with Capital Improvements Plan. Page 10