Laserfiche WebLink
Recommended <br />Action <br /> <br />Proposed Timetable <br /> <br />Comments <br /> <br />' ' ' ': ReEommended <br /> Action <br /> Proposed Timetable <br /> <br />comments <br /> <br />Recommended <br />Action <br />Proposed Timetable <br /> <br />Comments <br /> <br />Create and adopt a funding plan for Pavement <br />Rehabilitation Program. <br /> <br />Finalize funding plan prior to initial public heanngs, <br />currently scheduled for September 2002. <br /> <br />The Pavement Rehabilitation Report proposed <br />improvements and assessments. This information needs <br />to be expanded into an overatl funding plan to include <br />issues raised in the financial planning process: <br /> <br />· What is the projected 12/31/01 balance in the Street <br /> Improvement Reserve Fund? <br />· WiLl monies in the Reserve be needed for any other <br /> purposes? <br />· How much of the LandfL12 Surcharge w~ be <br /> committed to this Program? <br />· W21 the City issue bonds to pay for annual <br /> improvements and does the $5,000/unit proposed <br /> assessment exceed the 20% threshold needed to <br /> issue G.O. Bonds? <br />· WiLl the City establish a permanent improvement <br /> revolving fund for pavement rehabilitation? <br />· How will the City f~ance rehabLlkadon of sanitary <br /> sewer lines? <br />· Is the Utilities Commission prepared to finance <br /> water and electric system improvements related to <br /> pavement rehab~tadon projects? <br /> <br />Initiate process for compliance with GASB 34. <br /> <br />Complete compliance actions by 12/31/03. <br /> <br />It is likely that planning for comphance with these new <br />financial reporting requirements will be influenced by <br />the demands of other financial management projects. <br />One way to stay on track is to hst the steps requLred for <br />comphance and track progress for each step. <br /> <br />Devdop strategies for obtaining a rating upgrade. <br /> <br />Undertake in 2002 in conjunction with debt issuance. <br /> <br />The City's current bond rating includes positive <br /> <br />Pavement Rehabilitation <br /> <br />GASB 34 <br /> <br />Bond Rating <br /> <br />Page <br /> 12 <br /> <br /> <br />