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Eclty1� ,.,�� Request for Action <br /> River <br /> To Item Number <br /> Mayor and City Council 10.2 <br /> Agenda Section Meeting Date Prepared by <br /> Work Session November 4, 2019 Lori Ziemer, Finance Director <br /> Item Description Reviewed by <br /> 2020-2024 Capital Improvement Plan Cal Portner, City Administrator <br /> Reviewed by <br /> Action Requested <br /> Review the 2020-2024 Capital Improvement Plan <br /> Background/Discussion <br /> Capital Outlay Reserve Fund <br /> Funded by interest income and any excess General Fund fund balance, this fund has been used for the <br /> purchase and replacement of IT hardware/software and miscellaneous capital outlay items. The <br /> undesignated cash balance as of 10/31/19 is about$303,350. It is recommended the 2018 excess General <br /> Fund fund balance of$237,813 be transferred to the Capital Outlay Reserve Fund. This will provide <br /> available resources of$541,163 to fund the 2020-2024 technology upgrades of$460,000 and the permit <br /> plan review tables of$30,000 for the building safety department. <br /> In addition, the Cable Commission disperses cable franchise fee revenues for broadcast technology and <br /> council chamber-related projects. The final election equipment payment of$15,600 to Sherburne County <br /> and the audio/video equipment upgrades of$27,000 for the EOC are funded here. <br /> Equipment Replacement Fund <br /> Established to provide funding for the planned replacement of vehicles and mobile equipment, the <br /> majority of funding is provided through annual General Fund department charges and Local <br /> Government Aid (LGA). Department charges are based on the amortization of their respective <br /> equipment and updated annually. The Fleet Committee evaluates the replacement of vehicles and <br /> equipment based on the criteria of age, miles/hours,maintenance costs, and usage type. The 2020-2024 <br /> vehicle/equipment purchase requests were reviewed and recommended by the Fleet Committee. <br /> Park Improvement Fund <br /> Funds park and trail improvements with an annual transfer from the Municipal Liquor Fund based on a <br /> percentage (45%) of profits after approved transfers. <br /> Government Building Fund <br /> Used for municipal building construction/maintenance,landscaping, and remodeling. The building <br /> maintenance supervisor and department directors identify needed building improvements. The CIP <br /> covers the next five years and these estimates are updated annually. The landfill expansion fee and interest <br /> The Elk River Vision <br /> A PehoMing community 2a itb revolutionary and spirited resourcefulness, exceptional POWERED By <br /> service, and community engagement that encourages and inspires prosperity INAMIRE1 <br />