Laserfiche WebLink
<br />City of Elk River <br /> <br />CAPITAL IMPROVEMENT PLAN <br />2020 – 2024 <br /> <br />Enclosed is the City of Elk River’s Capital Improvement Plan (CIP) for the years 2020-2024. <br />The document has been prepared for the City Council and community to anticipate major <br />expenditures in advance of the year they may become budget requests. The CIP is a <br />planning management tool that forecasts the city’s capital needs over a five-year period <br />based on the city’s long-range plans, goals, and policies. City staff estimates the amount of <br />funding that is needed for projects to be completed in the next five years. Projects listed in <br />the first year are included in the budget and upon each annual update of the CIP some <br />projects will be deleted, added, or even delayed reflecting community needs and financial <br />ability to fund the project. <br /> <br />Approval of the CIP by Council does not authorize spending or initiation of a given project <br />nor allocate funding for any of the projects; it simply states the Council’s support and <br />acknowledgement of the Capital Improvement Plan as a planning tool. <br /> <br />Capital improvements to streets, parks, buildings, equipment, software, and vehicles are <br />included in the CIP. This plan shows the estimated project costs and the anticipated funding <br />source. Specific information is shown on each project within this document. <br /> <br />The CIP does not put specific designation on the priority of the projects. This uniqueness <br />of the type of project generally is associated with a funding source. Cash flow estimates are <br />done frequently to review cash reserve levels associated with the project funds. <br /> <br />