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Request for Action <br />To <br />Item Number <br />Mayor and City Council <br />9.3 <br />Agenda Section <br />Meeting Date <br />Prepared by <br />Work Session <br />October 19, 2020 <br />Lori Ziemer, Finance Director <br />Item Description <br />Reviewed by <br />2020-2025 Capital Improvement Plan <br />Cal Portner, City Administrator <br />Reviewed by <br />Action Requested <br />Review the 2020-2025 Capital Improvement Plan. <br />Background/Discussion <br />The City Council approved the expansion of the Public Safety Facility and construction of Fire Station 3. These <br />projects will be financed with the issuance of Capital Improvement Bonds in 2020 and 2021. State statute requires <br />project expenditures in a Capital Improvement Plan (CIP) be approved on or before the date of the public <br />hearing for bond issuance. Approval of the CIP and public hearing authorizing the issuance of the bonds is set <br />for November 2. <br />Due to the project timeline of the public safety building, a portion of the bonds will be issued in December of <br />2020 which is why this CIP is for the six years 2020-25. CIP projects that were originally in 2020 have been <br />updated based on what has occurred or expected to occur by the end of 2020. Staff will be reviewing planned <br />projects identified for 2021-25. <br />Capital Outlay Reserve Fund <br />Funded by interest income and any excess General Fund fund balance, this fund has been used for the purchase <br />and replacement of IT hardware/software and miscellaneous capital outlay items. The undesignated cash balance <br />ending 2020 is about $413,000. <br />GRE Reserve Fund <br />Undedicated funds received for hosting the RDF plant which ceased operations in 2019. This fund was used for <br />the Wayfinding Master Plan with completion slated for 2020. The 2021 police and fire portable radio upgrade will <br />be financed with these funds. <br />Equipment Replacement Fund <br />Established to provide funding for the planned replacement of vehicles and mobile equipment, the majority of <br />funding is provided through annual General Fund department charges and Local Government Aid (LGA). LGA <br />is a transfer from state General Fund dollars collected through sales and income taxes and can be subject to state <br />unallotment. Department charges are based on the amortization of their respective equipment and updated <br />annually. The Fleet Committee evaluates the replacement of vehicles and equipment based on the criteria of age, <br />miles/hours, maintenance costs, and usage type. The 2021-25 vehicle/equipment purchase requests were <br />reviewed and recommended by the Fleet Committee. <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br />service, and community engagement that encourages and inspires pi ospei ly. <br />M <br />TUREJ <br />Updated.• August 2020 <br />