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Request for Action <br />To <br />Item Number <br />Mayor and City Council <br />9.5 <br />Agenda Section <br />Meeting Date <br />Prepared by <br />Work Session <br />November 15, 2021 <br />Lori Ziemer, Finance Director <br />Item Description <br />Reviewed by <br />2022-2026 Capital Improvement Plan <br />Cal Portner, City Administrator <br />Reviewed by <br />Action Requested <br />Review the 2022-2026 Capital Improvement Plan <br />Background/Discussion <br />Capital Outlay Reserve Fund <br />Funded by interest income and 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 balance designated for the <br />replacement of technology is about $504,275. <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 />comes from the state general fund dollars that are collected through sales and income taxes and can be subject to <br />state 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 2022-2026 vehicle/equipment purchase requests were <br />reviewed and recommended by the Fleet Committee. <br />Government Building Fund <br />Used for municipal building construction/maintenance, landscaping, and remodeling. The building maintenance <br />supervisor and department directors identify needed building improvements which are updated annually. The <br />landfill expansion fee and interest earnings are the primary funding sources. The landfill expansion fee is <br />scheduled to end in 2030 but may expire earlier based on landfill capacity due to closure of the GRE recycling <br />plant. The fund has covered debt service payments for the public works building and will also cover the debt <br />service payments for the public safety expansion and Fire Station #3 for 2022. The intent will be to gradually <br />transition the debt service payments to the tax levy. <br />Park Improvement Fund <br />Funds the replacement and maintenance of park amenities with an annual $250,000 transfer from the Liquor <br />Fund. The projects identified by the Parks & Recreation Commission for 2022 include the tennis court <br />replacement at Trott Brook park and athletic fields demand study. <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 />