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Capital Improvement Plan <br />City of Elk River, Minnesota <br />2008 thru 2012 <br />Project # FN-Ol <br />Project Name Software <br />Type Technology Priority n/a <br />Useful Life Unassigned Contact Finance Director <br />Category Technology/Communiciations Department Finance <br />new financial, payroll, and related software as new and improved software becomes available as needs require. <br />Justification <br />The City has a number of computer systems running and various license agreements. When the current financial system <br />(Fund Balance) was initially designed is was tailored for smaller cities and Elk River has grown to a medium size city. <br />A new system will streamline processes, allow scanning of items for data retention, virtual city hall and many more <br />features. <br />Expenditures <br />2008 2009 2010 2011 2012 Total <br />Equipment 70,000 70,000 <br />Total ~o,ooo ~o,ooo <br />Funding Sources 2008 2009 2010 2011 2012 Total <br />Capital Outlay Reserve 70,000 70,000 <br />Total 70,000 70,000 <br />Page 17 <br />