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MEMORANDUM <br /> <br />TO: <br /> <br />FROM: <br /> <br />Mayor and City Council <br /> <br />Lori Johnson, Finance Director <br /> <br />DATE: <br /> <br />September 23, 2002 <br /> <br />SUBJECT: Discuss Draft Five-Year Capital Improvement Plan <br /> <br />The Financial Management Plan adopted earlier this year addresses the need to have a five- <br />year Capital Improvement Plan (CIP) approved by the City Council each year. Attached is <br />the fLrst draft of the CIP for the years 2003-2007. The draft plan also includes data for the <br />years 2008-2012 to help give a long term prospective to the City's capital needs. After the <br />Council has had a chance to review and revise the draft CIP, it will be put on a future agenda <br />for final approval before the end of the year. <br /> <br />Before reviewing the details of the CIP, a brief summary of the source of the data, the <br />parameters used, and the new format will be helpful in understanding the document. The <br />f~rst step in the process was to have all department heads, the city administrator, and the city <br />engineer submit their capital requests for at least the next five years and longer if possible. <br />In order to be considered a capital asset, the equipment, machinery, building, improvement, <br />or other asset must have a value of more than $7,500 and a useful life of at least two years. <br />The attached draft CIP was generated based on the requests and comments submitted this <br />summer by the staff noted above. Therefore, other than a few changes by the City <br />Administrator, the data remains as submitted. <br /> <br />The data is categorized several ways: 1. Year requested. 2. Department. 3. Category - e.g. <br />vehicles, equipment, buildings, land, park improvements, and etc. 4. Funding source. 5. <br />Priority (priority 1 means the project is critical, 2 is high priority, 3 is important, 4 is low <br />priority, and 5 is future consideration). A project name and number are assigned to each <br />project as well. <br /> <br />Because the information is categorized many ways, there are also many formats in which the <br />CIP can be printed. I have provided the reports that I thought are easiest to understand <br />while still providing the necessary information. For each of the five-year plans, the <br />information is presented in the following formats: 1. Projects by Year. 2. Category <br />Summary. 3. Category Summary by Department. 4. Projects by Department and <br /> <br /> <br />