5.4. SR 10-13-2008 - Laserfiche WebLink

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ver MEMORANDUM TO: Mayor and City Council FROM: Tim Simon, Finance Director DATE: October 13, 2008 SUBJECT: 2009 - 2013 Capital Improvement Program Discussion The purpose of this discussion is to provide preliminary information regarding projects proposed for funding in the 2009-2013 Capital Improvement Program (CIP). The CIP is presented at this time to show all of the projects that are currently being contemplated. In general, the CIP for year 2009 is set after your review, but the remaining years are re- evaluated on an annual basis. Equipment Replacement Fund The Equipment Replacement Fund covers replacement of the wheeled equipment and vehicles. This fund is replenished on an annual basis through charges paid by each department through their operating budget. In addition, a portion of the utilities department transfer for payment in lieu of tax goes to help fund our equipment replacement. This fund has a large cash balance, but the replacement schedule has sufficient variability as we utilize cash reserves when several costly vehicles are replaced in the same year. The City's fleet committee completed along-term plan for funding future equipment purchases and replacement cycles of the city's fleet. The capital costs included are projected as estimates at this time and will be updated annually as the replacement year becomes closer. Pending future budgets, some of the equipment may have to be delayed or postponed. Park Improvement Fund This fund covers build-out, landscaping, trails, and small remodeling projects for all parks and park buildings. This fund does have sufficient cash to cover the planned projects over the next five years. The primary funding source is a yearly transfer from our municipal liquor store operations.