Regular Village Board meetings are typically held at 7:00 p.m., the first three Tuesdays of each month in Council Chambers of Village Hall (room 201), 123 Madison St. When a Regular Meeting falls on a holiday, the meeting typically is held the following night. The Village Board also meets in special sessions from time to time. However, dates and times of Special Meetings can vary and may change.

File #: MOT 17-231    Name:
Type: Motion Status: Consent Agenda
In control: President and Board of Trustees
On agenda: 10/2/2017 Final action:
Title: Motion to Defer until the Regular Meeting of October 16, 2017 Acceptance of the Five Year Capital Improvement Plan (2018-2022) as Reviewed by the Finance Committee of the Village Board on September 11th, September 12th, and September 19th and at a Special Meeting of the Village Board on September 25th.
Attachments: 1. FY18 CIP Document, 2. CIP Reduction Memo
Submitted By
Steven Drazner, Chief Financial Officer

Reviewed By
CLP

Agenda Item Title
Title
Motion to Defer until the Regular Meeting of October 16, 2017 Acceptance of the Five Year Capital Improvement Plan (2018-2022) as Reviewed by the Finance Committee of the Village Board on September 11th, September 12th, and September 19th and at a Special Meeting of the Village Board on September 25th.

End
Overview
Overview
The Finance Committee of the Village Board met on September 11, 12, and 19 to review the detailed Capital Improvement Plan for fiscal years 2018 through 2022. In addition, the CIP was reviewed and discussed at a special meeting on September 25th. At that meeting, staff was asked to further reduce capital projects by an additional $1 million. Although these reductions have not yet been incorporated into the document, attached is a memo summarizing the projects identified by staff for reduction in fiscal year 2018. The first year of the CIP will be incorporated into the FY18 operating budget which, when adopted by the Board, will become the legal appropriations for the Village next fiscal year.

Body
Staff Recommendation
As requested by the Village Board at the September 25, 2017 discussion, staff is preparing a list of possible cuts to the FY18 capital, fleet, building maintenance and equipment replacement funds budget of $1 million. Therefore, staff recommends the Village Board defer consideration of the CIP until October 16, 2017.

Budget Impact
The first year of the plan (2018) will serve as the foundation for all capital expenditures in the FY18 budget which will be reviewed during October and November with anticipated formal budget adoption on December 4, 2017.

It is also noted that in order to improve the Village's position when bidding capital projects and when scheduling construction of capital improvements, the adoption of a five year capital plan in advance of the annual budget will allow for staff to begin engineer de...

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