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 #: ID 18-965    Name:
Type: Report Status: Consent Agenda
In control: Finance Committee
On agenda: 10/8/2018 Final action:
Title: Finance Committee Review of the Recommended Five Year Capital Improvement Plan (CIP) 2019-2023. i. Overview of the CIP Process (5-year capital plan) 10 minutes ii. Review of the Capital Improvement Fund 20 minutes Pages 7-65 iii. Review of the Sustainability Fund 15 minutes Pages 66-70 iv. Review of the Building Maintenance Fund 20 minutes Pages 71-161 v. Review of the Fleet Replacement Fund 10 minutes Pages 162-168 vi. Review of the Water and Sewer Fund 15 minutes Pages 206-238 vii. Review of the Parking Fund 15 minutes Pages 189-205 viii. Review of the Equipment Replacement Fund 20 minutes Pages 169-187
Attachments: 1. Village Manager's memo 10-8-2018, 2. Recommended_CIP_10.01.18, 3. Grant Recap updated 10-8-18
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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Submitted By
Steve Drazner, CFO

Agenda Item Title
Title
Finance Committee Review of the Recommended Five Year Capital Improvement Plan (CIP) 2019-2023.
i. Overview of the CIP Process (5-year capital plan) 10 minutes
ii. Review of the Capital Improvement Fund 20 minutes
Pages 7-65
iii. Review of the Sustainability Fund 15 minutes
Pages 66-70
iv. Review of the Building Maintenance Fund 20 minutes
Pages 71-161
v. Review of the Fleet Replacement Fund 10 minutes
Pages 162-168

vi. Review of the Water and Sewer Fund 15 minutes
Pages 206-238
vii. Review of the Parking Fund 15 minutes
Pages 189-205
viii. Review of the Equipment Replacement Fund 20 minutes
Pages 169-187

End
Overview
Overview
Staff is transmitting the recommended five-year Capital Improvement Plan (CIP) to the Finance Committee of the Village Board. The Village Manager, Deputy Village Manager, and CFO held several meetings to review and discuss all requested projects with operating departments, prioritizing each individual request.

Body
Anticipated Future Actions/Commitments
Staff will prepare the final document for Village Board approval in October/November 2018.


Report
The first year of the plan (2019) will serve as the foundation for all capital elements of the FY19 recommended Village budget which will be reviewed during October by the Finance Committee of the Village Board.

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 design work and develop bid documents over the winter and be prepared for an early spring bid letting. Subject to approval of the five year CIP, staff will bring forward any contracts necessary for bid.

This is the fourth year in which staff has formally presented a full five year Capital Improvement Plan (CIP) for review by the Finance Comm...

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