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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