Submitted By
Steve Drazner, CFO
Agenda Item Title
Title
Finance Committee Review of the Recommended Five Year Capital Improvement Plan (CIP) 2020-2024.
i. Overview of the CIP Process (5-year capital plan) 10 minutes
ii. Review of the Main Capital Fund 20 minutes Pages 7-61
iii. Review of the Building Improvement Fund 20 minutes
Pages 78-162
iv. Review of the Fleet Fund 10 minutes
Pages 167-173
v. Review of the Equipment Replacement Fund 20 minutes
Pages 174-191
vi. Review of the Sustainability Fund 10 minutes
Pages 73-77
vii. Review of the Water and Sewer Fund 15 minutes
Pages 207-242
viii. Review of the Parking Fund 15 minutes
Pages 193-206
ix. Review of the CDBG Fund 10 minutes Pages 68-72
End
Overview
Overview
As part of the budget process the Village Board reviews a recommended Capital Improvement Plan for the upcoming fiscal year, and in addition, the Village Board reviews staff's projections for the five-year Capital Improvement Plan. 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. Departments also rated each project based on need and priority.
Body
Anticipated Future Actions/Commitments
Staff will prepare the final document for Village Board adoption with the operating budget in December.
Report
The first year of the plan (2020) will serve as the foundation for all capital elements of the FY20 recommended Village budget which will be reviewed during October by the Finance Committee of the Village Board. This recommendation is based on the Village Board approved five-year 2019-2023 Capital Improvement Plan (CIP) adopted on December 10, 2018.
Engineering also uses the five-year plan as a guide to plan for upcoming design work for various projects. Specifically related to the next fiscal year's (FY20) recommended...
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