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Discussion: Five-Year Plan
Executive Summary: As part of the on-going effort to improve the annual budget process, City Council and staff will conduct the third review of the 2015-2019 Five-Year Plan. The discussion will focus on capital projects and an appropriate carryover fund balance (emphasis on General Fund).
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Legislative History
The Five Year Plan was discussed previously at Council workshops on July 22, 2014, and August 12, 2014.
Purpose & Explanation
The purpose of this memo is to provide Council with an overview of the process that has been developed for the Five-Year Capital Planning process. The council work session on September 9, 2014, will provide an opportunity for staff to present the results of this process.
Development of the Five-Year Capital Planning Process:
Step 1 consisted of reformatting a spreadsheet into a five-plus-year format in which all capital projects would be placed by fund/department and by the year projected for the project to occur. The first year is essentially a funding plan for projects that are anticipated/necessary in the immediate year. The out years are considered more of a planning process whereby all anticipated capital needs are registered with the understanding that funding is not a given. The intention is to provide a comprehensive "picture" of the capital needs within the community to maintain our current municipal infrastructure.
Step 2 consisted of analyzing and balancing year one requests with year one available resources. This process is more complex as we are working through the transition of one capital budgeting process to another. In the past, we have backed into the dollar amount available for capital. With the process we are putting in place, we have the ability to develop a more dynamic response to capital needs.
Step 3 consisted of the administrative and finance staff meeting with individual department managers to review their capital needs. By doing this we can mod...
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