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THE CITY OF 21 b PLASANTONo CITY COUNCIL AGENDA REPORT June 19, 2012 City Manager TITLE: ADOPTION OF THE MID-TERM CAPITAL IMPROVEMENT PROGRAM FOR FISCAL YEARS 2012-2013 THROUGH 2014-2015 SUMMARY Every two years the City Council adopts a Capital Improvement Program (CIP) to assure that infrastructure and capital improvement needs are adequately addressed and planned. In anticipation of work beginning on the new funded projects approved for Fiscal Year 2012-13, a Mid-Term review of the CIP has been conducted to assure that revenues are available to fund approved projects, to amend, add or delete new and existing projects so they are consistent with current funding, workloads and scheduling, to assure consistency with the adopted City Council priorities, and to meet community expectations. The result of that review is Attachment 2 to this report. If approved by the City Council it will be bound in one document with the Mid-Term Operating Budget creating the Mid-Year Budget. RECOMMENDATION 1. Approve the attached resolution adopting the 2012-2013 through 2014-2015 Mid- Term Capital Improvement Program (Mid-Term CIP). (Attachment 1) 2. Appropriate the CIP revenue and approve amendments to FY2012-13 project expenditures, including the carry-overs included in Attachment 2. FINANCIAL STATEMENT Over the next four years, this CIP includes $57,574,838 in estimated total financial resources and $32,183,975 in estimated expenditures. All of these projects are funded from revenues traditionally earmarked for the City's Capital Improvement Program, including a General Fund transfer anticipated in the final two years of the program. As a result, there should not be any additional financial impact on the City except for those detailed in the CIP.