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SECTION II MID-TERM CAPITAL IMPROVEMENT PROGRAM Fiscal Years 2012/13 through 2014/15 In June 2011, the City Council adopted the Capital Improvement Program (CIP) for Fiscal Years 2011/12 through 2014/15 and approved the funding for all projects included in Fiscal Years 2011/12 and 2012/13. In anticipation of work beginning on new funded projects approved for Fiscal Year 2012/13, this Mid-Term review of the CIP has been conducted to ensure 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. This document highlights the result of that review. As a result of the City Council's previous approval of the current CIP, this Mid-Term document does not reprioritize projects. Rather, it adheres to the current approved project funding schedule except where change is determined to be essential. This action assures that new projects and priorities will be introduced, generally, as part of the first year of a two-year CIP funding cycle that will begin in July 1, 2013. To implement amendments included in this document, staff is recommending it be approved by the City Council. Approval implements funding modifications to existing projects and only directly impacts 2012/13 projects since those in the final two years of the program (2013/14 and 2014/15) continue to be for planning purposes only and are based on currently identified needs and revenue projections which are subject to change. In addition, future modifications to Council priorities may result in changes to projects when the new CIP is prepared for 2013/14. Staff will continue to review and update the CIP annually, taking into account changes in community needs and the City's ability to fund and support specific projects. PROGRAM OVERVIEW This Mid-Term CIP budget discusses CIP revenues and transfers, project expenditures, and a listing of amendments, including recommended new projects. Included in Attachment A is a table showing all projected expenditure and five additional revenue and expenditure tables for all CIP the five CIP categories including Streets, Parks, Miscellaneous, Water and Sewer. Attachment B includes all detailed financial tables. No projects have been added or deleted in this Mid-Term CIP. However, a number have been amended and the list below details the amendments. Recommended Amendments to Existing CIP Projects . Annual Resurfacing of Various Streets has been increased from $2,650,000 to $2,886,000 (+$236,000) to reflect the results of bids received for the project. . A total of $769,845 was added to the Staples Ranch: Installation of Traffic Signals at Newton Way, Guzman Parkway, and Trevor Parkway project. This adjustment provides for full project funding at the $800,000 anticipated in the current CIP. The additional funding will come from the existing Dublin Freeway Interchange Reimbursement Reserve. 41