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BACKGROUND The Capital Improvement Program (CIP) has been prepared to provide the City Council with information necessary to determine capital improvement funding and expenditures over the next four years. As with any forecasting program, unforeseen changes in the economy, funding, and other conditions may substantially impact the priorities as set forth in this program. However, staff has taken steps to minimize these impacts and as a result, projects recommended for funding in the first two years have either already received full funding or have a high potential for receiving full funding. As an example, many Streets programs are dependent upon receiving state gas tax revenues which are potentially subject to state budget actions that could impact the amount received. However, these funds have been stable and there are no current plans divert the funds and therefore, they are included in the CIP based on projections received from the state. A listing of all funded CIP projects is included in the Summary Table located at the beginning of the document. In addition, a summary table showing projects in various categories, including City Council priorities, major street improvements, facilities, trails, etc., is included on pages 67 and 68. Each project recommended for funding includes a project description sheet detailing a project description, justification, estimated cost and funding sources. Detailed financial tables outlining funding sources for each project by the categories of Streets, Parks, Miscellaneous, Water and Sewer are included in Appendix A beginning on page 69. Finally, a listing of active carry-over projects approved in previous CIP's is included in Appendix B beginning on page 100 and the approval of the carry-over is part of City Council action recommended for this item. The CIP includes a $6,400,000 General Fund transfer in the first two years of the program which will be used for a range of programs included in the Streets and Miscellaneous categories, including funding the Capital Improvement Program Reserve (CIPR). In addition to funding the CIPR and funding specific capital projects, the program also provides funding to other dedicated reserves, including the Community Park Improvement and Acquisition Reserve, which will be used to fund future projects as deemed appropriate by the City Council. Other reserves are related to Streets, Water and Miscellaneous projects as detailed in the Financial Tables included the CIP's Appendix A. DISCUSSION Upon adoption of the CIP, the first two years of the program will be funded and adoption authorizes staff to begin work on these projects. However, staff does not expect to begin incurring any significant costs on new projects funded in the second year of the program until after the completion of the mid-term review scheduled for June 2016. Page 2 of 4