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• Available Funding (Non-restricted) - Present the non-restricted General Fund dollars that are anticipated in the two-year revenue forecasts and/or available in existing reserves that are available for City Council to allocate in the upcoming four-year CIP. • Existing Process (CIP Carry-forward) - Discuss the current process by which remaining budgets for existing capital projects are carried forward across fiscal years and recommend a change to the process. • Existing Project Review and (Re)Prioritization - Present a list of all existing projects funded with General Fund dollars, including those that have been carried forward, along with a staff recommendation for City Council to consider deferring or deleting some of those projects so the funding can be reallocated based on current priorities. • New 4-Year CIP Recommendation - For City Council discussion purposes, staff has also prepared a prioritized list of potential projects, along with a cost estimate for each potential project. Assuming funds are reallocated as recommended, the list represents the staff recommendation regarding which projects should be budgeted with General Fund dollars in the upcoming four-year CIP. These items are being presented in a memorandum format for the Council's early review; the memorandum will be used as the basis of an agenda item for the regular City Council meeting on March 21, 2023. At that meeting, staff would like to receive input and direction from City Council regarding the recommendation to reallocate some funding. Regardless of the input and direction received, a balanced four-year CIP budget will be presented to City Council for consideration and discussion on April 18, 2023. The March meeting is an early opportunity for the City Council to provide input to staff earlier in the capital budget development process. Anticipated Contributions from the General Fund (Non-restricted) Staff's preliminary estimate includes funding $2.0 million from the General Fund for each of the next two years for capital projects. With the development of the two-year proposed Operating Budget currently in progress, staff is actively working on determining the level of the General Fund resources available for capital projects and will provide more refined estimate at the April 18t' Budget Workshop meeting. In the meantime, it is suggested for the purpose of this memo the $2.0 million estimate for FY 2023/24 and FY 2024/25 be used. The goal is to contribute $5.0 million to the CIP annually depending on available resources. In some years, the contributions may be more significant due to year-end surplus and the use of reserve funds. The contributions for FY 2019/20, FY 2020/21 and FY 2021/22 were $2.6 million, $4.0 million and $8.8 million. The contribution for FY 2022/23 is projected at $7.7 million. This amount reflects $3.5 million in contribution from the Rainy Day Fund to the General Fund; funds that were set aside during COVID are returned to support capital projects. The estimated $2.0 million annual contribution reflects a drawdown from the Rainy Day fund. 2