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will most likely be the first considered should additional funding <br />become available. <br /> <br />The proposed program is a product of staff discussions and meetings <br />and represents staff's projections of estimated revenues and <br />required projects over the next five years. As with any <br />forecasting program, unforeseen changes in the economy, building <br />industry, emergency response requirements, and other conditions may <br />substantially impact the priorities as set forth in the program. <br />As a result, the annual review reassesses all projects in view of <br />existing economic and infrastructure conditions to assure that <br />available revenues are targeted toward projects which are the <br />highest priority. As an outcome of each year's review, certain <br />projects which have been scheduled for funding in previous CIPs may <br />be moved to a different year or to an unfunded status. Conversely, <br />projects which were previously unfunded may be moved to a funded <br />status. <br /> <br />To establish some protection against unforeseen economic changes <br />which could result in inaccurate revenue forecasts, funding for <br />projects in the upcoming fiscal year 1992/93, are comprised <br />primarily of secured revenue sources. This practice was also <br />utilized in the current year's Capital Improvement Program. It has <br />proven to be satisfactory as a method of assuring that revenues <br />will be available to pay for projects which are funded in the <br />1992/93 year. <br /> <br />Consistent with previous years, the Capital Improvement Program <br />includes revenues transferred from the City's general fund. For <br />fiscal year 1992/93, $1,762,082 will be made available from this <br />source. <br /> <br />Last year, the City Council approved the establishment of water and <br />sewer replacement funds for the purpose of establishing the revenue <br />needed to meet the ongoing maintenance of the this City's sewer and <br />water infrastructure and equipment. While a water rate increase <br />was approved to fund the water component, the sewer fund <br />replacement component has not yet been established. Currently, <br />staff is working with a consultant evaluating the establishment of <br />a sewer rate structure which would include a funded replacement <br />component. It is anticipated that a report and recommendation on <br />this matter will be forwarded to the City Council in September with <br />implementation of the program in January 1993. In anticipation of <br />this review, the sewer projects program includes revenue that is <br />anticipated to become available from this source. <br /> <br />In addition to the Capital Improvement Program reflecting an <br />anticipation of sewer replacement revenue, the program also <br />reflects an anticipation of increased water connection fees which <br />would become available through the review and adjustment to <br />existing City water connection fees. The water connection fee <br />review is set for the City Council meeting of May 19. <br /> <br />SR92:203 2 <br /> <br /> <br />