22 - Laserfiche WebLink

THE CITY OF 22 b"' "' [� CITY COUNCIL AGENDA REPORT L£�S�4NTON8 June 18, 2013 City Manager TITLE: ADOPTION OF THE FOUR YEAR CAPITAL IMPROVEMENT PROGRAM FOR FISCAL YEARS 2013-2014 THROUGH 2016-2017 SUMMARY Every two years the City Council adopts a Capital Improvement Program (CIP) to assure appropriate planning and funding for City infrastructure maintenance and expansion. The proposed Capital Improvement Program establishes a course of action for meeting the City's capital improvement needs over the next four years. The first two years of the program are recommended for funding. The final two years of the program are included for planning purposes only. RECOMMENDATION 1. Approve the attached resolution adopting the 2013-2014 through 2016-2017 Capital Improvement Program. 2. Approve the transfer of $378,037 in CIP Streets General Funds (160) from the Happy Valley Bypass Road Reserve (CIP 035006) to the Bernal Community Park, Phase II Lighted Multi Purpose Sports Fields (CIP 017045). 3. Approve the use of $843,171 of Park Dedication Fees (159) for development of the Bernal Community Park, Phase II Lighted Multi Purpose Sports Fields (CIP 017045) . 4. Appropriate the revenues and approve project expenditures for the projects recommended for funding in fiscal years 2013-2014 and 2014-2015. 5. Approve the project and reserve carry-overs as outlined in Appendix B of the CIP. FINANCIAL STATEMENT Over the next four years, this CIP includes an estimated $63,231,471 in total financial resources and $39,112,944 in estimated expenditures. All of these projects are funded from revenues traditionally earmarked for the City's Capital Improvement Program, including a $2,300,000 General Fund transfer anticipated in the first 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.