11 - Laserfiche WebLink

THE CITY OF 11 . CITY COUNCIL AGENDA REPORT pLEASANTON June 5, 2018 Finance TITLE: ADOPTION OF THE MID-TERM CAPITAL IMPROVEMENT PROGRAM FOR FY 2018/19 SUMMARY Every two years the City Council adopts a Capital Improvement Program (CIP) to assure that infrastructure and capital improvement needs are adequately addressed and planned. In anticipation of work beginning on the new funded projects approved for FY 2018/19, staff conducted a Mid-Term review of the CIP to assure that revenues are available to fund approved projects, to amend, add or delete new and existing projects so they are consistent with the current funding, workloads and scheduling, to assure consistency with the adopted City Council priorities, and to meet community expectations. The result of that review is the Mid-Term CIP included as Attachment 2 to this report. If approved, it will be bound into one document with the Mid-Term Operating Budget creating the Mid-Term Update. RECOMMENDATION 1 . Approve the attached resolution adopting the FY 2018/19 Mid-Term Capital Improvement Program; and appropriate the CIP revenue and approve amendments to FY 2018/19 project expenditures included in Tables 1 and 2 in Section II of the Mid-Term Update. FINANCIAL STATEMENT The FY 2018/19 Mid-Term CIP estimates total expenditures to be $33.4 million, an increase of $7.9 million or 31% increase from the $25.6 million projected in June 2017 when the FY 2017/18 through FY 2020/21 CIP was adopted. All of these projects are funded from revenues traditionally earmarked for the City's Capital Improvement Program, including a General Fund transfer of $5.9 million in FY 2018/19 which is an increase of $0.8 million from the original $5.1 million allocated to the FY 2018/19 CIP in June 2017.