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0 It', <br />-fiAZEN HILLS <br />MEMORANDUM <br />DATE: August 7, 2009 <br />TO: Financial Planning and Analysis Committee <br />FROM: Sue Iverson, Finance Director <br />SUBJECT: 2010 — 2014 Capital Improvement Plan <br />BACKGROUND <br />As part of the 2010 budget process, a five-year capital improvement plan is prepared. City Council and <br />•staff have been working on the current plan over the last several months. Further discussions will be held <br />at the August City Council Worksession as part of the 2010 Budget process. <br />DISCUSSION <br />The attached document is the preliminary plan that was given to the City Council at their July <br />Worksession. Discussions on this plan began at the July meeting, but based on Council feedback and <br />requests, discussions are scheduled to continue at their August Worksession. Staff has been working to <br />change the document from a spreadsheet to an actual plan document that includes project details, funding, <br />and justifications. Please note that we have only begun to fill in all the data to complete this document <br />and that it is a work -in -process. As we have not finished Council discussions, this plan is not yet <br />finalized. <br />Staff is also working on the 2010 Operating Budgets, but do not yet have a preliminary copy completed at <br />this time. We hope to have the preliminary plan completed before the meeting next Tuesday so that we <br />can incorporate these numbers into the funding numbers and fund balances. We are still awaiting <br />numbers from the State Department of Revenue and other agencies in order to complete these numbers. <br />These estimates are then used to prepare a long-range financial plan to look at appropriate fund balances <br />and funding strategies. <br />As staff is currently working on the 2010 Operating Budget and Council directed changes to the Capital <br />Improvement Plan from the preliminary discussions, we will bring these updates and a preliminary long- <br />range financial plan to the meeting on Tuesday for discussions. <br />• ACTION <br />No action required. Informational information for purposes of discussion. <br />\\Metro-inet\ardenhills\Admin\Committees & CommissionsTPA08-11-09-C1P Plan.doc <br />