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Date: 6/13/11 <br />Item: 13. a <br />N r6V ffs%oo. <br />Date.- June 13,, 2011 <br />T o.- Roseville Residents and Businesses,, Fellow City Councilmembers, and City Staff <br />From.- Mayor Dan Roe, City Councilmember Jeff Johnson, City Manager Bill Malinen, and <br />Finance Director Chris Miller <br />Subject Partial Capital Funding Plan and Preliminary Subcommittee Report <br />The Purpose of the Subcommittee <br />This subcommittee was established by the City Council as the result of the Council/Staff work <br />plan discussions held earlier this year. The subcommittee was made up of Mayor Roe, <br />Councilmember Johnson,, City Manager Malinen, and Finance Director Chris Miller. The <br />purpose of the subcommittee was to determine a path to a sustainable capital funding plan for the <br />City in light of the ongoing under-funding of capital replacement needs, and propose a plan for <br />consideration by the community and the City Council. <br />The Problem <br />In total,, the capital needs for the City for the next 20 years have been estimated to amount to <br />around $,218 million. Of that total,, about $,148 million (68% - over two thirds) is un-funded by <br />current sources as projected over the next 20 years. A graphic example of the current situation <br />follows.- <br />Figure 1. Current Situation - All Funds. The red bars represent cuim�uilative an�n�uial capital <br />costs, while the green area represents cuim�uilative projected current an�n�uial budgeted capital <br />funding. All figures are in 2011 dollars. <br />