2002 Approved Budget - Laserfiche WebLink

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Long Range Financial Planning Background and City Council Long Range Budget Policy Each year, the City Council, in cooperation with various citizen study committees, staff guidance and input from the business community, annually prepares an updated 5 -year Capital Improvement Program (CIP). The expected capital expenditures for the current year (2002) have been thoroughly reviewed by the City Council in conjunction with the fiscal operating policies and have been approved. The remaining four years (2003 -2006) are best estimates at a current point in time and represents what may be expected to be the needs of the city in those particular years. The City Council policy is very clear that those items listed in the future years are for planning purposes only. When the projects are approved for each appropriate operating year, then and only then will they be considered actually budgeted. Capital Expenditure Trends The trend throughout the City's past Capital Improvement Programs typically shows higher levels of proposed investments in public infrastructure. In reality, many of the proposed projects are either cancelled or reduced in final scope so as to be within a normal range of $8 -12 million dollars of annual capital outlay, including infrastructure. The 2001 -2005 Capital Improvement Program totaled $81,317,975 as compared to the current 2002 -2006 Program, which is estimated at $75,721,267. Most of the differences between the two 5 -Year Programs relate primarily to public facilities such as a community center, public safety space and other governmental space upgrades. The current Program has modified somewhat from earlier expectations as the Final Centre City Report has been presented. The Centre City Taskforce, which was made up of Roseville Citizens, had been formed by the City Council in 1999, to review the current land location of the Civic Center, which included the City Hall, Public Works, the Skating Center and Fire Station No. 1. Broad source and use categories are shown in the charts on the next page. Summary information and specific detail, including sources and expenditures by department, are on the following pages. V -1