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City of Roseville — 2012 Budget Capital Improvement Policy Purpose The purpose of the City's Capital Improvement Policy is to ensure that capital expenditures are well planned and enable the city to replace capital items when needed, without requiring significant fluctuations in the property tax levy. Scope All departments and City funds are included in the 10 -Year Capital Improvement Program (CIP). The CIP identifies the timing and financing of all capital items. Polic ❑ All capital improvements shall be made in accordance with an adopted Capital Improvement Program ❑ The City will develop a 10 -year Plan for capital improvements and update it annually ❑ The City will coordinate development of the capital improvement budget with development of the operating budget. Future operational costs associated with new capital improvements will be projected and included in operating budget forecasts ❑ The City will provide ongoing preventative maintenance and upkeep on all its assets at a level adequate to protect the City's capital investment and to minimize future maintenance and replacement costs ❑ The City will identify the estimated costs and potential funding sources for each capital project proposal before it is submitted to Council for approval ❑ The City will determine the least costly financing method for all new projects ❑ For future development or redevelopment proposals that require public infrastructure and /or public financing assistance and /or City support services; a fiscal analysis shall be prepared identifying the project sources and uses. The analysis should also demonstrate the costs and benefits of the project. The cost of this analysis shall be borne by the developer. Implementation The Capital Improvement Program has been updated to reflect capital expenditures through the next five years. 102