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Memorandum 1 2 Date: September 10, 2012 3 4 To: Roseville Residents and Businesses, Fellow City Councilmembers, and City Staff 5 6 From: Mayor Dan Roe, City Councilmember Je ff Johnson, City Manager Bill Malinen, and 7 Finance Director Chris Miller 8 9 Subject: Phase II of Recommendations from the CIP Subcommittee 10 11 12 The Purpose of the Subcommittee 13 14 As noted in 2011, this subcommittee was establis hed by the City Council as the result of the 15 Council/Staff work plan discussions held earlier that year. The subcommittee was made up of 16 Mayor Roe, Councilmember Johnson, City Manager Malinen, and Finance Dire ctor Chris Miller. 17 The purpose of the subcommittee was to determine a path to a sustainable capital funding plan 18 for the City in light of the ongoing under-funding of capital replacement needs, and to propose a 19 plan for consideration by the community and the City Council. 20 21 The Problem – A Reminder 22 23 As a refresher of information contained in the 2 011 proposals, in total, the capital needs for the 24 City for the next 20 years have been estimated to amount to around $218 milli on. Of that total, 25 about $148 million (68% - over two thirds) were un-funded by then-current sources as projected 26 over the next 20 years. A graphic example of that situation follows: 27 28 29 30 Figure 1. Current Situation - All Funds. The red bars represent cumulative annual capital 31 costs, while the green area represents cu mulative projected current annual budgeted capital 32 funding. All figures are in 2012 dollars. 33 34 35 $0 $50,000,000 $100,000,000 $150,000,000 $200,000,000 $250,000,000 20 1 2 20 1 3 20 1 4 20 1 5 20 1 6 20 1 7 20 1 8 20 1 9 20 2 0 20 2 1 20 2 2 20 2 3 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 20 2 9 20 3 0 20 3 1 Cumulative Current Funding Cumulative Projected Costs