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