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REQUEST FOR COUNCIL ACTION <br /> Date: 11/10/14 <br /> Item No.: 12.a <br />Department Approval City Manager Approval <br />Item Description: Review & Acceptance of the 2015-2034 Capital Improvement Plan and Funding <br />Strategies <br />B <br />ACKGROUND <br />1 <br />At the February 24, 2014 City Council meeting the Council considered the proposed 2015 Budget <br />2 <br />Calendar which outlined a series of steps to establish an eventual budget. To date, the budget process <br />3 <br />has included the following steps: <br />4 <br />5 <br />May 12, 2014 Preliminary report on budget and tax levy impact items <br />6 <br />May 22, 2014 Departmental budget presentations <br />7 <br />Jun 16, 2014 Discussion on City Council Budget Goals & Priorities <br />8 <br />Jul 14, 2014 Presentation of the 2015 City Manager Recommended Budget <br />9 <br />Aug 11, 2014 Budget Hearing <br />10 <br />Aug 25, 2014 Review the 2015-2034 CIP & Funding Strategies <br />11 <br />Aug 25, 2014 Continue Discussions on the 2015 Budget and Tax Levy <br />12 <br />Sep 8, 2014 Adopt a preliminary 2015 Budget & Tax Levy <br />13 <br />Oct 20, 2014 Continue Discussions on the 2015 Budget and Tax Levy <br />14 <br />15 <br />The Council is now asked to revisit the CIP discussion that had been initiated in August. <br />16 <br />17 <br />Incorporated within the 2015 Recommended Budget are funding strategies for the 2015-2034 Capital <br />18 <br />Improvement Plan (CIP) including a funding request for capital items scheduled for replacement in <br />19 <br />2015. A memo detailing the CIP is included in Attachment C. A brief overview of the CIP and funding <br />20 <br />strategies will be presented at the meeting and is included in Attachment B. <br />21 <br />22 <br />After reviewing the CIP and supporting documents the Council is asked to formally accept the CIP, by <br />23 <br />resolution, to memorialize the City’s capital needs and funding strategies. <br />24 <br />PO <br />OLICYBJECTIVE <br />25 <br />Establishing long-term financial plans is consistent with industry best practices as well as the goals and <br />26 <br />strategies outlined in the Imagine Roseville 2025 process. <br />27 <br />FI <br />INANCIAL MPACTS <br />28 <br />See attached documents. <br />29 <br />Page 1 of 4 <br />