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2015_Approved Budget and CIP.pdf
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2015_Approved Budget and CIP.pdf
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City of Roseville — 2015 Budget <br />Capital Im�rovement Plan Overview <br />As part of the City's Park Renewal Program and the more general Park Improvement Program, the City <br />expects to make nearly $47 million in improvements to regional and neighborhood parks over the next <br />two decades. In addition, nearly $9.5 million in capital replacements are expected at the City's Skating <br />Center and Golf Course. <br />An even larger capital investment is planned for the City's water and sewer infrastructure, much of <br />which was originally installed in the 1960's and 70's and is expected to reach the end of its useful life in <br />the next two decades. Approximately $68 million in utility infrastructure is scheduled for replacement <br />or re-lining procedures. <br />A similar reinvestment is expected with the City's streets and pathways as these infrastructure <br />components proceed through their normal resurfacing and replacement cycles. Approximately $58 <br />million in scheduled improvements are eXpected over the next 20 years in order to maintain current <br />street condition standards. <br />The City's general vehicles and equipment replacement needs are expected to total roughly $23 million <br />over the next 20 years. Many of these assets are replaced every 10 years, although police and fire <br />vehicles are replaced at varying intervals depending on the vehicle. Aside from park shelters, the City <br />does not expect to make significant repairs or renovations to any City facilities over the next two <br />decades. Only scheduled maintenance-type repairs and replacements are planned. <br />Financial Impact <br />The CIP will have a substantial impact on utility customers and taxpayers. Significant rate increases <br />were enacted during previous years for the City's water, sanitary sewer, and storm sewer systems to <br />fund scheduled improvements. For 2015 and beyond, only inflationary increases are expected. <br />The impact on property taxpayers is likely to be greater however. If all of the property tax-supported <br />items contained in the CIP are funded including; vehicles & equipment, building and street <br />improvements, and park improvements, taxpayers can expect to pay approximately 5% more each year <br />for the next 20 years. This is in addition to any inflationary-type increases that will be needed for day- <br />to-day operations. <br />This assumes that all property tax-supported capital items will be funded through systematic increases in <br />the annual property tax levy, and that no other alternative funding sources are captured. In addition, it <br />also assumes that all existing assets will be replaced with something similar at the end of their useful <br />lives. It is likely that some assets will be retired with no intent of replacing it. <br />The combined financial impact to Rosevi]le homeowners if all items contained in the CIP are funded <br />would result in an increase of approximately 5% per year above and beyond what they're currently <br />paying in property taxes and utility charges. Again, these same homeowners will also face inflationary- <br />type increases for general operations as well. <br />79 <br />
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