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Department Approval <br />�. �: � <br />Item Description: <br />�� <br />.r— <br />REQUEST FOR COUNCIL ACTION <br />Date: 08/17/15 <br />Item No.: <br />City Manager Approval <br />Review the 2016-2035 Capital Improvement Plan & Funding Strategies <br />BACKGROUND <br />� At the April 20, 2015 City Council meeting the Council established a 2016 Budget Calendar which <br />outlined a series of steps to establish an eventual budget. The calendar is as follows: <br />2016 Budget Calendar <br />Departmental Budget Presentations .............................................................. May 27, June 1, 2015 <br />Discussion on City Council Budget Goals & Priorities ............................................ June 15, 2015 <br />Present the City Manager Recommended Budget ..................................................... July 13, 2015 <br />Present the City Manager Recommended Budget to the Finance Commission ........ July 14, 2015 <br />Preliminary Budget Hearing ................................................................................. August 10, 2015 <br />� Joint Meeting with the Finance Commission/Review CIP Funding Strategies.... August 17, 2015 <br />Adopt the Preliminary Budget ......................................................................... September 14, 2015 <br />- Continue Discussions on the Budget/Review Water & Sewer Fees ....................October 19, 2015 <br />Final Budget Hearing .......................................................................................November 30, 2015 <br />Adopt the 2016 Water & Sewer Rates ............................................................... December 7, 2015 <br />Adopt the 2016 Final Budget ............................................................................. December 7, 2015 <br />The next step in the Budget Calendar is to review the Capital Improvement Plan (CIP) and funding <br />strategies. A brief overview of the CIP and funding strategies will be presented at the meeting and are <br />� included in Attachment A. <br />POLICY OBJECTIVE <br />Establishing long-term capital replacement plans is consistent with municipa] best practices as well as <br />� the goals and objectives established by the City Council. <br />FINANCIAL IMPACTS <br />Not applicable. <br />STAFF RECOMMENDATION <br />, , Not applicable. <br />Page 1 of 2 <br />