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Roseville Finance Commission <br />Agenda Item <br /> <br />Page 1 of 11 <br /> <br />Memo <br />To: Roseville Finance Commission <br />From: Chris Miller, Finance Director <br />Date: June 13, 2017 <br />Re: Item #6: Review 2018-2037 Capital Improvement Plan <br /> <br /> <br /> <br />Background <br />The following information has been prepared to assist the Finance Commission in assessing the <br />magnitude and financial impact of the City’s 20-Year Capital Improvement Plan (CIP). The information <br />presented below is the same information that was presented to the City Council on May 15. However, <br />included in Attachment A includes partially-revised CIP funding scenarios created by the Finance <br />Commission in prior years for the General Facilities, Park Improvement Program, and Pavement <br />Management Program funds. It should be noted that some of the assumptions used to create these <br />scenarios may no longer be applicable. <br /> <br />------------------------------------------------------------------------------------------ <br /> <br />The CIP contains assumptions and estimations on asset lifespans and replacement costs. It also assumes <br />that all existing city functions and programs will continue at current service levels and the City’s asset <br />and infrastructure needs will remain unchanged moving forward. <br /> <br />In addition, the CIP represents a projection of when asset replacements are likely to occur. Each <br />individual asset is scrutinized prior to replacement to determine whether it’s still needed and if so, <br />whether it truly has reached the end of its useful life. It’s not uncommon to defer the replacement of <br />assets if they’re still in good working condition. Conversely, we sometimes determine that the <br />replacement of an asset needs to be expedited because it’s failing sooner than expected. <br />