2016 Approved Budget and CIP - Laserfiche WebLink

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Capital Improvement Plan –Executive Summary Enclosedis an executive summary of the 2016-2035Capital ImprovementPlan (CIP) as prepared in accordance with the goals and aspirations identified by the City Council, and applicable requirements set forthunder federal and state mandates. The CIP also incorporates the valued contributions made by the City’s advisory commissions, and other citizen groups. With the exception of the upcoming fiscal year, the CIP should not be construed as a request for funding; rather it is designed to serve as a planning tool that can be used to make informed financialdecisions. Only after further discussion and Council approval will capital items be considered funded. However, the inclusion of these items into the CIP signals general support for meeting established service levels. Over the next 20 years, the City expects to spendnearly $183million to replace existing vehicles, equipment, and infrastructure whichwill allow the City to maintain or enhance its programs and services. This assumes that the City will have available funding and that all existing assets will be replaced at the end of their useful lives. It is recognized that some assets maynot be replaced. The largest asset type is the City’s systeminfrastructurewhich represents 71% of the total. The largest asset by City function is water and sewerwhich represents 38% of the total amount, followed by streets and pathwaysat 32%, and park system assets at 12%. The following charts depict the City’s 20-year capital needs. Summary of CIP -By Asset Type $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $- 2016201920222025202820312034 VehiclesEquipmentFurniture & FixturesBuildingsImprovements 80