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Financial Programs, Plans, and Reporting that Impact Parks & Rec <br />Asset Management and Infrastructure Program <br />What is it? The Asset Management Program was adopted by the <br />o <br />City of Roseville as a mechanism to track data on all major <br />infrastructure assets within the City. Each department tracks the <br />capital assets under its control, providing data on the current <br />condition, history of repairs, and expected life span of the asset. <br />This data is necessary to feed into and develop the Capital <br />Improvement Plan (CIP), which allows the Departments and the <br />City to better predict the upcoming costs of maintaining assets over <br />the short and long term. <br />Why is it important? <br /> Such tracking of our assets allows the City to <br />o <br />predict and plan for funding to maintain high quality services. <br />Where can I find out more about it? (URL) <br />o <br />Parkand Recreation Renewal Funds <br />What are they? <br />The park renewal program has been going on for <br />o <br />4-5 years. The project kickoff date was May 31, 2014. It was initially <br />funded using a $19 million bond. Although nearing its end, there is <br />about $400,000 left in the park renewal fund account and some of <br />this will be used for ongoing projects. <br />Note: There are outside restrictions on borrowing money for city <br />use. You should spend borrowed money within about 3 years (rule <br />of thumb for generally accepted practice). In the case of current <br />park renewal funds, we are past the 3 year mark with the ultimate <br />goal of making the funds go far, using the money wisely and not be <br />overly rushed just to use it. Internal talks have been ongoing on <br />how to spend this money to the IRS approval. (Southwest Roseville <br />pocket park at Cleveland and Co Rd. B and 1716 Marion Street <br />pocket park) <br />Park Dedication Fees <br />What are they? <br /> Fees that we charge to new development (private <br />o <br />housing or commercial buildings). New construction buys into a <br />established park system. The construction has an added impact on <br />the system so the dedication fees allow them to pay their share. <br />The amount dedicated depends on the amount of construction and <br />varies year to year. Some years there is nothing and some years <br />tens of thousands of dollars. The city mainly uses this fund for <br />acquiring new parkland. Taking money from this fund could hinder <br />new park acquisition in the future. <br />Why is it important? (25 words or less) <br />o <br />Where can I find out more about it? (URL) <br />o <br />Nancy Parks & Rec Primer (partial) draft 1220173 <br /> <br />