Annual_Budget_1993_001 - Laserfiche WebLink

Home

C1►pIT�I. IlIPROVffi!7T POLICISS PURPOSE To ensure capital expenditures are well planned to enable the city to replace capital items when needed, without requiring significant fluctuations in tax levy. SCOPE All departments and funds are included in the Five Year Capital Improvement Program (CIP). The CIP identifies the timing and financing of all capital items. pOLICY . All capital improvements shall be made in accordance with an adopted Capital Improvement Program. . The City will develop a Five Year Plan for capital improve- ments and update it annually. . The City will enact an annual capital budget based on the multi-year Capital Improvement Plan. Future capital expendi- tures necessitated by changes in population, changes in real estate development, or changes in economic base will be identified and included in capital budqet projections. . The City will coordinate development of the capital improve- ment budqet with development of the operating budqet. Future operational costs associated with new capital improvements will be projected and included in operatinq budget forecasts. . The City will provide ongoing preventative maintenance and upkeep on all its assets at a level adequate to protect the City's capital investment and to minimize future maintenance and replacement costs. . The City will identify the estimated costs and potential funding sources for each capital project proposal before it is submitted to Council for approval. . The City will determine the least costly financing method for all new projects. IMPLEMENTATION 1. The Capital Improvement Proqram has been updated to reflect capital expenditures through 1995. 2. All items in the 1993 Budqet are proqrammed in the Capital improvement Program. 3. The following chart shows the areas of expenditure in the Five Year CIP. 24