Annual_Budget_1994_001 - Laserfiche WebLink

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_ . �.i. . � . ._r.a. . � ..�_� PURPOSE To eneure capital expenditures are well planned to enable the city to replace capital items when needed, without requiring eignificant fluctuatione 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 iteme. POLICY . Al1 capital improveaients 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 changea ia population, changes in real eetate development, or changes in economic base will be identified and included in capital budget projectiona. . The City will coordinate development of the capital improve- ment budget with development of the operating budget. Future operational costs aesociated with new capital improvements will be projected and included in operating budget forecasts. . The City will provide ongoing preventative maiatenance and upkeep on all ita asseta at a level adequate to protect the City'e capital investment and to minimize future maintenance and replacement costs. . The City will identify the estimated coats and potential funding sources for each capital project proposal before it is aubmitted to Council for approval. The City will determine the least costly financing method for all new projeeta. IMPLEMENTATION 1. The Capital Improvement Program hae been updated to reflect capital expenditurea through 1997. 2. All itema in the 1994 Budget are programmed in the Capital improvement Program. 3. The following chart shows the arese of expenditure in the Five Year CIP. �