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159 160 Strategy #1: Targeted Use of Excess Cash Reserve Fund 161 Use reserves from the Excess Cash Reserve Fund to provide funding for the 5 funds noted 162 earlier in this report (Police Vehicle & Equip; Public Works Vehicle & Equip; Parks & Rec Vehicle 163& Equip; Streetlight Maintenance; Pathway & Parking Lots). In lieu of property tax increases for 164 capital needs in 2025, staff concluded that the use of the Excess Cash Reserve fund was the 165 best solution at this time. The net impact is a transfer of $525,000 from the Excess Cash 166 Reserve Fund for 2025. 167 168 Strategy #2: Utility Rate Adjustments 169 For 2025, rates for the water, sanitary sewer, and storm sewer utilities will be adjusted in 170 accordance with an updated utility rate study, which includes the planned capital replacements. 171 A specific recommendation will be made after the updated utility rate study is completed in the 172 fall. 173 174 Strategy #3: Future Funding Strategies 175 As shown in the attached CIP, several funds only have resources available to cover the next two 176 or three years of asset replacement/improvements. This means that increased property tax 177 levies may have to be considered, either directly into the funds or through debt service 178 payments, for debt issued to fund these long term capital improvements and equipment. 179 180 181 Policy Objectives 182 The establishment and review of the City’s Capital Improvement Plan is consistent with industry- 183 recommended practices as well as the City’s Financial Policies. 184 185 Racial Equity Impact Summary 186 The CIP provides funding for a variety of equipment, vehicles, and materials needed for Roseville to 187 conduct its operation. In 2025, over $12 million is planned to be spent for these purposes. Under our 188 purchasing policy, staff is directed to consider small and minority businesses when making 189 purchases. Specifically, the policy states: 190 191 Disadvantaged Businesses 192 The City will utilize businesses owned and controlled by socially and economically disadvantaged 193 individuals in the procurement of goods and services, and the award of contracts when possible. The 194 City will, in accordance with authority granted by federal regulations, state statute, and local laws and 195 ordinances, act affirmatively to create a “level playing field” for women-owned, minority-owned and 196 disadvantaged business enterprises to achieve the goal of equal opportunity. 197 198 Assistance to Small and Minority Businesses 199 Required Effort. Staff must make good faith efforts to ensure small businesses, minority-owned 200 businesses, and women’s business enterprises are used when possible. Such efforts may include, but 201 shall not be limited to: 202 a. Including such firms, when qualified, on solicitation mailing lists; 203 b. Encouraging their participation through direct solicitation of bids or proposals whenever they are 204 potential sources; 205 c. Dividing total requirements, when economically feasible and in compliance with state law, into smaller 206 tasks or quantities to permit maximum participation by such firms; 207 d. Establishing delivery schedules, where the requirement permits, which encourages participation by Page 5 of 6 Qbhf!38!pg!99