2011-06-28_PWETC_AgendaPacket - Laserfiche WebLink

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1 Memorandum 2 3 Date: June 20, 2011 4 5 To: Roseville Residents and Businesses, Fellow City Councilmembers, and City Staff 6 7 From: Mayor Dan Roe, City Councilmember Jeff Johnson, City Manager Bill Malinen, and 8 Finance Director Chris Miller 9 10 Subject: Second Part of Capital Funding Plan and Preliminary Subcommittee Report 11 12 13 The Purpose of the Subcommittee 14 15 As stated in the June 13 subcommittee preliminary report memo, this subcommittee was 16 established by the City Council as the result of the Council /Staff work plan discussions held 17 earlier this year. The subcommittee was made up of Mayor Roe, Councilmember Johnson, City 18 Manager Malinen, and Finance Director Chris Miller. The purpose of the subcommittee was to 19 determine a path to a sustainable capital funding plan for the City in light of the ongoing under 20 funding of capital replacement needs, and propose a plan for consideration by the community 21 and the City Council. 22 23 The Problem A Reminder 24 25 As a refresher of information contained in the June 13 memo, in total, the capital needs for the 26 City for the next 20 years have been estimated to amount to around $218 million. Of that total, 27 about $148 million (68% over two thirds) is un- funded by current sources as projected over the 28 next 20 years. A graphic example of the current situation follows: 29 $250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000 $0 N co Ln lD N 00 cn O M dr lf1 lD N 00 01 N N N N N N N N N M M O O O O O O O O O O O O O O O O O O O O N N N N N N N N N N N N N N N N N N N N Date: 6/20/11 Item: 13.a Attachment B Cumulative Current Funding Cumulative Projected Costs 30 31 32 Figure 1. Current Situation All Funds. The red bars represent cumulative annual capital 33 costs, while the green area represents cumulative projected current annual budgeted capital 34 funding. All figures are in 2011 dollars. 35