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1 Memorandum 2 3 Date: June 13, 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: Partial Capital Funding Plan and Preliminary Subcommittee Report 11 12 13 The Purpose of the Subcommittee 14 15 This subcommittee was established by the City Council as the result of the Council/Staff work 16 plan discussions held earlier this year. The subcommittee was made up of Mayor Roe, 17 Councilmember Johnson, City Manager Malinen, and Finance Director Chris Miller. The 18 purpose of the subcommittee was to determine a path to a sustainable capital funding plan for the 19 City in light of the ongoing under-funding of capital replacement needs, and propose a plan for 20 consideration by the community and the City Council. 21 22 The Problem 23 24 In total,the capital needs for the City for the next 20 years have been estimated to amount to 25 around $218 million. Of that total, about$148 million (68% -over two thirds) is un-funded by 26 current sources as projected over the next 20 years. A graphic example of the current situation 27 follows: 28 $250,000,000 $200,000,000 ■Cumulative Current $150,000,000 un F ding $100,000,000 Cumulative 1. 1:; 1:1.1..1.. .�. Projected $50,000,000 �.; :::_ Costs ■ I 11111 ■: $0 N CO U (.0 I", CO 01 0 .--1 N m In lD 1■ CO 01 0 .--I r-1 e-1 e-I .--0 r I r I r! .-I N N N N N N N N N N m m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 29 N N N N N N N N N N N N N N N N N N N N 30 31 Figure 1. Current Situation -All Funds. The red bars represent cumulative annual capital 32 costs, while the green area represents cumulative projected current annual budgeted capital 33 funding. All figures are in 2011 dollars. 34