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Memorandum <br /> 2 <br /> 3 Date: June 20,, 2011 <br /> 4 <br /> 5 To: Roseville Residents and Businesses, Fellow City Councilmembers, and City Staff <br /> 6 <br /> 7 From: Mayor Dan Roe, City Councihnember Jeff Johnson, City Manager Bill Malinen, and <br /> Finance Director Chris Miller <br /> 9 <br /> Subject-, Second Part of Capital Funding Flan and Preliminary Subconunittee Deport <br /> 1 <br /> 13 The Purpose of the Subcommittee <br /> 14 <br /> 15 As stated in the June 13 subcommittee preliminary report memo, this subcenm'ttee was <br /> 16 established by the City Council as the result of the Council/Staff work plan discussions held <br /> 17 earlier this year, The subcomrnittee was made up of Mayor Roe, Councilmember Johnson, City <br /> 18 Manager Ma.linen, and Finance Director Chris Miller. The purpose of the subcommittee was to <br /> 19 determine a path to a sustainable capital fuming plan for the City in light of the ongoing under- <br /> 20 funding of capital replacement needs, and propose a plan for consideration by the community <br /> 1 and the City Council. <br /> 23 The Problem —A Reminder <br /> 4 <br /> 5 As a refresher of information contained in the June 13 memo, in total, the capital needs for the <br /> 6 City for the next 20 years have been estimated to amount to around $218 million. Of that total., <br /> 7 about 148 million (68% - over two thirds) is un-funded by current sources as projected over the <br /> 8 next 20 years. A graphic example of the current situation follows: <br /> 9 <br /> 1 250,0000000 <br /> a <br /> f $200 000 000 „mm_._„ m_,, <br /> ,...ter"-.�,,.Y..t r....,.,� •�+r......_............... .. 3 <br /> t � � - ,,,,, ,,, v a Cumulative <br /> li" III li Iri 'I.. <br /> I. <br /> 'lul' ' <br /> m.v Current <br /> $1.50,000,000 rc��im�, m,x r �����:������������� m m FundI ng F! <br /> li <br /> o <br /> o"...........��.������. <br /> $100,000,000 is Cumulative I <br /> II I o �i o f ,� ��� .il Ili I! m II I i <br /> �I i it <br /> Yii � i i Frm li � ' II � of II <br /> .... I ° IIioi Ili i iilll�o mi II I'I Ill N�i� � � iii i I <br /> n <br /> Projected <br /> Costs 50"000'.000 <br /> 77 <br /> i <br /> ... Q <br /> t �i 'I Ali u i �ioili <br /> I , <br /> I <br /> $ <br /> t--I T-I r-I r-I r-L r-I s-1 V_i IN IN r4 IN IN C+! IN IN N M M <br /> 0 C3 0 0 0 0 C) 0 a n CD (D 0 0 (D 0 C3 C) 0 0 3 <br /> 3 <br /> 31 <br /> 32 Figure 1. Current Situation -All Funds. The red bars represent cumulative annual capital <br /> 3 costs, while the green area represents cumulative projected current annual budgeted capital <br /> 34 funding. All figures are in o1 1 dollars. <br /> 35 <br />