1994 AGN NOV 15 I21 - Laserfiche WebLink

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CI TY OF COLTON AGENDA REPORT For Council Meeting of November 15. 1994 TO: Honorable Mayor and City Council Reviewed By, , ,, , c FROM: Paula Chamberlain, Finance Director ��yn,�'��'! SUBJECT: Capital Improvement Projects Budget Date: November 10, 1994 BACKGROUND: Historically, the City of Colton has not prepared a traditional Capital Improvement Project (C.I.P.) Budget. Departments have brought forth to City Council either individual projects or departmental projects. For the first time, the City is preparing a comprehensive C.I.P. Budget for your consideration. Since this is our first attempt at this process and due to time constraints for planning and preparation, the plan is not perfect. All projects for fiscal year 1994/95 have been included, however, future projects have yet to be identified in many departments. Over the next year the process will be refined and expanded to provide you with a better planning tool for the revitalization and expansion of the City's infrastructure. DISCUSSION: Presented for your consideration and possible adoption is the 1994/95 Capital Improvement Projects Budget. Many projects have already been approved and are included to update the Council as to the purpose of the project, cost and status. The report includes project detail worksheets, a recap of the projects, and a financial summary reflecting total project costs as well as a restatement of the revenues and appropriations as approved in the 1994/95 operating budget. If Council chooses to adopt the proposed C.I.P. Budget, they will be adopting an appropriation for the 1994/95 fiscal year only. All projects will be resubmitted for continuation in the 1995/96 C.I.P. which should be presented to Council prior to June 30, 1995. ALTERNATIVES: If the Council does not wish to adopt the C.I.P. at the November 15, 1994 Council meeting, the budget could be sent back to staff for additional review to be brought back to Council at a later time. FISCAL IMPACT: All projects proposed for the fiscal year 1994/95 have or will have adequate funding within their respective funds. Projects funded by State or Federal reimbursement will require "up front" money, as the City does not receive the reimbursement until the funds have been expended and the request processed. Given the state of the City's finances, it will be extremely important to ensure all reimbursement requests are prepared in a timely manner. ENVIRONMENTAL IMPACT• Each project will have a different impact, but all are considered improvements to the City's infrastructure and should not adversely impact the environment. RECOMMENDATION: Council to adopt the 1994/95 Capital Improvement Project Budget. Attachments: Page 1 of _ � f Item No._