Memo
TO: Mayor Collins and Town Council Members
FROM: Kevin Burke, Town Manager
Dawn Marie Buckland, Director of Administration & Government Affairs
DATE: March 9, 2017
DEPARTMENT: Administration and Government Affairs Department
Staff Contact
Dawn Marie Buckland, 480.348.3555
End
AGENDA TITLE:
Title
FY 2018 Budget Overview and Capital Improvement Program
Body
Council Goals
Develop a long term sustainable budget; Address police pension funding requirements; Ensure financial health without compromising Town values; Identify a funding mechanism for CIP
SUMMARY STATEMENT:
In local government, the budget is not only a financial plan, but also an operations guide, a communications device, and a policy document. As such, it is an integral part of policy discussions with Council throughout the year.
The March 9 study session will provide an overview of economic forecasts, local conditions, and the Town's organizational goals that provide the basis for the budget and long range financial plan. The bulk of the study session will focus on the Town's capital improvement program.
The Capital Improvement Plan (CIP) is a multi-year plan which identifies and prioritizes the Town's anticipated capital needs. The CIP identifies which projects will be constructed over the next five years, their impact to the community and quality of life, and how they will be funded. It is adopted as a part of the budget resolution and presented as a separate section of the budget document. Attached please find a DRAFT CIP for the next five years. This Study Session will review projects with Mayor & Council to determine continued interest, appropriate scope, desired timing, and cost considerations.
The Town decides the cost threshold and types of projects. At this time, staff recommends projects greater than $100,000 and a useful life of at least two years (excluding vehicles and other rolling stock) which would result in the following types of projects:
? Renewal...
Click here for full text