CIP 2027-2031 (Final) - Flipbook - Page 24
PROPOSED 5 YEAR CIP - 1ST READING
JULY 16, 2026
Parks & Recreation Capital Expansion Fund
This fund is used to account for the accumulated revenues derived from Parks and Recreation
Impact Fees collected from newly constructed facilities. These impact fees are used to help
defray the cost of capital expenditures necessitated by growth and must be used for expansion
of Parks and Recreation needs and facilities.
The City will continue to maintain and enhance its parks and recreation facilities, honoring
their historical significance while ensuring they remain enduring assets for the community’s
welfare and remembrance.
Parks & Recreation Capital Expansion Funding Analysis:
Revenue projections are based on the current estimated revenues for FY 2025/26 with an
assumed annual increase of 3% used for FY 2027/31.
In FY 2025/26 an independent consultant conducted an impact fee rate study, and new rates
were implemented based on the recommendation of the study. Rates are now in line with
growth and future revenues will allow the City to further enhance the City’s park system. A
State Appropriation amount of $350,000 was approved for the Lake Willie Walk project – a
50% match.
Over the next five years, the projected ending fund balance is $774,834. Once the Parks
Master Plan is complete, the City will actively begin enhancing parks.
By strategically using expansion funds, the City can ensure the realization of the park’s upgrades
and improvements without compromising other essential needs. Through prudent financial
management and collaborative efforts, the City will be able to uphold the heritage and
significance of the parks and recreation facilities, while enhancing the City’s overall beauty
and functionality for the benefit of the community.
P&R Capital Expansion Fund
Fund Balance, Less
Investm ent in Capital
$
Interest Earnings
State Appropriations
Impact Fee
Total Revenues
Total Funding Available
Actual
Estim ated
Proposed
Projected
Projected
Projected
Projected
FY 24-25
FY 25-26
FY 26-27
FY 27-28
FY 28-29
FY 29-30
FY 30-31
383,330
$
395,432
$
440,432
$
280,102
$
219,617
$
86,717
$
425,691
14,321
16,000
22,500
23,175
23,870
24,586
-
-
350,000
-
-
-
25,324
-
98,594
160,000
247,170
296,340
305,230
314,387
323,819
112,915
176,000
619,670
319,515
329,100
338,973
349,143
496,245
571,432
1,060,102
599,617
548,717
425,691
774,834
-
Less:
Operating Expenditures
205
-
-
-
-
-
Transfers to General Fund
2,500
-
-
-
-
-
-
CIP Expenditures & Encumbrances
98,108
131,000
780,000
380,000
462,000
-
-
Total Expenditures
100,813
131,000
780,000
380,000
462,000
-
-
Net Operating Incom e (Loss)
Fund Balance, End of Year
12,102
45,000
(160,330)
(60,485)
(132,900)
338,973
349,143
$
395,432
$
440,432
$
280,102
$
219,617
$
86,717
$
425,691
$
774,834
NOTES:
1. Beginning Fund Balance in FY 2024/25 ties with ACFR for FY 2023/24 year-end balance
2. Impact fees are projected at 330 new residential units per year with a 3% growth increase each
year.
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