CIP 2027-2031 (Final) - Flipbook - Page 26
PROPOSED 5 YEAR CIP - 1ST READING
JULY 16, 2026
Library Capital Expansion Fund
This fund is used to account for the accumulated revenues derived from Library 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 the
Library’s needs and facilities.
This fund can assist the City with any expansion/enhancements of its library facilities.
Library Capital Expansion Funding Analysis:
Currently, the fund’s revenue is projected to grow marginally at a rate of 3%, generating
minimal accumulated funds. Impact fees were reviewed in FY 2025/26 and it was determined
that the existing impact fee rates were sufficient for the planned five-year CIP projects.
Over the next five years, the projected ending fund balance is $385,722. This allows for
minimal funds to accommodate any expansion projects during this period. However, some of
the projects in this fund may be jointly funded with the Sales Tax Capital Projects Fund and/or
the General Fund. The current library expansion is being jointly funded the Lake County.
The City does purchase +/- $20,000 of e-books from this fund annually. Since that amount is
less than $25,000, it is not included in the City’s 5 Year CIP.
Library Im pact Fees Fund
Fund Balance, Less
Investm ent in Capital
$
Permits & Fees Revenue
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
118,445
$
150,380
$
180,380
$
96,530
$
169,334
$
241,798
$
313,926
48,207
45,000
88,500
88,500
88,500
88,500
County Impact Fees
-
-
157,000
-
-
-
-
Interest Earnings
4,318
5,000
5,150
5,305
5,464
5,628
5,796
52,525
50,000
250,650
93,805
93,964
94,128
94,296
170,971
200,380
431,030
190,334
263,298
335,926
408,222
-
Total Revenues
Total Funding Available
88,500
Less:
Operating Expenditures
205
-
-
-
-
-
Transfers to Other Funds
1,000
-
-
-
-
-
-
-
20,000
20,500
21,000
21,500
22,000
22,500
e-Books
CIP Expenditures
19,386
-
314,000
-
-
-
-
Total Expenditures
20,591
20,000
334,500
21,000
21,500
22,000
22,500
Net Operating Incom e (Loss)
Fund Balance, End of Year
31,935
$
150,380
30,000
$
180,380
(83,850)
$
96,530
72,805
$
169,334
72,464
$
241,798
72,128
$
313,926
71,796
$
385,722
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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