CIP - FY 2025-29 FINAL - Flipbook - Page 20
Capital Improvement Plan
Street Improvement Fund
The
Street
Improvement
Fund
supports
projects
related
to
general
government initiatives specifically for the Public Works Transportation Department. All
projects within this fund are dedicated to the enhancement of the City’s streets and
rights-of-way with monies accumulated from motor fuel gas sources.
Legally restricted, funding is used exclusively to fund street maintenance programs ensuring
that the resources are utilized solely for this purpose. Revenue and expenditure projections
were previously discussed on page 5.
The City strives to maintain a robust street maintenance program, guaranteeing wellmaintained roads and rights-of-way for the benefit of its residents and visitors and ensuring safe
and efficient transportation throughout the community.
Street Improvement Fund Analysis:
Over the next five years, the estimated total cost of projects within this fund
is $15,623,374, including all operating costs, while the ending fund balance is projected
to be a deficit of ($3,798,538). With an excess of all the fund balance being allocated, there is
no funding available for additional projects that may arise.
To complete all planned projects, the City will need to evaluate other revenue sources, such
as General Fund transfers or grants or the City will need to obtain a loan of $1,000,000 during
FY 2025/26, Alternative revenue sources will enable the City to carry out its
envisioned initiatives while efficiently managing its resources for the benefit of the community.
NOTES:
1.
2.
3.
4.
Beginning Fund Balance in FY 2023/24 ties with ACFR for FY 2022/23 Year-end balance
Revenue Projections going forward include a 3% annual increase for FY 2024/29
CIP Expenditure projections for 2024/29 are based on estimated costs for CIP projects
Assumes that project budgets are fully spent each year going forward
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