CIP - FY 2025-29 FINAL - Flipbook - Page 27
Capital Improvement Plan
Law Enforcement Capital Expansion Fund
This fund is used to account for the accumulated revenues derived from Law Enforcement 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 Police
Department needs and facilities.
Revenue projections are based on the current estimated revenues for FY 2023/24 with an assumed
annual increase of 3% used for FY 2024/29. To account for on-going inflation and the rising costs of
commodities and services, a 5% expenditure increase was used for FY 2024/26 and a 3%
expenditure increase was used for FY 2026/29.
This fund can assist the City with any expansion/enhancements of its public safety facilities and
equipment.
Law Enforcement Capital Expansion Funding Analysis:
Over the next five years, the projected ending fund balance is $437,366. This allows for sufficient
funds to accommodate any additional projects during this period, allowing the City to remain
adaptable to future needs. Some of the projects in this fund may be jointly funded with the Sales Tax
Capital Projects Fund and the Law Enforcement Capital Expansion Fund.
By sharing the financial burden of qualified projects, the City can ensure the functionality and
modernization of the Police Department’s equipment, which is a number one priority for the
community’s public safety.
Revenue projections are based on the current estimated revenues for FY 2023/24 with an assumed
annual increase of 3% is used for FY 2024/25 to FY 2028/29. To account for on-going inflation and
the rising costs of commodities and services, a 5% expenditure increase was used for FY 2024/25 –
FY 2025/26 and a 3% expenditure increase was used for FY 2026/27 to FY 2028/29.
By efficiently managing this fund and ensuring the appropriate allocation of resources, the City will
be able to efficiently accommodate its growth, enhance its services, and sustain a thriving
environment for its residents and businesses.
NOTES:
1. Beginning Fund Balance in FY 2023/24 ties with ACFR for FY 2022/23 Year-end balance
2. Revenue Projections going forward include a 3% annual increase for FY 2024/29
3. CIP Expenditure projections for 2024/29 are based on estimated costs for CIP projects
4. Assumes that project budgets are fully spent each year going forward
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