Agenda Item Wording:
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Capital Improvement Program - Review select FY 2024/25 and 2025/26 Capital Improvement Program (CIP) Budgets and future capital plans.
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Deadline for Action: 4/15/2024
Submitting Department: Finance and Technology Services
Contact Name and Phone Number:
Melody Murch, (559)713-4379, melody.murch@visalia.city
Renee Nagel, (559) 713-4375, renee.nagel@visalia.city
Department Recommendation:
That the City Council receive the fifth (final) presentation of the City's draft Capital Improvement Program (CIP) budget and provide direction as appropriate. The Council is scheduled to act upon the CIP budget during the month of June in conjunction with the operating budget. No formal action is required or requested at this time.
Background Discussion:
The Review Process- This is Council's fifth opportunity to review a portion of the City's proposed Capital Plan. Portions of the proposed 2024/25 and 2025/26 capital budget have been brought to Council for review at each scheduled meeting between February 20, and April 15, 2024. This allows Council to conduct their review of the proposed CIP budget in manageable groupings. This meeting concludes the capital presentations for all funds except for Community Development Block Grant (CDBG) Fund and Measure N. Tonight is also the second public hearing for the CDBG Action Plan. Once approved, these projects will be added to the budget for adoption. Measure N, operations and capital will be presented to Council on May 6th.
The Capital Improvement Program presents the two fiscal years 2024/25 and 2025/26 for adoption and appropriation. Four additional years are shown for planning purposes only. This allows Council to plan future projects and consider the near-term impacts of those decisions. However, only the first two years are proposed for appropriation and deserve greater scrutiny. Amounts included in the final four years will not be appropriated in the 2-year budget.
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