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: 2/20/2024
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 this first 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 first opportunity to review a portion of the City's proposed Capital Plan. Portions of the proposed 2024/25 and 2025/26 capital budget will be brought to Council for review at each scheduled meeting during the months of February-April 2024. This allows Council to conduct their review of the proposed CIP budget in manageable groupings.
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.
Staff has prepared a Power Point presentation to review the proposed Capital Programs of the various funds discussed below. CIP Project Managers will be available to address Council's questions on proposed projects. To assist Council in reviewing the proposed CIP projects, staff recommends the following: ?
* Staff will present a summary of proposed project appropri...
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