City Council Agenda and Packet 2012 06 26 BUDGET RETREAT

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of Office the City Manager June 26, 2012 Mayor Muckle, Council Members, and Citizens of Louisville: With this letter I am submitting to you the recommended Five-Year Capital Improvement Plan for the City of Louisville for the years 2013 through 2017 (C-I-P). Process & Scope Departments submitted capital project requests for 2013 through 2017 for the following funds: Conservation Trust – Open Space & Parks Conservation Trust – Lottery Cemetery Capital Projects Water Utility Wastewater Utility Storm Water Utility Golf Course Building Maintenance Technology Management Fleet Management The Finance Department tabulated and compiled these requests, which totaled nearly $81 million. Finance Director Kevin Watson incorporated the requests into the City’s Long-Term Finance Model. Unfortunately, without alternative financing, it appeared that the City could only fund items totaling about $58 million over the next five years. Consequently, after reviewing all the proposals and identifying the highest priorities, I eliminated projects totaling nearly $22 million from the Departmental requests. I discussed this result with Department staff, made additional revisions based on their comments, and now recommend a total of approximately $58 million in capital projects over the next five years. The resulting recommended C-I-P addresses the City’s highest priorities using the revenues we can reasonably expect to receive and maintains adequate reserves in all funds. Although the C-I-P is presented as a separate document, it is an integral part of the overall budget process and final budget document. Based on Council discussion and direction on the recommended C-I-P, staff will include the 2013 project costs in the 2013 Recommended Budget, which we will present in October. I 4