City Council Agenda and Packet 2013 06 27

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do not overestimate the ability of the General Fund to cover ongoing operational costs. Also, based on new projections of building-related revenue, I have included $2.5 million in transfers from the Impact Fee Fund to the Capital Projects Fund from 2014 through 2018. The resulting recommended C-I-P addresses the City's highest priorities using the revenues we can reasonably expect to receive and maintains 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 2014 project costs in the 2014 Recommended Budget, which I will present in October. Document Structure The following information summarizes my recommendations. The information is arranged in three general sections, as follows: 1. This transmittal letter, which includes a summary of all projects by fund, with requested and recommended amounts (pages I-XX) 2. A summary of all projects by fund, with project costs per year (pages 1-9). 3. A copy of each submitted C-I-P Project Request Form (pages 10-173) Note: the dollar amounts and timing of funding shown on these forms reflect the original request; they have not been adjusted to reflect my recommendations which are shown in the summary tables. Revenue Assumptions & Expenditure Targets In order to project the funding that will likely be available to pay for the proposed C-I-P projects, we have updated revenue assumptions and expenditure targets on which the Long-Term Financial Model is based. The following two charts summarize some of the more significant assumptions and targets affecting the funds containing capital projects. II 4