City Council Agenda and Packet 2014 06 24 SP

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Capital Projects Fund from 2015 through 2019 and $1.3 million in transfers from the Impact Fee Fund to the Open Space & Parks Fund from 2015 through 2019. The resulting recommended C -I -P addresses the City's highest priorities using the revenues we can reasonably expect to receive and maintains acceptable 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 2015 project costs in the 2015 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 an overview of revenue assumptions, expenditures targets, and five year projections of revenue, expenditures, and fund balances for all funds containing capital projects. (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 -170) Note: the dollar amounts and timing of funding shown on these forms reflect my recommendations, not the original requests. 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 the 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 7