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--T-1 r/y, 4f <br />MEMORANDUM <br />TO: PARK COMMISION <br />FROM: ADAM T. EDWARDS, PE <br />SUBJECT: PARK CAPITAL IMPROVEMENT PLAN AND BUDGET FOR 2017 <br />DATE: NOVEMBER 7, 2016 <br />Exhibits: <br />a. Draft Park CIP. <br />b. Draft Operating Budget for 2017 <br />c. Park Dedication Fund History <br />1. Purpose. The purpose of this item is to provide the Commission and update and provide an <br />opportunity for comment on the Capital Improvement Plan (CTP) and Budget for 2017. <br />2. Summary The CIP lays out future capital expenditures. The plan is revised annually and <br />submitted for approval to the City Council. The 2017 draft is attached (Exhibit A). Additions <br />this year include reconstruction of the Antoine Park playground surface. Should the North Arm <br />Trail and or CSAH 112 Trail Extension be approved they would be added to the CIP. The <br />Operating Budget for Parks is largely unchanged from 2016. <br />3. Funding. <br />A. The Park CIP is primarily funded from the Park Fund. The projected Fund Balance at the <br />end of 2017 is approximately $800,000. This is based on the Draft CIP. A History of the Park <br />Dedication Fee and Fund is Included as Exhibit B. <br />B. The Park Operating Budget is funded from the General Tax Levy. <br />3. Action. The Park Commission should review and provide any comments for the CIP and <br />Operating Budget. <br />