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will be required in the future. The attached <br />five-year projection assumes a 10% annual <br />increase. <br />Potential CIP projects in 2021 include: <br />Casco Circle ($49,380), Park Lane & Elm <br />Street ($26,190), Navarre West Road and <br />East Roads ($88,855), Eileen Street ($7,725), <br />manhole rebuilds ($35,000), Casco Point <br />Park Outlet ($58,000), South Casco Point <br />Road sump ($36,000), Casco Point Park <br />Bioretention basin ($55,000), Fagerness <br />Point Road drainage system ($80,000), and <br />Storm Sewer Improvements ($50,000). The <br />capital expenditures total $536,150. The <br />anticipated cash balance for the fund at the <br />end of 2020 is $1,433,719. <br /> <br />Recycling <br />The recycling funds major expenditure line is <br />for contracted recycling charges. The current <br />contract with Waste Management is <br />increasing 4%. The Recycled Materials has <br />weakened in the past few years since 2018. <br />The full time wages that are charged to the <br />fund represent 10% of the City Clerks wages. <br />The anticipated cash balance for the fund at <br />the end of 2020 is $70,382. <br /> <br />Cable <br />The Cable funds projected revenues are <br />based on current subscriber information and <br />rates. The line item for Internet/Other <br />communications covers the costs associated <br />with streaming and online access of council <br />meetings. It has been increased to pay for the <br />increased cost of our fiber internet <br />connection. Revenue for the fund is in the <br />from franchise fees that are set by the City’s <br />franchise agreement with Mediacom. The <br />current cash balance of the fund is $169,102. <br /> <br />Construction Funds <br /> <br />The City does not adopt formal budgets for <br />construction funds. Possible projects for <br />these funds can be found in the CIP. The CIP <br />is a planning tool only; approval of the CIP <br />not approve or authorize any purchases. The <br />projects identified in it will require individual <br />approval from the Council before they can be <br />started. <br /> <br />Capital Improvement Plan <br /> <br />In 2012 the City formally adopted a Capital <br />Improvement Plan (CIP). In order to keep the <br />CIP useful, it is updated on a yearly basis. An <br />updated copy of the CIP for 2021 is included <br />with this memo and will be approved tonight. <br />The CIP is a planning document only and <br />approval of the CIP does not constitute <br />approval of any expenditures. <br /> <br />There are two main focusses of the CIP. First <br />is the CIP items that have been identified as <br />needs by staff. The Second is available <br />funding for the CIP. Many funding sources <br />are not adequate to fund the CIP items so <br />funding will need to be secured prior to <br />moving forward with the projects. <br /> <br />The funding for the Street CIP includes an <br />additional $300,000 in tax levy starting in <br />2023. In that year, the levy needed for debt <br />service will decrease by $300,000 and by <br />transferring the levy to the CIP, there will be <br />adequate funding for roads. This increased <br />levy for the CIP will require Council <br />approval at that time. <br />City of Orono - 2021 Budget Page 6