12-07-2020 Council Packet - Laserfiche WebLink

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AGENDA ITEM Prepared By: MLU Reviewed By: MLU Approved By: DJR Upcoming capital expenditures can be covered by the fund’s current cash balances. Projects identified in the CIP for 2021 include: Annual sewer rehabilitation ($290,000), additional generators ($75,000), grinder station ($20,000), lift station updates ($120,000), additional road project adjustments ($63,000), sewer meter installation into Long Lake, and force main replacement for Tonkawa ($225,000), for a total of $833,000. The anticipated cash balance for the fund at the end of 2020 is $2,019,555. Stormwater The Stormwater Fund is for the most part project based. Operating expenditures are mainly limited to engineering associated with NPDES, SWPPP and other state and federal requirements. Public Works time and materials spent on culvert cleaning/replacement are also charged to this fund. The purpose of this fund is to collect money for the larger Stormwater projects that will be required in the future. The attached five-year projection assumes a 10% annual increase. Potential CIP projects in 2021 include: Casco Circle ($49,380), Park Lane & Elm Street ($26,190), Navarre West Road and East Roads ($88,855), Eileen Street ($7,725), manhole rebuilds ($35,000), Casco Point Park Outlet ($58,000), South Casco Point Road sump ($36,000), Casco Point Park Bioretention basin ($55,000), Fagerness Point Road drainage system ($80,000), and Storm Sewer Improvements ($50,000). The capital expenditures total $536,150. The anticipated cash balance for the fund at the end of 2020 is $1,433,719. Recycling The recycling funds major expenditure line is for contracted recycling charges. The current contract with Waste Management is increasing 4%. The Recycled Materials has weakened in the past few years since 2018. The full time wages that are charged to the fund represent 10% of the City Clerks wages. The anticipated cash balance for the fund at the end of 2020 is $70,382. Cable The Cable funds projected revenues are based on current subscriber information and rates. The line item for Internet/Other communications covers the costs associated with streaming and online access of council meetings. It has been increased to pay for the increased cost of our fiber internet connection. Revenue for the fund is in the from franchise fees that are set by the City’s franchise agreement with Mediacom. The current cash balance of the fund is $169,102. Construction Funds The City does not adopt formal budgets for construction funds. Possible projects for these funds can be found in the CIP. The CIP is a planning tool only; approval of the CIP not approve or authorize any purchases. The projects identified in it will require individual approval from the Council before they can be started. Capital Improvement Plan In 2012 the City formally adopted a Capital Improvement Plan (CIP). In order to keep the CIP useful, it is updated on a yearly basis. An updated copy of the CIP for 2020 is included with this memo and will be approved tonight. The CIP is a planning document only and approval of the CIP does not constitute approval of any expenditures. There are two main focusses of the CIP. First is the CIP items that have been identified as needs by staff. The Second is available funding for the CIP. Many funding sources are not adequate to fund the CIP items so funding will need to be secured prior to moving forward with the projects.