AgdaPkt 2002-04-01 - Laserfiche WebLink

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IREPORT To the Honorable MayOr and .C.,ity Council From the C~ty Manager April 1, 2002 Subjects 1. Draft Capital Improvement Program budget 2. Feasibility analysis of new City Council priorities Recommendation Review and discuss draft Capital Improvement Program budget and City Council priorities feasibility analysis. Provide input to staff for further refinements to Fiscal Year 2002/03 CIP, operating budgets and/or Council priority list. Background The City Council met on January 26 and February 4, 2002 to set priorities for 2002 to 2004. The results of those discussions are tabulated on the attached "A List" and "B List / Radar Screen" summaries. The Council asked the City Manager to provide a feasibility analysis of each of the 15 "A List" items, so that further deliberations may occur in the context of the pending Fiscal Year 2002/03 and 2003/04 city budget process. The feasibility analysis is attached. Each year, the staff forwards a draft Capital Improvement Program (CIP) budget to the Council. The purpose of the initial presentation and discussion is to validate that the ClP reflects both the staff's recommendations for prudent capital investment and infrastructure replacement and the Council's policies. This year, with the economic downturn and the anticipated shortfall in city revenues, the draft CIP (attached) for the next two years has been trimmed in some on-going repair and replacement categories, while essentially maintaining the investment patterns established over the last few years. Staffwill highlight changes and ask the Council if we are on the right track. For estimated year-end fund balances, see attached "CIP Funds 357 and 263 - Estimated Revenues and Discretionary Expenditures Summary". Expenditures for previous Council priorities, such as sidewalk repairs, have been maintained. The draft CIP does not include new priority projects yet. Council will discuss how best to fund those new projects and initiatives over the next few months. With respect to the new Council priorities, staff has attempted to create a menu of funding options that will ensure that many of the priority projects move forward (see attached "CIP / Priorities Funding Matrix"). Some alternatives, such as fully funding the top priority, then moving down the ranked list, are not recommended by staff. Instead, staff will work with the Council over the next weeks and months to refine estimates and funding choices, while also working on specific priority tasks as reflected in the Feasibility Analysis. Finally, staff recommends that the Council upgrade the Redwood Shores Branch Library from "B List" to "A List" status. This project was reflected in Council priorities two years ago 1 of 2