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9.B. - Page 1 <br /> REPORT <br /> To the Honorable Mayor and City Council <br /> From the City Manager <br /> April 7, 2014 <br /> SUBJECT <br /> Proposed Capital Improvement Program budget for fiscal year 2014-15 <br /> RECOMMENDATION <br /> Review the proposed Capital Improvement Program (CIP) budget for fiscal year 2014 — <br /> 2015 (FY 2014-15) and provide direction to staff. <br /> BACKGROUND <br /> Each year City Council reviews a proposed CIP budget and provides direction to staff. <br /> A final recommendation is then returned to City Council for formal adoption during City <br /> Council Budget Study Sessions held in June. <br /> The proposed CIP budget for FY 2014-15 is attached. In preparing this proposed <br /> budget, City staff members reviewed the prior year's forecast, removed completed <br /> projects, updated the estimated time and cost to complete continuing projects and <br /> programs, and added new projects based on projected revenue for FY 2014-15. <br /> The proposed budget includes both projects and programs. Programs typically reflect <br /> ongoing annual maintenance expenditures such as pavement resurfacing or equipment <br /> replacement. Program funds are expended in a fairly linear fashion over many years, <br /> reflecting the maintenance nature of the programs. In contrast, projects are typically <br /> installation of new infrastructure, construction of new facilities, or major rehabilitation of <br /> existing facilities beyond the scope of annual maintenance. Projects may also include <br /> the study or design phases of new facilities and infrastructure. <br /> The total Capital Budget is estimated at $ 24,620,000 for FY 2014-15. Funding sources <br /> include the Utility Users Tax (UUT), Gas Tax Construction Fund (GTCF), Transportation <br /> Fund (Measure A) (TF), Grants and Fees Fund (GFF), Water (Capital) Improvement <br /> Fund (WF), and Sewer (Capital) Improvement Fund (SF) and for the first time the <br /> Parking Fund (PF). <br /> The proposed parking expenditures primarily reflect capital costs for procurement of <br /> parking equipment and software, and additional costs tied to implementation of <br /> anticipated updates to the downtown parking program such as signage to reflect new <br /> parking rates or other changes. These CIP parking costs are in addition to the ongoing <br /> parking program operation costs that are included in the City's annual operating budget. <br /> The CIP funds are defined below: <br />