CIP FY 24-28 9-7-23 FINAL Version - Flipbook - Page 18
Capital Improvements Plan
Street Improvement Fund
The funding source primarily supports projects related to general government initiatives, specifically for the Public Works Transportation Department. All projects within this fund are dedicated
to the enhancement of the City’s streets and right-of-way, with monies accumulated from motor fuel
gas sources.
Legally restricted, the fund exclusively caters to street maintenance programs, ensuring that the
resources are solely utilized for this purpose. Revenue projections for this funding source are based on
the current estimated revenues for FY 22/23, with a projected annual increase of 3% for the following
years, spanning from FY 24 to FY 28. To account for inflation and the rise in commodity and services
costs, an expenditure increase of 5% is applied for FY 23/24, followed by a 3% increase for FY 25/28.
By adhering to these financial measures, the City aims to maintain a robust street maintenance
program, guaranteeing well-maintained roads and right-of-way for the benefit of its residents and
ensuring safe and efficient transportation throughout the community.
Street Improvement Fund Analysis:
In the upcoming five-year period, the estimated total cost of projects stands at 1,328,500, while the
ending fund balance is projected to be $15,747. With the fund balance already allocated, there is no
available room for additional projects that may arise during this timeframe.
To ensure the successful execution of all planned projects,the City will need to obtain a loan of
$3,400,000 during FY 24/25, or look for some other revenue sources, such as transfers from other
funds, grants, or financial aids. This financial strategy will enable the City to carry out its envisioned
initiatives while efficiently managing its resources for the benefit of the community.
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