CIP FY 24-28 9-7-23 FINAL Version - Flipbook - Page 29
Capital Improvements Plan
Law Enforcement Capital Expansion Fund
The purpose of this fund is to accumulate revenues derived from newly constructed facilities. These
fees are vital in offsetting the cost of capital expenditures necessitated by the City’s growth and
expansion. Specifically, impact fees are collected for the Law Enforcement Capital Expansion Fund,
which funds projects related to this important area.
Revenue projections are based on the current FY 22/23 estimated revenues, with an anticipated
annual increase of 3% throughout FY 23 to FY 28. As new Eustis subdivisions are being developed,
these projections are expected to align with the growing demands.
To address the effects of inflation and the rising costs of commodities and services, a 5% expenditure increase is applied for FY 23/25, followed by a 3% increase for FY 26/28. By wisely managing
this fund and ensuring the appropriate allocation of resources, the City endeavors to efficiently
accommodate its growth, enhance its services, and sustain a thriving environment for its residents
and businesses.
Law Enforcement Capital Expansion Funding Analysis:
In the upcoming five years, the estimated total cost of projects amounts to $200,000, while the ending
fund balance is projected to be $437,050. This surplus provides ample room for additional projects
that may arise during this period, enabling the City to be flexible and responsive to evolving needs.
One of the key projects on the horizon is the Police Department’s FY 23/24 Evidence Storage project,
which will be skillfully executed by the Public Works department. This collaboration between
departments ensures a seamless and efficient implementation, allowing for the smooth operation
and enhancement of the Police Department’s vital evidence storage facilities.
By maintaining a healthy fund balance and fostering interdepartmental cooperation, the City is
well-positioned to not only achieve the planned projects but also remain prepared for any new
endeavors that contribute to the well-being and safety of its residents and community as a whole.
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