FY 2023 ADOPTED BUDGET AS OF 9-22-22 - Flipbook - Page 84
Budget-In-Brief → City Budget Planning Process
Figure 14:
City Budget Planning Process Hierarchy
Long Term Planning
10 Years Comprehensive
Plan
Strategic Plan
Mid-Term Planning
5-Year CIP
FY 2023-27
Vision, Mission, Core
Values
Short-Term Planning
1 Year
Capital Budget
Short Term Goals
Fulfilled by Annual
Operating Budget
Capital Projects Operating Budget Impact
The Capital Fund budget is used to account for financial resources related to the acquisition or
construction of major capital facilities by the City. A capital project is generally non-recurring in
nature and may include the purchase of land, site development, engineering and design fees,
construction, and equipment. Capital projects produce assets with useful lives longer than one year.
Operating costs associated with implementation of projects are a fundamental part of the capital
projects fund budget, and of the overall budget development process. Operating impacts of capital
projects are determined as a project develops and included in the annual budget. Capital projects
can have a major impact on maintenance, utilities, other contractual services, operating supplies
costs and operating itself, as well as impact on insurance and debt services. In recent years, due
to fiscal constraints, the City has focused the Capital Budget on maintaining existing infrastructure,
such as roads and building maintenance projects. Typically, these types of recurring capital
projects have only maintenance impact on the operations.
An exception is the City’s Information Technology projects. These projects provide ongoing funding
for systematic replacement of City’s information and communication systems, and operating impacts
include maintenance costs and software support for the replacement purchases. These projects may
produce ongoing operational savings.
82
City of Eustis, Florida
Adopted Annual Budget