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ic'C, Case# CITY OF RAMSEY CAPITAL IMPROVEMENT/CAPITAL OUTLAY PLAN 2003-2007 By: Diana Lund, Finance Officer Background: Council was presented Ramsey's 2003-2007 Capital Improvement/Capital Outlay Plan at an earlier work session. Earlier this evening, February 11, 2003, another work session was held to answer any questions and/or concerns that Council had regarding the CIP document. The CIP has been prepared in an attempt to anticipate major capital expenditures in advance of the year in which they are budget requests. Further, several projects may interrelate or require other improvements prior to initiation which would cause delays without prior planning. Additionally, projects may require budgeting over several years or receipt of funds from other sources (i.e. grants) requiring planning completion prior to the funding year. Finally, the plan enables a snapshot of the identified capital needs of the community allowing for continual prioritization of these needs. Approval of the CIP by Council does not authorize spending or initiation of a given project. It does, however, provide a guide for the community for a whole array of private and public decision-making, impacted by public capital expenditures. Therefore, the CIP should receive ratification only if the Council perceives actions contemplated within the plan as reasonable and planned within justified time frames. It shall further be noted that initial project design of public infrastructure projects identified within this plan often begins two years or more prior to the date of construction. " The CIP is not intended to provide for precise budgeting. Capital costs are projected as estimates. Upon each update of the plan, deletions, additions, delays, or other revisions may occur, reflecting changing community needs. These changes allow for budget refinements as a particular project nears actual construction. The plan does not contain a specific designation which denotes project priorities. There is no weighting or matching of priorities between infrastructure types [streets, parks, utilities, building facilities] as each type of project generally has a funding source unique to the project type and from which funds cannot be reallocated. Recommendation: For Council discussion with consideration that Council approve the 2003-2007 CIP noting that this is a forecasting tool and not actual, committed projects and expenditures. Council Actiou: Continue discussion and answer questions regarding the 2003-2007 CIP with consideration of adoption.