Title
Consider a memorandum/resolution to adopt the Five-Year Capital Improvement Program for Fiscal Year 2024 - 2028.
Summary
DATE: September 5, 2023
TO: Kent Cagle, City Manager
FROM: Miranda Drake, Assistant Director of Finance
SUBJECT: Five-Year Capital Improvement Program for FY 2024 - 2028
BACKGROUND AND FINDINGS:
The Fiscal Year 2024 - 2028 Capital Improvement Program (CIP) for the City of Killeen is a comprehensive document that provides a five-year outlook for capital projects. This document serves as a guide for the preparation of the capital budget. Only those projects scheduled for Fiscal Year 2024 will be incorporated into the annual budget. If additional funding becomes available or projects finish under the budgeted amount, projects may move to earlier fiscal years as applicable. The Five-Year Capital Improvement Program is updated on an annual basis. Projects shown in later years are for planning purposes only, as funding and priorities may change during the life of the program.
The Five-Year Capital Improvement Program was developed to establish a long-term commitment to the capital projects necessary to protect the health, safety, and welfare, and to sustain and improve the quality of life of the citizens of Killeen.
THE ALTERNATIVES CONSIDERED:
1) Modify the Five-Year Capital Improvement Program prior to adoption.
2) Adopt the Capital Improvement Program as presented.
Which alternative is recommended? Why?
City Council adopt the FY 2024 - 2028 Capital Improvement Program as presented.
CONFORMITY TO CITY POLICY:
This document conforms to City policies including the Capital Projects Policies.
FINANCIAL IMPACT:
What is the amount of the expenditure in the current fiscal year? For future years?
Adopting this document does not have a direct fiscal impact; however, it is important to note that projects for Fiscal Year 2024 will be incorporated into the annual budget.
Is this a one-time or recurring expenditure?
N/A
Is this expenditure budgeted?
N/A
If not, where will the money come from?
N/A
Is there a sufficient amount in the budgeted line-item for this expenditure?
N/A
RECOMMENDATION:
City Council adopt the Five-Year Capital Improvement Program for Fiscal Year 2024 - 2028.
DEPARTMENTAL CLEARANCES:
Finance
Legal
ATTACHED SUPPORTING DOCUMENTS:
FY 2024 - 2028 Capital Improvement Program