Title
Consider a memorandum/resolution to adopt the Five-Year Capital Improvement Plan for Fiscal Year 2023 - 2027.
Summary
DATE: September 6, 2022
TO: Kent Cagle, City Manager
FROM: Miranda Drake, Director of Budget
SUBJECT: Five-Year Capital Improvement Plan for FY 2023 - 2027
BACKGROUND AND FINDINGS:
The Fiscal Year 2023 - 2027 Capital Improvement Plan (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 2023 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 Plan 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 Plan 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 Plan prior to adoption.
2) Adopt the Capital Improvement Plan as presented.
Which alternative is recommended? Why?
City Council adopt the FY 2023 - 2027 Capital Improvement Plan as presented. The Capital Improvement Plan has been revised to include the projects authorized by City Council to be funded by proceeds of the American Rescue Plan Act.
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 ...
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