Secondary and Cumulative Impacts Master Management Plan - 2014

introduction FY2014

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Expenditures for major maintenance or replacement projects on existing public facilities

financial capacity in terms of sustainability of future budgets. c. Allow for revisions to prioritization and budget as Council directs d. Select projects to activate, schedule in CIP within the five year timeframe based on 5YrLRFM projected financial capacity 5. Present an Updated Capital Investments Program in conjunction with Annual Operating Budget a. Prepare every other year an Updated 5YrCIP document b. Engage in formal Public Hearing in conjunction with Annual Operating Budget on the Updated CIP. c. Allow for revisions as Council directs 6. Implement and Monitor Capital Budget in conjunction with Annual Operating Budget a. Project manager assigned to active projects b. Refine project milestones and cost schedules c. Project manager prepares progress reports bi- annually in conjunction with preparation of Updated 5YrCIP d. Assess Bond funded projects 7. Evaluate CIP Process a. Consider organizational/process issues and adapt b. Review forms, documents and survey effectiveness and adapt c. Examine financial assumptions and funding sources and adapt EVALUATE AND PRIORITIZE PROJECTS Formal methods of priority setting tools follow a defined, consistent, and written process. More specifically, a criterion is established to measure whether the Town Goals will be met and mandates are addressed. Utilizing such a tool can level the competition for limited resources among competing demands more efficiently and effectively. Staff utilizes the Project Evaluation Criteria adopted by Council to aid in the prioritization of proposed projects. A preliminary prioritization list will be created based on the application of the adopted criteria. Staff presents the list to Council to evaluate, modify prioritized list, and direct staff to activate project for funding within financial capacity. Please see the Project Evaluation Criteria form in this section.

CAPITAL INVESTMENTS PLANNING CALENDAR

The Capital Investment Planning Calendar will coincide with the Annual Operating Budget Planning Calendar every other year providing for a two-year CIP cycle. The most recent adopted 5YrCIP will be used in the annual budget development process.

POLICIES The CIP will be subject to the same financial polices as the Annual Operating Budget.

STEPS IN CIP PROCESS 1. Prepare Capital Needs Assessment once every other Fiscal Year. a. Conduct departmental needs survey for repair and/or replacement needs on odd fiscal year b. Conduct community needs survey to collect input on areas of focus on even fiscal year 2. Develop Capital Projects and match to needs assessment a. Review status of previously approved projects b. Use departmental and community survey data to identify and develop information for new Capital Projects c. Examine capital project alternatives d. Staff completes and submits to budget office update and/or new capital project forms 3. Evaluate and Prioritize Projects a. Review project application submittals b. Staff uses Project Evaluation Criteria to preliminarily prioritize all capital projects c. Prepare a CIP Prioritization Listing for Council to evaluate and adjust 4. Assess financial capacity and Funding Options a. Upon completion & Council acceptance of Annual Audit, the 5YrLRFM will be updated to project potential financial capacity within a five-year timeframe. b. Program in long-range planning model prioritized capital projects based on the current adopted 5YCIP document and test

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