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FUNCTION: |
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FUND: |
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ACCT NO. |
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PERMANENT |
PERMANENT |
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406 FUND |
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IMPROVEMENT |
IMPROVEMENT |
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SUMMARY |
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2008 |
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2006 |
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2007 |
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ITEM |
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ACTUAL |
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BUDGET |
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REQUESTED |
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RECOMMENDED |
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ADOPTED |
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Capital |
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Project |
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$ 58,045,351 |
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$ 43,863,087 |
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$ 91,950,799 |
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$ 48,420,575 |
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$ 50,226,230 |
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Funds |
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FUNCTION |
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The six-year Capital Improvement
Program is reviewed annually and revised, if necessary. The annual review assures |
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that the program will be a
continuing part of the planning process and that it will be consistent with
changing demands |
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as well as changing patterns of
cost and financial resources. The
2008-2013 Capital Improvement Program anticipates |
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the following investment in capital
projects: |
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2008 |
- |
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$50,226,230 |
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2011 |
- |
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$84,074,994 |
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2009 |
- |
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$67,954,305 |
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2012 |
- |
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$58,210,676 |
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2010 |
- |
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$56,484,948 |
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2013 |
- |
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$69,467,959 |
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It has been Common Council policy
to allocate general property taxes and operating transfers which amount to
about |
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one-fourth of the total city tax
levy for capital improvements and debt service requirements, thus avoiding a
"roller- |
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coaster" effect on the tax levy
and saving interest cost on bonded debt. |
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Certain improvement construction is
financed with general obligation improvement bonds which are initially
payable |
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from special assessments. Improvement construction includes sewer and
water construction, streets and street |
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improvement, curb and gutter,
sidewalks, and storm sewer projects. |
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PROGRAM FOR 2008 |
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As adopted by the Common Council,
the 2008 section of the 2008-2013 Capital Improvement Program becomes part |
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of the budget. Recommended sources of funding the 2008
Capital Improvement Budget include Federal, |
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State, and County funds
totaling |
$ 14,915,956 |
. |
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The general tax levy for 2008 is
$4,824,716, which includes $1,300,000 of tax abatement dollars; compared to |
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the 2007 tax levy of $4,929,749,
which included $1,180,000 of tax abatement dollars. |
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There are no dollars programmed to
be transferred from General Fund Operations. |
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