CAPITAL IMPROVEMENT PROGRAM
completed by Spring 2019. The assessment will provide a comprehensive survey of facilities for structural and mechanical systems and will include condition assessment, replacement value, and recommendations for funding levels for recurring maintenance and rehabilitation to prevent deterioration of City facilities. Staff will utilize this assessment report to assist in identifying preventative maintenance and rehabilitation improvement projects as part of the City’s five-year operating budget, Capital Improvement Program and Strategic Business Plan. Capital Improvements Capital improvements are the building, upgrading, or replacement of City infrastructure, such as residential and arterial streets, bridges, traffic signals, storm drain systems and drainage channels, parks, and public service providing facilities. Infrastructure improvements are considered capital improvement projects when the expected life of the asset spans multiple years (in excess of two years) and expenditures are at least $50,000. These significant non-routine capital expenditures are accounted for as capital projects within the CIP special funds. Equipment, operating, and maintenance costs are identified for inclusion in future operating budgets. In contrast, routine capital purchases of new vehicles, computer hardware, and other equipment are largely accounted for in special funds, such as the Fleet Services and Strategic Technology Plan Funds. These assets are capitalized when the initial individual cost is $5,000 or more with an estimated useful life greater than two years.
The estimated useful lives (Table 1) applied to property, landscape, equipment, and infrastructure assets ranges from three to 62 years.
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FY 2019-21 Proposed Budget
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