Examples of capital projects include the replacement of a water or sewer line, installation of traffic signals, or the development of a new park. The amount an organization is investing in capital assets and capital projects shows their commitment to maintaining infrastructure and providing quality services. The numbers represent the total annual expenses made in these areas and are inclusive of all funding sources and types.
Data Source: This data comes from the City’s Financial Reporting Team from their reporting software (CaseWare). It includes all expenses/expenditures (i.e. capital outlay/noncapitalized exp.) from the City’s Capital Project Funds for both Governmental and Proprietary Funds, but does not include capital contributions or special donations.
The number for fiscal year 2019 is a preliminary number as the city's books have not been closed yet. Final numbers are anticipated in January 2020 and will be updated at that time and will be accompanied by an update to the analysis. The previous analysis is below for reference.
Over the four-year period, infrastructure investment has increased 38.18%. The city continues to enhance the process to develop a Five-Year Capital Improvement Plan, which includes identification and prioritization of current and future funding requirements for capital projects. As part of that process, capital funds are included in the current year budget for pay-as-you-go funding to pay for capital assets and expenses. In FY2018 the city allocated $0.0650 of the property tax rate from General Fund operating expense to General Capital items, which provides a 4 percent increase in available PAYGO funding over the FY2017 PAYG amount. For the General Fund, this translated to a capital investment of $37,038,000. The increased emphasis on capital funding will focus primarily on maintenance of existing capital.