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Colchester Capital Budget Presentation Updated
- 1. Town of Colchester CAPITAL BUDGET PROGRAM FISCAL YEARS 2016 THROUGH 2020
- 2. Purpose of the Capital Budget To identify major physical improvements needed to serve the community for the next five years.
- 3. What is a Capital Project A major improvement of a non-recurring nature to the physical plant including buildings, parks, streets, facilities (24 V.S.A. § 4430)
- 4. What is Included in the Capital Budget Vehicle and Equipment Acquisition Facility Repairs and Improvements Transportation Improvements Drainage Improvements Park Improvements Information Technology Improvements
- 5. How is the Plan Funded Local Funding Programs Year Authorized Authorization Term Funding Method CEFP 2014 2032 Fixed Rate ($0.019) CTP 2010 2016 Fixed Rate ($0.035) PCP 2011 2016 Fixed Rate ($0.005) Bridge 2000 2014 Reserve (Expired) Technology Fund 2010 2015 Reserve $25,000/yr. Communications Fund 2010 2015 Reserve $20,000/yr. Recreation Impact Fees N/A N/A Impact Fees State Transportation N/A N/A Grants/Aid Federal Transportation N/A N/A Grants/Aid
- 6. FY16-FY20 Planned Expenditures Capital Assets Planned Expenditures Information Technology $395,765 Facilities $557,400 Parks $705,212 Equipment $1,662,653 Transportation $15,887,455 Total $19,208,485
- 7. FY16-FY20 Transportation Expenditures 2% 6% 6% 10% 13% 16% 47% Expenditures Roadway Reconstruction Storm Water Paving Bridge Pedestrian Intersection Safety Intersection Capacity
- 8. FY16 – FY20 Funding Sources $6,587,890 $12,620,595 Funding Local Funds Other Funding
- 9. Future Capital Needs FY21-FY30 $106,881,108 $44,577,629 Unfunded Capital Needs Funded Capital Needs
- 10. Future Capital Needs FY21-FY30 $80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $0 Funding Needs
- 11. Next Steps Formal Adoption of Capital Budget and Program Selectboard approves draft as submitted or with changes- 9/23/14 Selectboard warns for public hearing – 9/23/14 Submit to Town Clerk and Planning Commission 15 days prior to public hearing Planning Commission may submit a report prior to public hearing Selectboard may adopt after public hearing – 10/28/14