CIP Financing Plan (previously named Future G.O. Bond)
Budget & Strategy
Percent Complete: 30%
Start Date: 10/01/2019
End Date: 09/30/2026
In Fiscal Year 2020, to ensure continuous funding for recurring CIP projects, the Budget and Strategy staff met with each department to review and discuss all capital projects listed on their CIP plan. During the budget process the question of “Can we afford to own what we own?” was asked. Additional facilities and radio replacement plans were identified. Approximately $5 million dollars in recurring CIP was identified and less than half of the funding was built into the City’s five-year forecast. Those projects that were found to be non-recurring or not fiscally able to support were moved to an unfunded capital list as an appendix to the CIP plan which is referenced during the budget process and throughout the year as funding becomes available for additional projects. As a result of COVID-19, staff did not want to burden residents and businesses in a year where scaling back was universally understood. However, this will be addressed with the City Commission in FY2022.
Staff is compiling capital needs from prior departmental project lists. A plan is being developed to address aging infrastructure. Elements of this project was presented to the Commission at the June Business Plan Workshop. To properly address capital needs expanding resources/funding will be necessary. Due to COVID-19, the budget reductions for FY2021 does not move this priority forward. This will be addressed in FY2021 for the FY2022 budget.
Initiatives: Closed Out/Completed | On Target/In Progress | Behind Schedule/Late | Discussion Needed Retreat/Workshop Item | Delay/Hold | No Milestone | Not Defined
Initiatives: Closed Out/Completed | On Target/In Progress | Behind Schedule/Late | Discussion Needed | Retreat/Workshop Item | Delay/Hold | No Milestone | Not Defined
City of Coral Springs | 9500 West Sample Road, Coral Springs, FL 33065 | 954-344-1000