Multi-Year Financial Plan FY12-17 - Final 4-14-11

Home Browse Search

Recommended Prioritization In light of limitations of financial resources and the many unfunded needs identified in the MYFP, choices must be made about which items to focus on over the next several years. Items recommended for high priority treatment are based on several considerations including: the level of commitment the City may already have regarding a particular item; judgment about the level of new funding that the community might be willing to discuss and approve over the near future; preservation of prior City investments in infrastructure and facilities; the potential impact of funding or not funding on core City services; and the ability of the City to sustainably fund an item over time. These recommendations are a starting point for discussion by Executive Managers, Budget Committee, City Council and citizens, and subsequent budgetary and election sequencing decisions. Summary of Recommended Highest Priority Items The following items are recommended for highest priority consideration. Detailed information on each of these items is included in this document. Note: Amounts shown are in $1,000s. PlanServiceTitle BriefDescription Total Category Category Unfunded Need General General General Fund Resources needed to continue General Funded services over the 26,113 FundFundnext six years. Shortfall Continuing Emergency Ambulance The Ambulance Transport Fund is currently operating at an 7,843 Current Medical/Fire Transport Fund annual financial deficit, primarily due to reduced levels of ServicesServicesShortfall reimbursement from Medicare and Medicaid. ParkingParkingFund The Parking Fund forecast shows that the fund will not have the 3,475 Stabilization resources for $3.4 million in capital major maintenance projects scheduled in the CIP for FY13 through FY15. Parking program staff has identified rate changes and additional operating efficiencies in the fund forecast, but these actions will not to fully eliminate the projected shortfall. Preserving Parks and Parks & Open The voter-approved increase in the park and natural area system 12,000 andOpen Space Spacein recent years has resulted a rapidly growing number of assets Maintaining Maintenance & without sufficient funding to maintain these assets Existing Operations Assets Capacity Public Deferred This item is for unfunded General Fund building maintenance 14,416 Buildings & Maintenance needs. This estimate assumes that building capital preservation Facilitiesresources are increased by $100,000 per year through FY17. These unfunded costs do not include deferred maintenance costs for current City Hall; those costs will be accommodated within the City Hall project funding. EchoThis item will fund major repair or replacement of pool water 2,500 Hollow/Sheldon supply piping and gutter drain systems pools and stabilization of Pool Systems deteriorating pool shells at Echo Hollow and Sheldon Pools. Preservation Multi-Year Financial Plan FY12-17Page 2