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

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preservation & maintenance shown. Unfunded costs for capital projects in the CIP may also appear in the MYFP. The Capital Improvement Program document contains information that supplements the information in the MYFP. That document includes descriptions of specific plans, processes, funding sources and restrictions associated with capital projects, a summary of the City’s Financial Management Goals and Policies that apply to capital projects and a review of the City’s debt capacity and debt policies. How Items are Presented in the MYFP The items recommended for highest funding priority each are presented with full details. In an effort to focus and reduce the length of the document, the remaining items are presented in a table form with summary descriptions and summed annual estimated unfunded costs. Additional details can be provided about any of these other items upon request. All items fall within five general plan categories. 1.Continuing Current Services 2.Preserving and Maintaining Existing Assets 3.Achieving Efficiencies or Long Term Cost Savings 4.Implementing Adopted Plans or Policies 5.Improved or Expanded Services Not Part of an Adopted Plan Within each plan category items are organized more specifically by service category. Unfunded costs for each year are shown for each item, net of any potential revenue or savings that would be expected. Three types of costs may be shown: Capital costsare those costs that would be incurred by a capital project, which is the acquisition or extension of the useful life of a fixed asset with a life expectancy greater than one year. Facility Operating costs is the costs of operating a building, site improvement or other fixed asset. This usually includes ongoing maintenance costs and the cost of utilities servicing the asset. Some minimum level of facility costs is unavoidable for every City asset. New capital projects imply additional facility costs. Program Operating costs include the cost of performing program activity and delivering the particular City services. New or continuing program costs may or may not be associated with capital projects and facility costs. Multi-Year Financial Plan FY12-17Page 4