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HomeMy WebLinkAboutCity of Tamarac Resolution R-2004-1611 Temp Reso #10475 Page 1 June 24, 2004 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-2004- !(/ A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA, ADOPTING AND IMPLEMENTING A CAPITAL IMPROVEMENT PLAN POLICY; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City of Tamarac desires to develop and follow sound financial policies; and WHEREAS, the City Charter, Section 7.06 "Commission action on capital program." Requires the City to maintain a capital program pursuant to Chapter 163 Florida Statutes, the "Local Government Comprehensive Planning and Land Development Regulation Act."; and WHEREAS, in its "Recommended Budget Practices: A Framework for Improved State and Local Government Budgeting", the National Advisory Council on State and Local Budgeting states policies and plans for acquisition, maintenance, and replacement of capital assts help ensure that needed capital assets or improvements receive appropriate consideration in the budget process; and WHEREAS, the Government Finance Officers Association recommends that local governments develop budget policies that follow the National Advisory on State and Local Budgeting's "Recommended Budget Practices: A Framework for Improved State and Local Government Budgeting"; and Temp Reso #10475 Page 2 June 24, 2004 WHEREAS, the City Manager and Director of Finance recommend the adoption and implementation of the proposed Capital Improvement Plan policy; and WHEREAS, the City Commission of the City of Tamarac, Florida deems it to be in the best interest of the citizens and residents of the City of Tamarac to adopt and implement the Capital Improvement Plan policy to ensure the sound management of the City's financial and capital assets. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA: SECTION 1: The foregoing "WHEREAS" clauses are hereby ratified and confirmed as being true and correct and are hereby made a specific part of this Resolution. SECTION 2: The appropriate City Officials are hereby authorized to adopt and implement the Capital Improvement Plan policy hereto attached as Exhibit 1. SECTION 3: All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict SECTION 4: If any clause, section, other part or application of this Resolution is held by any court of competent jurisdiction to be unconstitutional or invalid, in part or application, it shall not affect the validity of the remaining portions or applications of the Resolution. 1 P n Temp Reso #10475 Page 3 June 24, 2004 1 SECTION 5: This Resolution shall become effective immediately upon its passage and adoption. PASSED, ADOPTED AND APPROVED this 14th day of July, 2004. E SCHREIBER, MAYOR ATTEST: MARION S ENSON, CMC CITY CLERK I HEREBY CERTIFY that I have approved this RESOLUTIO as to form. MIT E4S.TCITY Ll RECORD OF COMMISSION VOTE: MAYOR SCHREIBER 00 DIST 1: COMM. PORTNER DIST 2: COMM. FLANSBAUM-TALABISCO DIST 3: VIM SULTANOF DIST 4: COMM. ROBERTS w Temp Reso # 10475 EXHIBIT 1 CAPITAL IMPROVEMENT PLAN POLICY Page 2 Definition of a Capital Project: A capital project has a minimum cost of $25,000 and a minimum useful life of 3 years. Capital projects include, but are not limited to: • Construction or acquisition of new facilities • Major additions and renovations to existing facilities • Construction or acquisition of new infrastructure • Additions to existing infrastructure. • Major repair and replacement to facilities and infrastructure • Large equipment and vehicle replacement plans • Feasibility or engineering studies or design that could lead to future capital projects Capital Improvement Process: 1. Staff will recommend new projects' through the CIP process. 2. The City Manager will appoint a CIP Committee which may consist of staff members from the City Manager's Office, the Finance Department, and departments recommending capital projects. 3. Based on level annual funding from the General Fund, and appropriate contributions from other funds, the'' CIP Committee will prioritize projects and balance the plan for approval by the City Manager. 4. In general, projects will be added to outer years and move forward year by year. 5. The City Manager's proposed CIP will be presented to the Commission at a workshop. With Commission consensus, the capital and operating costs for the first year of the plan will be incorporated into the proposed annual budget. 6. Commission will adopt the first year and conceptually approve the outer four years of the CIP as part of the annual budget process. 7. Projects in process will be included as part of the CIP in the annual budget document. Temp Reso # 10475 EXHIBIT 1 CITY OF TAMARAC CAPITAL IMPROVEMENT PLAN POLICY Policy: In compliance with Section 7.06 "Commission action on capital program." of the City Charter, the. City will develop a five year Capital Improvement Plan which will be a systematic plan to create and maintain the infrastructure and capital assets of the City. The capital and operating costs of the first year of the plan will be appropriated with the adoption of the annual budget. The outer four years will represent the Commission's intent with respect to capital projects for the future. Purpose: The Capital Improvement Plan (CIP) uses the findings from a number of interrelated plans -- Strategic Plan, Comprehensive Plan, Transportation Plan, Parks and Facilities Master Plan, Utilities Plan, Stormwater Master Plan and Street Improvement Plan - to assist in developing an orderly schedule for implementing projects. The CIP helps the City Commission and staff gain an overall view of growth and development within the City and coordinates capital improvements with these changes. It identifies ongoing maintenance and replacement needs of the City's existing capital assets. It also becomes a fiscal planning tool to forecast capital demands on local revenue, to foresee future borrowing needs, if any, and to identify federal, state, and county aid that may be needed. Finally, it ensures capital projects will be implemented in accordance with all of the objectives set by the City Commission within the City's fiscal ability. Objectives: The objectives of the Capital Improvement Plan are to: • Implement the City's Strategic Plan • Link capital needs to funding • Acquire and maintain City assets • Provide orderly replacement of equipment • Identify and prioritize capital projects • Document the funding and implementation of capital projects • Reduce fluctuating demands on the City's revenues • Provide information needed to manage the City's investment portfolio • Demonstrate to the public and to financial markets sound financial management