Capital Improvements Plan
Any long-range plan is based on certain assumptions or specific definitions about unknown factors of the future. The following definitions and factors are proposed to be used in this 2016-2021 Financial Plan.
- All property taxes will be projected at an increase of 2% per year. All other income will be projected to increase at 2% per year.
- In determining capital expenditure capacity, personnel and operating costs will be evaluated. All employees will be scheduled out for each year at actual grade and step assuming a cost of living increase of 3% annually. Health insurance was projected at 5% a year. Operating costs, which include utilities, repairs, minor equipment, supplies, and other miscellaneous items, will be projected to increase annually at a 3% rate.
- A capital improvement project must cost at least $10,000 and have a useful life of at least three years.
- No consideration will be given in this plan to funding unfunded projects through debt financing.
- A General Fund balance of at least $1,000,000 will be maintained through the period of the plan. All other fund balances will be maintained for necessary expenditures.
Click the link below to view the detailed plan:
Capital Improvement/Financial Plan 2016-2021