Fiscal Year 2022 Capital Budget Presentation Overview
In the presentation to the Board of Finance, the Capital Committee outlines the Fiscal Year 2022 draft capital budget, emphasizing the importance of the Capital Improvement Program and the history of the capital program investments. The proposed budget addresses the critical need for reinvestment in city infrastructure, details increases for maintaining sustainable initiatives, and highlights leveraging resources for infrastructure projects. Expenditures and revenue breakdown for various capital projects are provided for FY 2022.
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Presentation Transcript
FISCAL YEAR 2022 DRAFT CAPITAL BUDGET Presentation to the Board of Finance From: The Capital Committee Chapin Spence, Cindi Wight, Katherine Schad, Deryk Roach, Sophie Sauve, Norm Baldwin, Martha Keenan
Capital Improvement Program Ensures alignment between the articulated vision and the annual capital budgets Allows for a systematic, simultaneous evaluation of potential new projects Facilitates coordination among the units of government responsible for project implementation to ensure needs are fairly prioritized
CAPITAL PROGRAM HISTORY Capital Program initiated 2008 - $1M annual investment 2013 voters increased annual investment to $2M 2016 voters approved $27.5M Sustainable Infrastructure Bond 2022 critical year to re-invest in the City Infrastructure $2M per year is not sustainable Still addressing deferred maintenance
How we got to todays proposed Budget: Austerity Budget created in January cut everything feasible a deficit of $2,591,964 Increases to maintain Sustainable Infrastructure Initiative: Sidewalks - $1,135,000 Streets - $ 444,000 On-call Consultants - $ 500,000 Facilities items Memorial, 339 Pine, - $ 300,000 Transportation Planning - $ 283,000 New Shortfall - $5,139,273
The Capital Plan has been leveraging our available resources to accomplish large infrastructure projects: Many of these projects have added costs due to soils liabilities across the City Shelburne Street Roundabout additional $500,000 Passenger Rail re-alignment additional $700,000 Champlain Parkway Railyard Enterprise new project with 80-20 split Schiffiliti Park path Washington Berry Intersection
FISCAL YEAR 2022 DRAFT CAPITAL BUDGET Expenditure (3,550,799) $ (1,397,870) $ (10,788,110) $ (1,120,000) $ (1,220,747) $ (331,200) $ (994,275) $ (3,875,733) $ (500,000) $ (5,620,139) $ (2,300,000) $ (1,093,397) $ (840,000) $ (33,632,270) $ Revenue 3,665,490 897,870 10,788,110 BOND FUNDS CAPITAL PROJECT MGMT CHAMPLAIN PARKWAY FACILITIES FLEET INNOVATION & TECHNOLOGY OTHER CAPITAL PARKS RECREATION & WATERFRONT RAILYARD ENTERPRISE STREET & SIDEWALK INFRASTRUCTURE STREET CAPITAL PROGRAM TIF PROJECTS TRANSPORTATION PLANNING Grand Total $ $ $ $ $ $ (1,120,000) $ 114,691 (500,000) - $ $ $ $ $ $ $ $ $ 1,220,747 331,200 494,275 3,249,569 500,000 3,505,839 2,300,000 1,093,397 446,500 28,492,997 $ $- $- $ $ (500,000) (626,164) $- (2,114,300) $ $- $- $ (393,500) (5,139,273) $
TIF Projects Related Costs are covered under CEDO and CT office operating budgets Moran Frame expected to be completed by December 31st, 2021 BTC Improvements design work underway Potential TIF project Main Street Improvements Transportation Planning 28 miles of new bikeways by 2026 Progress 61% 65% of bikeway network is low stress by 2026 Progress 25% Improve top 20 intersections in need of pedestrian safety upgrades Progress 55%
Asset Management Increases cross department collaboration and awareness A focus on condition informs prioritization by business risk exposure Efficiently run assets last longer and require less energy Lifecycle tracking allows funds to go farther Streamlines reporting on labor, materials and costs to assets
Starting in FY17 The Capital Plan has and continues to: Deliver on greatly expanded capital reinvestment initiative (water, streets, sidewalks, bike path, buildings, fleet) by aligning resources Strengthen our asset management / preventative maintenance programs (crack sealing, sidewalk cutting, computerized maintenance management system or CMMS) to extend the life cycle of our assets, minimize failures and reduce overall costs Improve public communications and engagement with Public Information Manager and interactive resources such as our Construction Portal (burlingtonvt.gov/construction) Improve collaboration between GF Departments and Enterprise Funds Advance Champlain Parkway through design and bid process for 2022 construction
Potential Infrastructure monies for facilities ventilation and Net Zero City Hall windows - $750,000 City Hall phase 2 mechanicals - $1,500,000 200 Church Street HVAC - $150,000 Miller Center Windows - $50,000 Broadband to Parks also serve surrounding neighborhoods (ex. Roosevelt Park)
Future Bonding Uses: Continue Street and Sidewalk initiatives - $2,000,000/year Fleet Fire Trucks, Snowplows and Sidewalk Tractors - $5,280,000 over 5 years Public Safety Radio infrastructure - $5,200,000 Transportation Planning projects many options FY22 - City Hall elevator - $175,000 FY22 - 645 Pine curb fixing deteriorated metal siding with concrete curb - $100,000 Replace old maintenance building at Leddy - $1,500,000 Door access improvements all City buildings - $100,000 Video upgrade improve and add cameras to improve security - $200,000
