HomeMy WebLinkAbout07/12/2016 Joint Financial CIP Review WorkshopJOINT FINANCIAL CIP REVIEW WORKSHOP
Meeting Location: Meeting Date and Time:
Village Board Room 50 S. Emerson Tuesday, July 12, 2016
Mount Prospect, I L 60056 6:00 PM
I. CALL TO ORDER
II. ROLL CALL
Village Board of Trustees
MayorArlene A. Juracek
Trustee Paul Hoefert Trustee Richard Rogers
Trustee John Matuszak Trustee Colleen Saccotelli
Trustee Steven Polit Trustee Michael Zadel
Finance Commission
Chair Vince Grochocinski
Commissioner Pam Bazan Commissioner Don Ocwieja
Commissioner Trisha Chokshi Commissioner Thomas Pekras
Commissioner John Kellerhals Commissioner Mary Rath
III. CITIZENS TO BE HEARD
IV. 2017-2021 COMMUNITY INVESTMENT PROGRAM
The development of a formal five-year Community Investment Program (CIP)
provides a comprehensive view of the Village's capital needs for consecutive rolling
five-year windows. The CIP also addresses the Government Finance Officers
Association best practice recommendation for preparing and adopting a multi-year
capital planning strategy.
The proposed 2017-2021 CIP is generally comprised of projects that involve the
purchase or construction of long-lived, tangible assets at a cost of $25,000 or more.
The total cost of all requests for all years included in the plan is $75.3 million.
Many of the requests in the plan are simply continuations of established projects.
Others are projects not currently in progress but have been discussed by the Village
Board on previous occasions. Some requests are being presented for the first time
through the CIP. Given that the CIP is intended to afford a comprehensive view of the
Village's capital needs, it is fitting that all of these project requests be included in the
proposed plan.
A project's inclusion in the CIP does not guarantee its funding and accomplishment.
The CIP is a planning document. As such, it is subject to change. The CIP is reviewed
and updated on an annual basis. The next Cl P will cover the years 2018-2022.
2017 project requests included in the proposed CIP amount to $11.6 million. This
amount reflects no change from total first-year projects in the 2016-2020 CIP. Projects
included in the first year of the plan include the annual street resurfacing program,
improvements to the water and sewer system, improvements to the downtown area
(wayfinding signage, pedestrian improvements), water detention and flood control, and
various improvements to village facilities.
The proposed 2017-2021 CIP was distributed on June 21, 2016 to the Finance
Commission and the Village Board. The CIP document was also made available on the
village website. The CIP is scheduled for consideration by the Village Board at the July
19, 2016 Village Board Meeting.
Departmental representatives will make a presentation on the projects included in the
five-year plan and will be on hand to answer questions and facilitate discussion.
Strategic Plan: Governance -Fiscal Health
Maintain a solid fiscal position through active stewardship of Village finances.
Examine the Village's basic funding structure for long-term sustainability.
V. ANY OTHER BUSINESS
VI. ADJOURNMENT
NOTE. ANY INDIVIDUAL WHO WORD LIKE TO ATTEND THIS MEETING BUT BECAUSE OFA DISABILITY NEEDS SOME
ACCOMMODATION TO PARTICIPATE, SHOULD CONTACT THE VILLAGE MANAGERS OFFICEAT 50 SOUTH EMERSON,
MOUNT PROSPECT, ILLINOIS 60056, 847/392-6000, EXTENSION 5327