SUBJECT: Study Session
Title
Council consideration of 2025 Capital Improvement Plan and 5-Year Forecast
Body
DEPARTMENTS: Administration Department
Finance Department
PRESENTER: Malcolm Fleming, Town Manager
Sara Hancock, Finance Director
Kristin Bruner, CIP Analyst
TIME ESTIMATE: 120 minutes
only required for non-consent items
STAFF RECOMMENDATION:
Recommendation
Consider the information staff presents and then identify next steps for staff to address with the 2025 recommended budget, which staff is developing and will finalize and present for Council consideration in October.
End
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
This study session will kick off the 2025 Budget process. The purpose of this session is for staff to provide background financial information to help inform Council’s discussion of the Town’s overall strategic priorities, and to identify specific projects, initiatives and/or policy issues the Council wants to be addressed through the 2025 Recommended Budget.
Staff will use the Council’s input to develop the 2025 Recommended Budget. In October and November, the Council will consider the recommendation, make changes the Council deems appropriate, hold a public hearing on the proposed budget, and then make any final changes before adopting the budget.
The attached presentation gives an overview of the Town’s 5-year forecast for the General Fund and staff recommendations for 2025 capital projects.
Council Priority(s) Addressed:
ü Effective Governance
ü Fiscally Responsible
ATTACHMENTS:
1. Presentation
2. Capital Projects 2025
3. Capital Improvement 5-Year Plan