Page 518 - Hurst FY19 Approved Budget

CITY OF HURST

CAPITAL IMPROVEMENTS PROGRAM

CAPITAL IMPROVEMENTS PROGRAM SUMMARY

The City of Hurst Capital Improvements Program (CIP) is a process by which the City
develops a multi year plan for major capital expenditures that matches available
resources and satisfies City tax rate objectives and long-term plans. The CIP, a separately
published document, lists each approved and approved capital project, the time frame
in which the project is estimated to be undertaken, the financial requirements of the
project, and approved and approved methods of financing. The CIP attempts to identify
and plan for all major capital needs, both currently funded and unfunded, and deals with
capital items that are different from those which are typically covered under the capital
outlay category in each department’s operating budget. Projects are divided into short
range (necessary within three years), intermediate range (four to six years) and long
range (beyond seven years). Generally, the CIP includes improvements costing $100,000
or more, that are debt funded, that are non recurring and have a multi year useful life
resulting in fixed assets. These include the construction and acquisition of new buildings,
additions or renovations of existing buildings, construction and reconstruction of streets,
water and sanitary sewer improvements, drainage improvements, land purchases and
major equipment purchases. Projects are identified for funding through staff analysis,
citizen input and meetings with City Council and Boards and Commissions.

As projects in the CIP are finally approved for financing by the City Council, they are
moved from the “unfunded” section of the CIP to the “funded” section and become
part of the detailed capital project lists in this section of the operating budget. The lists
herein are categorized by funding source and project type as follows: Street Bond Fund,
Drainage Bond Fund, Water and Sewer Bond Fund, 2005 General Obligation Bond Fund,
2012 General Obligation Bond Fund, Community Services Half-Cent Sales Tax Fund,
Anti-Crime Half-Cent Sales Tax Fund, Special Projects Fund and Storm Drainage Utility
Fund. A section for miscellaneous or other funding sources is also included. Descriptions
of each fund and related financial statements are included on pages 373 to 403.

THE CITY’S GENERAL APPROACH AND OPERATING IM-

PACT OVERVIEW

The CIP for the City of Hurst is focused on adding value and extending life of City

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