Page 22 - Manfield FY21 Budget

CAPITAL PROJECT FUNDS

The Capital Improvement Program is developed with the following guidelines whenever possible:

The Capital Improvement Program is developed to match costs against expenses occurring in
corresponding periods of time. In other words, the development and timing of infrastructure
improvements is crucial to maintaining current and future developments while maintaining or lowering
debt ratios. Development fees offset the amount of borrowings in the Street and Utility Construction
funds. In FY 2020-2021, the city is not projected to issue debt but will re-purpose existing debt to
continue to make infrastructure improvements.

The impact of infrastructure improvements on operating and maintenance costs is evaluated and measured
annually during the budget development process and during revisions to the Long-Term Financial Plan.
Operating and Maintenance cost impacts in FY 2020-2021 are reflected in increases in supply costs,
staffing increases and in additional service requirements related to expansion of existing facilities, new
facilities and transmission lines.

Street Construction Fund

Street and roadway improvements in FY 2020-2021 are budgeted at $6,117,976. Street impact fees will
be utilized wherever possible to supplement funding for these projects. In FY 2020-2021, the City will
not issue new debt for street projects.

Utility Construction Fund

Utility improvements in FY 2020-2021 are budgeted at $16,928,588. Impact fees and operating cash from
prior years will fund these projects. Water & Sewer impact fees will be utilized wherever possible to
supplement funding for these projects.

Building Construction Fund

Facility improvements in FY 2020-2021 include $7,208,875 for the construction of improvements to the
library, police headquarters, and a joint police/fire training facility.

MPFDC Construction Fund

Park improvements in FY 2021-2021 are budgeted at $4,977,229 and include land acquisition and
existing park improvements.

MEDC Construction Fund

Economic Development projects in the amount of $3,000,000 are budgeted for FY 2020-2021 for
continued development of the Mansfield International Business Park.

Equipment Replacement Fund

Vehicles, equipment and technology and facility improvements in FY 2020-2021 are budgeted at
$2,750,492 of which $1,535,772 will be transferred from the General Fund.

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