Page 28 - CityofMansfieldFY23Budget

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. Impact fees offset the amount of funding borrowed in the Street and Utility Construction
funds.

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 2022-2023 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 2022-2023 are budgeted at $32,026,166. Street impact fees will
be utilized wherever possible to supplement funding for these projects.

Utility Construction Fund

Utility improvements in FY 2022-2023 are budgeted at $25,213,123. 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 totaling $36,127,429 in FY 2022-2023 include construction of the new Police
Headquarters, design for a new Animal Control facility, and design for the expansion of the Chris Burkett
Service Center.

MPFDC Construction Fund

Park projects in FY 2022-2023 are budgeted at $5,230,000 and include existing park and linear trail
improvements, a new playground, a restroom facility at the golf course, and land acquisition.

MEDC Construction Fund

Economic Development projects in the amount of $200,000 are budgeted for FY 2022-2023 for roadway
improvements.

Equipment Replacement Fund

Vehicles, equipment and technology, and facility improvements in FY 2022-2023 are budgeted at
$5,216,325, of which $2,662,245 will be transferred from the General Fund. The remainder is prior year
funding for previously approved capital items that have not yet been received due to supply chain issues.

27