Page 105 - FY 2023-24 ADOPTED BUDGET

APPROVED CAPITAL EXPENDITURES

GENERAL FUND

PUBLIC SAFETY

Four Police Patrol Vehicles $ 199,840

TOTAL $ 199,840

FUTURE CAPITAL AND DEBT

In fiscal year 2019-20 City Council approved moving forward with the design of a new municipal complex that would
be an anchor to a new downtown. The municipal complex would house City Hall, Police Department and the Senior
Center and be located next to the current City Hall. The estimated cost is $22.0 million. The voters approved the
bond at the May 21, 2021 election and the debt was issued. Construction and debt payments began in fiscal year
2021-22. The TIF expired in November 2022 and the City no longer has to contribute to the TIF. The funds that
were paid to the TIF annually will now be used for debt service payments for the new municipal complex. There is
little impact to the City’s operating funds.

Other future capital projects and capital outlays are paid for out of the Capital Projects and Asset Replacement
funds. Purchases are on a “Pay-As-You-Go” basis, where the City saves each year for these planned capital projects
and outlays. Various drainage projects are planned over the nest few years all being paid for out of the Stormwater
and Drainage fund. The following capital asset purchases are planned over the next few years:

FY 2023-24 Ambulance

FY 2024-25 Ambulance

FY 2025-26 Dump Truck

Sufficient funds are available in the Asset Replacement fund to purchase these vehicles.

One major project that was completed in FY 2020-21 was the construction of the Clearfork Emergency Access
Bridge. This project was fully funded as a “Pay-As-You-Go” project out of the Capital Projects Fund.

The Asset Replacement fund and Capital Projects fund are both “Pay-As-You-Go” funds and budgeted on a project
basis and not by fiscal year.
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