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Capital Improvement Committee Report page 2 <br /> April 26, 1 995 <br /> Under the status quo scenario we see a rapidly declining debt structure with very <br /> little debt in the 1998-1999 period and no debt at all from the year 2000 forward. As the <br /> Town continues to grow rapidly and operating budgets are continually stressed, there is a <br /> natural tendency to use these reductions in debt service amounts as fuel for operating <br /> budgets.This would reduce funds available for future capital projects and endanger the <br /> Towns ability to meet its growing infrastructure needs. <br /> Through the implementation of the long-range CEP scenario, the Town can track <br /> • �' • retired debt with new <br /> and maintain a relatively constant level of long-term debt by replacing et <br /> ro'ects for which a need has been demonstrated.In this way capital needs may continue to <br /> P J et. <br /> be met in a way which does not negatively impact the overallbudget. <br /> It should be pointed out in analyzing the pian as proposed, the first two years of the <br /> Program are fairly solid in terms of amounts required to meet Town needs. The Committee <br /> stopped short of eliminating projects from the years of the plan after 1997 in order to keep <br /> these projects under review as the plan is updated for future years. However, the <br /> Committee has established a list of priority projects, all of which are capable of being <br /> funded within the normal revenues of the Town. Each year as the plan is updated all <br /> Projects will be reviewed within the context of available funds in order to set final amounts <br /> for the annual capital budget.At that time projects will again be prioritized, with some <br /> projects postponed until such time as they may fit within available funds. <br /> The Committee has worked hard over the previous months to introduce capital <br /> planning lannin to the budget structure of the Town, and looks forward to revising and honing its <br /> efforts to best meet the needs of the Town.Through a consistent approach year after year <br /> we can guarantee the best use of the taxpayers dollar through the maintenance of a sound <br /> and stable program to provide our community with a public infrastructure which will serve <br /> its needs for years to come. <br /> IT <br /> IJ <br /> k ..— - "..... y .. . c� .> ..r Vis'.."" -",._e .... ..`~•'�A w . .. <br /> i; .. - . . ...... .. ... ,. ?.b: .. ,.. 'fes ._ .. _ L.T�."" ..�:. .... ...., .. �l•P - ., .. :i <br />