Fiscal Year 2019 Budget

167

Fiscal Year 2018/2019 Operating Budget

Capital Projects

EXPENDITURES AS % OF TOTAL BUDGET BY FUNCTION

Departments:

The main departments under Capital Projects consist of the following:

* Capital Improvement Reserve * Capital Projects * Enterprise Capital Projects

Capital Projects 33%

Capital Project Funds are established to account for resources used in the acquisition or construction of major capital facilities and capital assets. Project resources may include a combination of several sources such as bond proceeds, inter-fund transfers, intergovernmental revenues, grants, etc. These funds provide the means for management to ensure that designated revenues are appropriately utilized. Capital Improvement Reserve (053) accounts for Local Option Sales Tax receipts designated for Capital Projects that have not been allocated for department use. These funds are utilized for last minute projects or as a project advance to cover expenditures that will later be specially assed to residents. Capital Projects (300) accounts for various infrastructure projects in the City that are associated with General Fund departments. Enterprise Capital Projects (600) accounts for various infrastructure projects in the City that are associated with Proprietary departments. Budget detail regarding the Capital Projects and Enterprise Capital Projects Funds are includedin this document. Detailed, individual project sheets are found in the City's Capital Improvement Plan. These sheets provide a summary of each project, including a description of the project, the location, justification for the project as well as sources and uses of funds. The City's Capital Improvement Plan can be found on the City's website at www.spenceriowacity.com/finance.php.