City of Blaine Anoka County, Minnesota - File #: WS 14-54

• File #: WS 14-54
• Version: 1
• Name: 2015 Proposed Capital Equipment Budget
• Type: Workshop Item
• Status: Filed
• File created: 10/9/2014
• In control: City Council Workshop
• On agenda: 10/9/2014
• Final action: 10/9/2014
• Title: 2015 PROPOSED CAPITAL EQUIPMENT FUND BUDGET
• Sponsors: Joe Huss

Date	Ver.	Action By	Action	Result
12/26/2014	1	City Council Workshop	Discussed
10/9/2014	1	City Council Workshop	Discussed

 Joe Huss, Finance Director

Title

2015 PROPOSED CAPITAL EQUIPMENT FUND BUDGET

Background

At the September 11 Workshop, staff reviewed with Council initial requests for inclusion in the 2015 Capital Fund Budget totaling $2.4 million.  Per Council direction, revisions have been made and the proposed 2015 Capital Budget now totals $1.59 million.  As a comparison, the 2014 Adopted Capital Fund Budget was $1.22 million.  Attached is the current listing of 2015 capital requests for Council review.

To fund the 2015 capital purchases, staff will be requesting authorization to seek bids from local banks for a Certificate of Indebtedness.  Council had approved the use of a Certificate of Indebtedness for 2014 capital purchases.  Incorporating 2015 purchases into the certificate issued in 2014 would save on issuance costs and would ensure that the certificate is issued as "Bank Qualified", thus allowing local banks the opportunity to bid on the certificate.

Included in the attachments, and submitted for Council discussion is a 5-year capital projection.

Recommendation

Council review attached requests and provide direction for adoption of the 2015 Capital Fund Budget in November.