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Capital Improvement Program

The proposed 2015-2019 Capital Improvement Program for the City of Fairfield, submitted in accordance with Article VI, Section 6.02 (A)(6) of the Fairfield City Charter, is shown below.  This program provides City Council with a comprehensive plan of capital improvements that are being considered by the City over the next five years.  Cost estimates, financing methods, and recommended time schedules for the improvements are included in the program and are referenced by individual project.

CIP Details
>CIP Summary by Division
>CIP Summary by Fund

 

2015-2019 CAPITAL IMPROVEMENT PROGRAM

The 2015-2019 Capital Improvement Program continues the City’s strategic approach to capital investment.  Prudent fiscal policy and investment strategy has allowed the City to continue this comprehensive program, making several adjustments in light of the state of the national economy, in order to continue to address the needs of the City.  The budget for 2015 totals $10,841,714.  The five (5) year Capital Improvement Program lists $77,446,612 in projects planned through calendar year 2019 with 68% or $56,629,209 anticipated from City funds and 32% or $24,817,403 anticipated from outside funding, such as grants or debt.

 

Funding for the Capital Improvement Program comes from a variety of sources, including the General Fund, Capital Improvement Fund, Street Improvement Fund, Downtown Development Fund, Water and Sewer Utility Funds, among others and outside funding sources.  A detailed listing of these funds and the sources and uses of the monies contained therein is included in the CIP Cash Flow Statement section. 

 

2015 PROJECTS

The projects contained in the 2015-2019 Capital Improvement Program include periodic equipment replacement and major maintenance-type projects that are incurred by the City on an annual basis, as well as one-time expenditures of funds such as major roadway, utility, parks, public buildings and other infrastructure projects.
 

      Major Projects – In 2015, the largest major projects and their respective costs consist of:

  • State Route 4 at South Gilmore-Holden Intersection Improvements at a total cost of $2.36 million with $2.1 million in outside grant funding.  This project is expected to begin in 2016 and take 2 years to complete.  This project is considered critical as this location is currently ranked as the City’s most dangerous intersection.
     
  • Nilles Road Improvements and Gray Road Improvements at a total cost of $1.79 million with $600,000 in outside grant funding.  This project includes storm sewer and guardrail improvements, shoulder widening and overlay on these two streets.

 

      Recurring Projects – For 2015, the larger annual programmed maintenance projects and respective costs include:  

  • Street Paving & Curb Replacement (Public Works)

$ 400,000

  • Concrete Replacement Project (Public Works)

$ 300,000

  • Citywide Computer Hardware Replacement (Finance)

$   65,000

  • Various Software Maintenance/Enhancement (Finance)

$   50,000

  • Citywide Network Infrastructure Upgrades (Finance)

$   65,000

  • Camera Surveillance System Upgrade (Finance)

$ 145,000

  • Pavement Markings (Public Works)

$ 100,000

  • Replacement of Police Cruisers (Fleet)

$   95,000

  • Sewer Rehabilitation (Public Utilities)

$ 300,000

  • Water Line Improvements (Public Utilities)

$ 200,000

  • Grounds/Median Beautification (Public Works)

$ 170,000

  • Drainage Projects (Public Works)

$ 140,000

 

Future Projects – The 2015-2019 Capital Improvement Program places a strong emphasis on the City's continuing commitment to upgrade and improve its infrastructure while staying within the City’s conservative financial parameters.  In particular, projects such as storm sewer and planned roadway improvements emphasize the importance of addressing infrastructure needs and improvements as a means of continuing to attract quality development while maintaining an excellent quality of life in the community.  Several of these projects are dependent on grants and other forms of outside funding if implementation is to be achieved. 

 

FUND COMMENTARY


General Fund – The City’s General Fund 2015 balance above the reserve requirement was approximately $3.1 million with the City’s main revenue source (income tax) projected to bring in approximately $25.8 million.  Staff will continue to monitor the General Fund Reserve to insure that it remains at a fiduciary responsible level.  Continued vigilance in both operating and capital expenditures remains the overriding goal to ensure that the City continues to spend at sustainable levels.
 

Street Improvement Fund – The Street Improvement Fund began the year with a solid fund balance.  The City has been able to secure outside funding to help offset many of the major construction projects slated for this and future years.  At this time no new debt is projected in this year’s CIP in any of its funds.

 

Capital Improvement Fund – The Capital Improvement Fund began the year with a solid fund balance.  Several equipment purchases and projects will need to be paid for through the fund balance; namely, replacement of police cruisers, an ambulance, and building repairs as a result of the reduction in income tax revenue for this fund, any non-scheduled purchases or projects would further constrain the fund balance.   Continued vigilance in capital expenditures will be needed over this and the next several years to ensure that the City continues to maintain a focus on funding projects at sustainable levels.

 

DEBT SERVICE--UNVOTED DEBT

The City currently has $24.7 million in debt obligations with a very healthy investment grade bond rating of Aa1, which was affirmed on March 3, 2015.  Continued attention will be given to discerning the type of debt and its timing in order to maintain the City’s healthy financial position.  The City’s financial position is largely dependent on maintaining adequate reserves for operations and debt capacity.  Within the 2015 CIP Budget there will be no new debt.  In the 2015-2019 five-year Capital Improvement Plan the City has tentatively projected the need for $7.7 million in projects requiring new notes and/or bonds over the next 5 years.  Staff will continue to monitor the situation, particularly reviewing opportunities that will result through the retirement of old debt.  Council will be advised regarding appropriate recommended actions as these opportunities become available.
 

CONCLUSION

 

In summary, the 2015-2019 Capital Improvement Program represents a pro-active approach to capital investment/reinvestment on the part of the City of Fairfield.  It addresses the major system maintenance and equipment needs of the City.  The CIP provides for improvements that will carry the City through 2015 and beyond.

 

We appreciate the continuing support of the City’s elected officials working with staff in this endeavor.  The Capital Improvement Program exemplifies the strong emphasis that the City has historically placed on providing quality infrastructure as a means of maintaining effective public/private partnerships and service levels within the community.

 

Finance
City of Fairfield
5350 Pleasant Ave.
Fairfield, OH 45014
(513) 867-5315 (phone)
(513) 867-5329 (fax)
finance@fairfield-city.org