The projects contained in the 2019-2023 Capital Improvement Program include periodic equipment replacement, major maintenance-type projects that are incurred on an annual basis, as well as one-time expenditures of funds such as major roadway, utility, parks, public buildings and other infrastructure projects.
The largest major projects and their respective costs consisted of:
- Portable Radio Replacement: This project is slated to commence in early 2019 and is expected to cost $603,150. It will include the replacement of all portable radios in both Public Safety departments.
- River Road and Gray Road Roundabout: In 2019 the Public Works Department will complete a roundabout at River and Gray Road. This will enhance traffic calming and provide for future pedestrian and bike crossings for the extension of the Great Miami River Trail. Ohio Public Works Commission (OPWC) will fund $400,000 of the construction.
- Distribution System Improvements: During 2019, the Public Utilities Department will replace water mains along portions of Donald Drive, Mack Road and Ross Road, and Seward Road. In total these distribution system improvements will cost approximately $2 million.
For 2019, the larger annual programmed maintenance projects and respective costs include:
|Street Paving and Curb Replacement (Public Works)||
|Sidewalk / Apron Program (Public Works)||
|Citywide Computer Hardware Replacement (City Manager)
|Citywide Network Infrastructure Upgrades (City Manager)||
|Camera Surveillance System Upgrade (City Manager)||
|Pavement Markings (Public Works)||
|Replacement of Camera Truck (Fleet)||
|Replacement of Snow Dump Trucks (Fleet)||
|Replacement of Bucket Truck||
|Small Water Line Improvements (Public Utilities)||
|Water Tank Maintenance (Public Utilities)||
|Dewatering Equipment (Public Utilities)||
|Homeward Way Lift Station Upgrades (Public Utilities)||
The 2019-2023 Capital Improvement Program places a strong emphasis on the City's continuing commitment to upgrade and improve its infrastructure while staying within 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 sustaining an excellent quality of life. Several of these projects are dependent
The City's General Fund 2019 balance is above the reserve requirement. This fund's primary revenue source (income tax) is projected to bring in approximately $24 million. Staff will continue to monitor the General Fund Reserve to ensure that it remains at a fiscally responsible level. Continued vigilance in both operating and capital expenditures remains the primary goal to ensure that the City continues to spend at sustainable levels.
Street Improvement Fund
The Street Improvement Fund began the year with a stable fund balance asthe City replenished the income tax revenue to pre-2013 levels. The City will continue to replenish the fundprovided revenue projections continue to be met. The City has also been able to secure outsidefunding to help offset many of the major construction projects slated forcurrent and future years. No new debt isprojected for projects in this fund.
Capital Improvement Fund
The Capital Improvement Fund began the year with a stable fund balance as the City replenished the income tax revenue to pre-2013 levels. The City will continue to replenish the fund provided revenue projections continue to be met. Several equipment purchases and projects will need to be paid for via the fund balance, namely, replacement of police cruisers and building repairs. As a result of the high project demand, any non-scheduled purchases or projects would further constrain the fund balance. Continued vigilance in capital expenditures will be needed over the current and next several years to ensure that the City to maintains a focus on funding projects at sustainable levels.
Debt Service-Unvoted Debt
The City currently has $17.3 million in debt obligations with a very healthy investment grade bond rating of Aa1. 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. The 2019 Capital Improvement Budget does contain $2 million in additional Enterprise Fund debt. This debt is related to the water main projects on Donald Drive, Mack Road and Ross Road, and Seward Road. Staff will continue to monitor the outstanding debt for public utility operations taking into consideration the anticipated near-term capital needs. Council will be advised regarding appropriate recommended actions as new or refunding opportunities become available.
The2019-2023 Capital Improvement Program represents a proactive approach tocapital investment/reinvestment on the part of the City of Fairfield. The Capital Improvement Program exemplifiesthe strong emphasis that the City has historically placed on providing qualityinfrastructure as a means of sustaining effective public/private partnershipsand service levels within the community. We appreciate the continuing support of the City’s elected officials inthis endeavor.