FY2018 Recommended Budget

Capital Projects, Capital Reserves and Fund Balance Appropriations:

Town Manager Requests

Town Center Infrastructure: Design and construction of infrastructure necessary to support the initial Town Center investment and siting of the Wake County Library. The funding request includes the roundabout and related road improvements as well as a regional stormwater facility. Design and permitting are underway. Plans and permits are anticipated in the summer of 2017. Bidding on the project is projected in late summer/early fall, with construction to start immediately after. This infrastructure must be in place prior to the start of library construction by Wake County, slated to begin in early 2018. Church Street Park Field Lights: The Town has a 65% cost share for the Church Street Park Cricket Field Lights project. Total project cost estimate of $757,000, offset by a grant of $279,000 from Wake County. This project is in design for Fiscal Year 2018 bid, award, and installation. Sidewalk/Pedestrian Projects: Transfer of prior year budget allocations not spent to a Capital Project Fund. Town Council directed that these appropriations be held to offset unanticipated project cost overages for four existing sidewalk projects currently underway. Once those projects are complete, these funds will be available to support the design of projects identified through the sidewalk prioritization program. The transfer includes $78,000 in prior year appropriations for the McCrimmon Parkway/Davis Drive pedestrian safety project. Establishment of this Capital Project Fund avoids ongoing operation budget carryovers and maintains the funds for their intended purpose. Roadway & Transportation Capital Reserve : Allocation and transfer to Capital Reserve Fund equivalent to one cent ($0.01) of the tax rate for future roadway and transportation projects identified by Town Council.

2,000,000 -2,000,000 Offset by Fund Balance

480,000 -480,000 Offset by Fund Balance

278,000 -278,000 Offset by Fund Balance

460,000

Fire Apparatus Capital Reserve Fund: Allocation and transfer to Capital Reserve an amount reserved to prepare for future apparatus.

400,000

CIP Capital Reserve Fund: Allocation and transfer to Capital Reserve an amount reserved to prepare for future CIP Projects.

200,000

Stormwater Fund Subsidy: Town allocation of funds to support the Stormwater Fund and maintain the current $25 Equivalent Residential Unit (ERU) fee.

126,000

Municipal Service District: Town allocation of funds to support the completion of Municipal Service District Projects.

110,000

Sidewalk Program: Town allocation of funds to support the Sidewalk Improvement Program.

100,000

Airport Blvd Bike/Pedestrian Project: Town cost share of the Airport Boulevard Bike/Pedestrian Project being constructed by NCDOT as a part of that roadway’s improvements.

65,000 -65,000 Offset by Fund Balance

TOTAL

1,396,000

Net Appropriation Requests

$5,890,700

Summary

Budgetary Priorities Total

10,107,900

Less Offsetting Revenue

13,200

Less Capital Reserve Transfer

1,171,000

Less Fund Balance Appropriations

3,033,000

Net

$ 5,890,700

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