FY2020 Budget

TOWN OF MORRISVILLE * 100 TOWN HALL DRIVE * MORRISVILLE, NC 27560

RESOLUTION 2019-100-D THE MORRISVILLE TOWN COUNCIL OUTLINING CAPITAL INVESTMENT PROGRAM (CIP) PRIORITIES WHEREAS, a Capital Investment Program’s (CIP) main purpose is to establish sound long-range investment expectations and provide direction for staff in the creation of viable projects and to prepare usable funding plans that deliver tangible results to the community; and

WHEREAS, such large financial investments are necessary to maintain and improve public facilities and public infrastructure to assure ongoing quality in service delivery; and

WHEREAS, a CIP provides a framework for planning to meet the future needs and priorities for identified large, multi-year projects through proposed timing and anticipated funding recommendations; and

WHEREAS , large, multi-year projects often require initial appropriations of funds to support design and evaluation of projects to further assess project development factors, cost and timeline; and

WHEREAS, the first year of the CIP is a funding year for projects planned for evaluation during the current fiscal year or ongoing projects approved in previous fiscal years and is reflected in the appropriation of funds to the CIP through the annual capital budget ordinance; and

WHEREAS, the four subsequent planning years in the CIP serve as a plan to guide workplans and prepare for timely and coordinated project management and community asset delivery; and

WHEREAS, Town Council periodically reviews and updates the projects and priorities to ensure identified projects align with strategic and master plans, operational goals and objectives, future and long-term needs, and that align with community expectations and desired town amenities; and

WHEREAS, the 2020-2024 CIP has been presented in conjunction with the proposed fiscal year 2020 operating budget; and

WHEREAS, fiscal year 2020 of the CIP proposes $5,275,000 of funding for the initiation of identified bicycle/pedestrian, parks and recreation, public safety and NC54 corridor congestion mitigation projects included in the annual capital budget ordinance; and

WHEREAS, Town Council desires to clarify proposed funding prioirities for fiscal year 2020 and identify additional priorities for future incorporation into a CIP.

NOW, THEREFORE, BE IT RESOLVED THAT THE MORRISVILLE TOWN COUNCIL hereby incorporates into the adoption of the Capital Investment Program policy guidance in support of Capital Budget Ordinance 2019-100-B:

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