City of La Porte Budget 1982-1983

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I I I I I I I I I I I I I I I I I I I INTRODUCTION In the following pages, yoliwill find a beginning towards the development of a Capital Improvement. Program for tbe City of La Porte. There are many advantages in implementing a Capital Improvement Program which, when properly dev'eloped, will compliment the. City's yearly Capital Improvement Budget while focusing in on the needs and priorities of the community. Capital improvement programming .and. budgeting involves the development of a long term plan. for capital .expenditures of a municipality. A Capital Improvement Program is a guide to the provisions of major public facilities by balancing revenues, expenditures. and the sequence. of acquisition. Capital Budgeting is based on distinctions between expenditures that have only short- run benefits' (capital). As a classifiCation device, a capital budget provides some limited information about governmental assets. As a process, capital budgeting focuses attention upon long term planning and the developmental nature of some governmental spending. A Capital Program is generally considered in five year increments which makes it more detailed and exact than the long-term financial plan. This time period is considered sufficient to allow for the planning and construction of more projects. The first year of the five year program is the Capital Budget of the annual city budget and the legislative authorization for annual capital appropriations. Some of the benefits derived over a course of time from Capital Improvement implemen ta tion are: (a) Attention can be focused upon the needs and priorities of the community. (b) The best use of the taxpayer's dollar will be achieved. (c) The public will be informed of projects at the earliest possible date. (d) A sound and stable financial program will help preserve the credit rating 'of a local government. (e) More efficient government administration can result. (f) Careful planning and programming. (g) All methods of financing are examined. Our goal is to begin implementation of a Capital Improvement Program in this fiscal year and develop it slowly and properly. It is our desire that the City of La Porte will have a five year Capital Improvement Program underway this same time next year. *It should be noted that the majority of the capital improvement projects listed are "carry overs" from past years. The proposed new projects amount to approxi- mately $797,848.00 and when combined with "carryover" projects, amount to approximately $2,325,425.00. The proposed capital improvement program is an ambitious one. and, in all probability. not all the projects can be completed during the 82-83 fiscal year. We propose that the priorities set by the Council be used by the staff. and that the uricompleted projects be used as a nucleus in formulating a five year improvement program. 2