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File #: 14-3545    Name: Consideration of a Resolution to Amend FY 2016 City Council Budget Guidance Related to Cash Capital
Type: Resolution Status: Agenda Ready
File created: 12/18/2014 In control: City Council Legislative Meeting
On agenda: 1/13/2015 Final action:
Title: Consideration of a Resolution to Amend FY 2016 City Council Budget Guidance Related to Cash Capital. [ROLL-CALL VOTE]
Attachments: 1. 14-3545_Resolution to Amend FY 2016 Budget Guidance, 2. 14-3545_Cash Capital and General Fund Expenditures, 3. 14-3545_Arlington County Cash Capital Information, 4. 14-3545_Presentation to City Council Cash Capital, 5. 14-3545_After Items
City of Alexandria, Virginia
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MEMORANDUM


DATE: JANUARY 7, 2015

TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL

FROM: MARK B. JINKS, ACTING CITY MANAGER /s/

DOCKET TITLE:
TITLE
Consideration of a Resolution to Amend FY 2016 City Council Budget Guidance Related to Cash Capital. [ROLL-CALL VOTE]
BODY
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ISSUE: Requesting City Council consideration of amending resolution #2653 establishing the FY 2016 Budget Guidance for the operating and capital budgets, and the 10-year Capital Improvement Program (CIP).

RECOMMENDATION: That City Council adopt a superseding cash capital commitment policy (based on Resolution #2653) which establishes a General Fund cash capital transfer policy to the CIP in FY 2016 - FY 2025 based on the following: a General Fund cash capital transfer minimum of two percent (2%); and a General Fund cash capital transfer target of two and a half percent (2.5%).

DISCUSSION: On December 9, 2014 City staff presented to City Council an alternative to the cash capital commitment policy adopted as part of FY 2016 City Council Budget Guidance (Resolution #2653). During that presentation, City staff outlined an option that capped General Fund support to the CIP through the General Fund Cash Capital transfer and debt service payments at no more than 12% of total General Fund expenditures in each year of the ten-year CIP. City Council did not approve the 12% cap; however, they provided the opportunity for City staff to present an alternative policy to specifically address the desire to have a "floor" or minimum annual contribution for the cash capital transfer portion of the General Fund support to the CIP.

As part of last year's Approved CIP, a General Fund cash capital transfer of $22.8 million was planned in FY 2016 to support the CIP. This represents a $4.8 million increase over the FY 2015 General Fund cash capital transfer of $18.1 ...

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