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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
David Hancock, Chief Capital Services Officer |
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PRESENTER(S): |
David Hancock, Chief Capital Services Officer |
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Daniel Hofer, Director - Capital Programming and Support |
TITLE:
title
Proposed Final 2025-2029 Five Year Capital Plan
end
AGENDA ITEM TYPE:
Discussion
RECOMMENDATION:
For information and opportunity to provide feedback
BACKGROUND:
UTA’s 5-year Capital Plan is required to be updated every year, per the UTA Board of Trustees Policy 2.1 Financial Management. The 5-year Capital Plan includes all construction, capital improvements, major equipment purchases, and other special projects requiring expenditures over $25,000. This includes projects that are funded partially or fully by outside funding sources, such as grants or local partners.
The plan is required to be financially constrained and maintain assets at a state of good repair, to protect UTA’s capital investments, and minimize future maintenance and replacement costs. Five-year forecasts help mitigate the challenges of applying a one-year budget to multi-year projects and support long-range financial planning and prudent management of the Agency.
Utah’s Public Transit District Act and Board Policy 2.1 require the 5-Year Capital Plan to be approved by the Local Advisory Council prior to being presented to the Board for adoption.
This proposed 5-Year Capital Plan covers the period from 2025 through 2029.
DISCUSSION:
Staff will present the 5-year Capital Plan for 2025 through 2029 for Board review and discussion. Information will include upcoming key dates related to the five-year plan adoption and highlight UTA capital program initiatives.
This discussion will be a continuation of the discussion that was held during the Board Budget Workshops earlier in the month of August. UTA staff will highlight any changes that have occurred between the Board Workshop and this presentation.
ALTERNATIVES:
The Board of Trustees can provide feedback for UTA staff to incorporate into the plan document. The following are risks that could materialize as a result of a delay:
• Could impact the proposed UTA 2025 Tentative Budget scheduled for adoption on September 25th
FISCAL IMPACT:
The Five-Year Capital Plan sets a financial strategy for the coming 2025-2029 period about how UTA will spend its capital funds. The overall plan amount is $1,199,568,000. This is made up of a combination of external funding sources such as federal or state partners, local entity partners, financing, or UTA funds. This plan contains $303,664,000 in UTA funds.
ATTACHMENTS:
• Proposed Final 2025-2029 Five Year Capital Plan