|
TO: |
Board of Trustees |
|
THROUGH: |
Jay Fox, Executive Director |
|
FROM: |
Mary DeLoretto, Chief Capital Services Officer |
|
PRESENTER(S): |
Viola Miller, Chief Financial Officer |
|
|
David Hancock, Director Capital Development |
|
|
Dan Hofer, Director Capital Assets and Project Controls |
TITLE:
title
2024-2028 Five Year Capital Plan Overview
end
AGENDA ITEM TYPE:
Discussion
RECOMMENDATION:
Informational item for discussion
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.
This proposed 5-Year Capital Plan covers the period from 2024 through 2028.
DISCUSSION:
Staff will present an overview of the 5-year Capital Plan for 2024 through 2028 for Board information and discussion. Information will include upcoming key dates related to the five-year plan adoption, changes to plan format, and highlights of UTA capital program initiatives.
ALTERNATIVES:
N/A
FISCAL IMPACT:
N/A
ATTACHMENTS:
• None