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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Mary DeLoretto, Chief Service Development Officer |
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PRESENTER(S): |
Bill Greene, Chief Financial Officer |
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David Hancock, Director Capital Development |
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Dan Hofer, Director Capital Assets and Project Controls |
TITLE:
title
2023-2027 Five Year Capital Plan
end
AGENDA ITEM TYPE:
Discussion
RECOMMENDATION:
Advance presentation to the Local Advisory Council for their approval and recommendation to the Board.
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 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 Enterprise.
This proposed 5-Year Capital Plan covers the period from 2023 through 2027.
DISCUSSION:
Staff will present the final 5-year Capital Plan for 2023 through 2027 for board review and feedback. With the board’s concurrence, a presentation will be given to the Local Advisory Council for their consideration and recommendation to the Board to adopt as the Agency’s 2023-2027 Five-Year Plan.
ALTERNATIVES:
The Board of Trustees could recommend changes to the plan.
FISCAL IMPACT:
The Five-Year plan details capital investments to keep the system in a state of good repair and funds improvements to support ongoing system operations. The first year of the plan (2023) is included in the 2023 Tentative Budget which the Board will consider for adoption on October 26, 2022.
ATTACHMENTS:
• Draft 2023-2027 Five Year Capital Plan