TO:
Local Advisory Council
THROUGH:
Jay Fox, Executive Director
FROM:
Mary DeLoretto, Chief Service Development Officer
PRESENTER(S):
Bill Greene, Chief Financial Officer
Dan Hofer, Director of Capital Assets and Project Controls
TITLE:
title
Five-Year Capital Plan Update
end
AGENDA ITEM TYPE:
Discussion
RECOMMENDATION:
Informational report 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 enterprise.
DISCUSSION:
Staff will update the Advisory Council on the development of the Five-Year Capital Plan and the schedule for approval and recommendation by the Council and final adoption by the Board of Trustees. The new Five-Year Capital Plan will cover the period from 2023 through 2027.
ALTERNATIVES:
N/A
FISCAL IMPACT:
ATTACHMENTS:
None