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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Dave Hancock, Chief Capital Services Officer |
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PRESENTER(S): |
Viola Miller, Chief Financial Officer |
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David Hancock, Chief Capital Services Officer |
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Dan Hofer, Director Capital Assets and Project Controls |
TITLE:
title
2024-2028 Five Year Capital Plan - October 2023 Draft
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 Enterprise.
This proposed 5-Year Capital Plan covers the period from 2024 through 2028.
DISCUSSION:
Staff will present the draft 5-year Capital Plan for 2024 through 2028 for Board information and feedback. Information will include upcoming key dates related to the five-year plan adoption and highlight UTA capital program initiatives.
ALTERNATIVES:
The Board may direct staff to make changes in the proposed plan.
FISCAL IMPACT:
The proposed 2024-2028 Capital Plan provides for $1,271,898,000 of capital projects over the five-year period.
ATTACHMENTS:
• 2024-2028 Five Year Capital Plan - October 2023 Draft