Summary
To: Finance Board
From: Stefan Massol, Director of Support Services
Date: 11/16/2017
______________________________________________________________________
Subject:
Title
Review of parks funding
Summary:
Staff will provide information regarding the budgeted expenditures and funding sources for park improvements.
End
Body
Previous Commission Action: The Town Commission approved the Capital Improvement Plan as part of the annual budget.
Background/Problem Discussion: Enclosed you will find a copy of the approved CIP for FY 2017-18. Included in the CIP is a total of $75,000 of funding specifically for parks and park improvements. This amount is expected to increase to $125,000 for FY 2018-19 and then decrease to a recurring level of $25,000.
Expenditure Challenges N/A
Financial Implications: Park improvements are funded through a combination of charitable donations, cooperative maintenance contributions of $1700 annually, and general Capital Projects Fund revenues.
Recommendation: This item is for discussion purposes only.
Proposed Motion N/A