04.25.23 Work SessionWelcome to the April 25, 2023,
Prosper Town Council Work Session
Call to Order/Roll Call
Agenda Item 1.
Receive a Legislative update. (RB/JP)
Agenda Item 2.
Receive an update of the Capital Improvement Sub-Committee
meeting.(HW)
Agenda
•Quick Recap November 29, 2022, Capital Improvement Subcommittee meeting
•Discuss additional funding availability for next 5 years
•Overview of projects funded in approved CIP for next 5 years
•Include adjustments to budgets
•Include recommendations on projects to be funded/accelerated
•Overview of remaining GO projects after 5 years
•List of other capital project needs
•Discuss and receive initial feedback
•Schedule follow-up meeting to get direction
Capital Improvements Subcommittee –April 17, 2023
Current
FY 2023 FY 2024 FY 2025 FY 2026 FY 2027
GO Bonds $18,795,000 $12,875,000 $14,625,000 $15,150,000 $15,150,000
CO Bonds $1,063,000 $0 $4,030,000 $0 $5,493,000
Additional
Capacity $13,200,000 $7,700,000 $500,000 $12,000,000 $2,800,000
Capital
Dedicated Fund $380,485 $8,600,000 $9,600,000 $10,600,000 $11,600,000
Budgeted
Savings $1,000,000 $ -$ -$ -$ -
TOTAL $34,438,485
$34.44M
$29,175,000
$29.18M
$28,755,000
$28.76M
$37,750,000
$37.75M
$35,043,000
$35.04M
Finance Department Numbers
Summary of Numbers
FY 2023 FY 2024 FY 2025 FY 2026 FY 2027
DELTA
(AC, CD, and BS)$14,580,485 $12,675,000 $7,625,000 $28,600,000 $24,593,000
Additional Project
Recommendations ($6,000,000)($30,942,500)
+ $8,580,485*($12,840,000)($14,193,000)($9,900,000)
Funds Remaining after
Recommendations
$8,580,485*
(to FY 2024)
($9,687,015)
($9.69M)
($5,215,000)
($5.22M)
$14,407,000
$14.41M
$14,693,000
$14.69M
Cumulative $0 ($9.69M)($14.91M)($0.50M)$14.19M
Note: FY 2028 –Beyond: $26,140,000 Remaining Proposed GO Bond Projects
(reduced from $67,094,500 in current Adopted CIP Summary)
Adjourn