City of Rutland, VT Capital Improvement Program

§ 551 Purpose and Establishment.

It is given that capital resources including buildings, roads, water and sewer facilities, and parks represent a significant city investment and that these resources should be managed with long term goals and needs in mind while understanding that financial resources are limited. It is the opinion of this Rutland City Board of Aldermen (BOA) that a Capital Improvement Program (CIP) and policy structure be established pursuant to 24 VSA § 4403 to provide for the fair and efficient use of limited community resources for the City’s capital project needs. Therefore, the following Capital Improvement Budget and Program process is ordained and established by the City.

§ 552 Definitions.

(a)

Capital Budget: A list and description of the capital projects to be undertaken during the coming fiscal year, the estimated cost of those projects, and the proposed method of financing.

(b)

Capital Improvement Program (CIP) Committee: A committee composed of the Mayor, the Executive Direct of the Rutland Redevelopment Authority, and an Alderman appointed by the Board President. The Mayor shall serve as chair.

(c)

Capital Program: A plan of capital projects proposed to be undertaken during each of the following five years, the estimated cost of those projects, and the proposed method of financing.

(d)

Capital Project: any one or more of the following which should have a value in excess of $50,000 and a life expectancy of at least five years:

(1)

Any physical betterment or improvement, including furnishings, machinery, apparatus, or equipment for that physical betterment or improvement when first constructed or acquired.

(2)

Any preliminary studies and surveys relating to any physical betterment or improvement.

(3)

Land or rights in land.

(4)

Any combination of subdivisions (1), (2), and (3).

§ 553 Capital Improvement Program Development.

Beginning August 1, 2013, Department Heads and other city officers shall submit capital project projects to the CIP Committee by August 1^st of each year. The committee shall review the proposals and rank them in accordance with Rating Criteria and Multipliers Scoring Sheet which shall be established and which may be amended by the Board of Aldermen. The committee shall use the numerical ranking results to order priorities in developing the capital program from highest scoring being greater priority to lesser scoring being the lesser, taking in to consideration the City’s ability to pay. Capital projects may be ranked other than by applying the rubric for good cause in the judgment of the CIP committee.

§ 554 Capital Budget and Program Contents.

(a)

The capital budget and program shall be arranged to indicate the order of priority of each capital project and to state for each project all the following:

(1)

A description of the proposed project and the estimated total cost of the project.

(2)

The proposed method of financing, indicating the amount proposed to be financed by direct budgetary appropriation or duly established reserve funds; the amount, if any, estimated to be received from the federal or state governments; the amount, if any, to be financed by impact fees; and the amount to be financed by the issuance of obligations, showing the proposed type or types of obligations, together with the period of probable usefulness for which they are proposed to be issued.

(3)

An estimate of the effect, if any, upon operating costs of the municipality.

§ 555 Capital Improvement Budget and Program Adoption.

By September 15^th, the CIP Committee shall submit its proposed capital budget and program to the City Clerk who shall forward the proposal to the City Planning Commission and the Board of Aldermen. Upon receipt from the City Clerk, the proposal will be automatically referred to the general committee at the board’s next regularly scheduled meeting. The general committee shall hold at least one committee meeting where the public may give input. After committee review, and before adoption by the Board of Aldermen, there shall be a final public hearing to be scheduled before a regular meeting of the Board of Aldermen. The City Planning Commission may submit a report on the proposal to the Board of Aldermen prior to the public hearing. The Board of Alderman may adopt or reject the proposed plan at the regular meeting immediately following the final public hearing in accordance with 24 V.S.A. § 4443.

§ 556 Effect of Adoption or Rejection.

If adopted by the Board of Aldermen, the total of the current fiscal year’s capital budget which relates to the general fund will be placed on the March ballot notwithstanding the normal budget process. Those sums which relate to the Water and Sewer funds shall be used by the board in setting the water and sewer rates. The adopted capital program shall be used by the CIP committee and the administration in amending and constructing subsequent capital budgets and programs.

If rejected by the Board of Aldermen, the Capital Budget and/or Program shall be sent back to the CIP Committee with comments and suggestions for revision. If the Capital Budget is rejected by the voters, the CIP Committee shall make adjustments and resubmit the revised budget and plan following the process outlines in § 555 above. If necessary, a special city meeting may be called for the approval of any amended capital budget.

§ 557 Annual Amendment.

The Capital Improvement Program shall be reviewed, updated, and amended annually, following the process in § 553-555.