2018-2022 Financial Plan

CAPITAL WORKS BUSINESS PLAN

Services Provided The Capital Planning Committee compiles and prepares the Capital Works Program (CWP), coordinates project information for the long-term CWP (15 - 20 years) with priority given to the upcoming five-year timeframe (2018–2022) and is responsible for deployment of information relating to the CWP on the website. The Committee also provides staff support with respect to capital information inquiries and/or requests, maintains the integrity of the data in the corporate business system for long-term capital programming and creating an archive of completed and planned projects and has the responsibility of administrating the CWP and associated business systems.

2018 Workplan Emphasis The Committee will ensure that Maple Ridge has a well-conceived financial strategy for infrastructure and facilities sustainability as a long term objective by updating the infrastructure deficit funding projections annually, developing a financial model for illustrative purposes only, projecting the necessary property tax rate increases to fund the infrastructure deficit in 10, 15 and 25 years, appealing to senior levels of government for ongoing secure funding for infrastructure replacement or access to alternative revenue streams (not property taxes) and continuing to explore funding alternatives (Gravel, Gaming, Grants and Growth).

Operating Budget Implications of the Capital Program and Developer Contributed Assets Many of the incremental operating costs associated with the capital program are identified in the Financial Plan Overview under Budget Allocations for Growth on page 41. There are other costs associated with assets that are contributed by developers. Where new local roads and services are contributed to Maple Ridge by developers there may not be much in the way of repair costs until later in the lifecycle of the asset. The annual amount set aside for replacement of our assets is much less than the amount for amortization, which is based on historical cost not replacement cost. The funding strategy, to bridge this infrastructure replacement funding gap over time, is to increase property taxes each year. There is no link between the new assets added each year to an increase in the amount of funding set aside to cover the amortization expense on these assets. The Operations Centre, Parks & Facilities, Water and Sewer Utilities receive growth funding associated with having additional infrastructure built or turned over to Maple Ridge from developers. The amount of infrastructure built or turned over will vary year to year . Performance Measures/Indicators The City tracks our performance in a number of ways. Some of the measures are tracked using Performance Reporting Scorecards which appear in the City's performance system. The scorecards for this area are listed below. Full scorecards can be found in Appendix A.

To access the “live” scorecard, visit mapleridge.ca/787 and use the Scorecard Lookup tool.

Code

Scorecard (on following pages)

Why this Scorecard is important to this Department: Compares capital program budgets against actual expenditure, which gives an indication how accurate budgets are. Accuracy in budgeting helps to effectively allocate resources.

FM03

Capital Works Program

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