LONG RANGE CAPITAL REPLACEMENT SCHEDULE ANNUAL CAPITAL EXPENDITURES

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Noel Jackson
8 years ago
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1 7 LONG RANGE CAPITAL REPLACEMENT SCHEDULE ANNUAL CAPITAL EXPENDITURES T he Park District has certain assets that require ongoing and yearly repairs and improvements. These items are essential to the recreational services provided by the District and financial resources should be allocated on an annual basis to ensure those items are properly maintained. They are as follows: DESCRIPTION Playground Replacement (21) ANNUAL CAPITAL EXPENDITURES $150,000 Lighting Repairs (Exterior including athletic & parking lots) $51,000 Fencing Repairs (including athletics) $17,000 Asphalt Repairs (including tennis courts & parking lots) $107,000 Athletic Field Repairs (misc) $40,000 Tree Maintenance (misc) $30,000 Equipment Replacement $135,000 $530,000

2 8 Churchill Park LONG RANGE CAPITAL REPLACEMENT SCHEDULE 2015 PROPOSED CAPITAL BUDGET As part of the planning process for the capital projects in relation to the approval of most recent issues of non-referendum bonds, our capital plan was presented. The 2015 proposed projects (not including annual expenditures such as equipment, asphalt, fencing, etc.) is as follows: DESCRIPTION 2015 CAPITAL BUDGET Forest Preserve Payment $150,000 Native Restoration $20,000 Rebuilding Planting Beds at Softball Hub $15,000 Johnson Center Roof $12,500 Sunset Pool Pump Repairs $10,000 Newton Park Restroom Repairs $13,000 Newton Park Skate Park Renovations $35,000 Newton Park Service Entrance $10,000 TOTAL: $265,500

3 LONG RANGE CAPITAL REPLACEMENT SCHEDULE PROJECTED CAPITAL PROJECTS The District has identified specific projects during that five year period in which existing assets will need to be repaired and/or replaced. The list is as follows: 9 FACILITY DESCRIPTION COST ASFC Washer $8000 ASFC Cardio $50,000 ASFC Spin Bikes $16,000 Johnson Center Tuck Pointing $55,000 Maryknoll Surveillance Equipment $18,000 Maryknoll Shelter Roof $6000 Maryknoll: Holes&Knolls Carpet (for golf courses) $36,000 Main Street Electrical $5000 Main Street Flooring $22,000 Main Street Interior Lighting $60,000 Main Street Roof $145,000 Main Street Elevator $35,800 Spring Avenue Flooring $25,000 Spring Avenue Plumbing $50,000 Spring Avenue Windows $40,000 Spring Avenue Gymnastics Equipment $9000 Spring Avenue Carpeting $20,000 Spring Avenue Gymnastics Spring Board Flooring $13,000 Churchill Park Interpretive/Entrance Signage $10,000 Ackerman Park Remove Outer Softball Fields $38,000 Ackerman Concession Roofs (2) $7000 Sunset Pool: Lap Pool Lap Pool Controllers $8000 Sunset Pool Pump Pit $30,000 Sunset Pool Vent Exhaust $2500 Sunset Pool: Leisure Pool Structure $14,000 Sunset Pool: Lap Pool Strainer Pump $10,000 Lake Ellyn Sediment Removal $25,000 Lake Ellyn Hydrology $50,000 SUMMARY TOTAL: $808,300 PER YEAR: $161,660

4 10 LONG RANGE CAPITAL REPLACEMENT SCHEDULE PROJECTED CAPITAL PROJECTS The District has identified specific projects during that five year period in which existing assets will need to be repaired and/or replaced. The list of items is as follows: FACILITY DESCRIPTION COST Lake Ellyn Boathouse Roof $24,000 Lake Ellyn Boathouse HVAC $12,500 Sunset Pool Water Slides $280,000 Sunset Pool Lap Pool Filters $65,000 Sunset Pool Leisure Pool Filters $110,000 Sunset Pool Leisure Pool Heater $40,000 Sunset Pool Lap Pool Heater $20,000 Sunset Pool Cast Iron Valves $10,500 Skate Park Complete Reconstruction $125,000 ASFC Floor Scrubber $12,000 ASFC Fitness Flooring $60,000 ASFC Turf $117,000 ASFC Sound Equipment $16,000 ASFC Fitness Equipment $40,000 ASFC TV s $8,000 ASFC Fitness Strength $50,000 Main Street HVAC $75,000 Spring Avenue Roof $80,000 Spring Avenue Lighting $20,000 Maryknoll Clubhouse Roof $9,000 Lake Foxcroft Park $4200 Babcock House Roof $4000 Johnson Center HVAC/outback $4200 SUMMARY TOTAL: $1,193,000 PER YEAR: $238,600

5 11 Lake Ellyn Boathouse LONG RANGE CAPITAL REPLACEMENT SCHEDULE CAPITAL PROJECT EXPENDITURES SUMMARY DESCRIPTION Annual Capital Expenditures COST $530,000 (yr. avg.) 2015 Budgeted Capital Projects $265,500 + annual Projected Capital Expenditures $161,660 (yr. avg.) Projected Capital Expenditures $238,600 (yr. avg.) Total Annual Capital Expenditures: Total Annual Capital Expenditures: $691,660 avg. per yr. $768,600 avg. per yr.

6 Long-Term Financial Overview May 30, 2014

7 Sources and Uses of Funds Usage Fees Operating Levies Operations Maintain & Utilize GEPD Assets Special Recreation Levy New Debt Issues Operating Surplus Capital Projects Replace & Improve GEPD Assets Capital Reserves Financial Levers 11

8 Capital Funding Sources Capital Expenditure Perspective 12

9 Categories of Future Capital Expenditures Replacement Expenditures- Ongoing High count and medium life (3 10 years) Playgrounds, paving, vehicles, etc. Replacement frequency warrants an ongoing program Ongoing programs establish annual allocations for capital planning Replacement expenditures will grow with inflation Current staff estimate: $530,000 per year Replacement Expenditures- When needed Few elements and/or long life (10+ years) Pool deck, Roof, HVAC, etc. Requirements driven by element cost and remaining service life Replacement expenditures will grow with inflation Current staff estimate: $275,000 per year Improvement Expenditures Adds new facilities or capabilities to existing facilities Capital Expenditure Perspective 13

10 Long-Term Capital Challenge- Match Sources to Expenditures Operating surplus is an important source of capital funding, but may not be adequate to support future improvement expenditures Operating Perspective 14

11 Long-Term Capital Challenge- Match Sources to Expenditures Under existing debt authorities future operating surplus should be sufficient to fund an ongoing stream of capital improvements Operating Perspective 15

12 Operating Surplus Can Fund Capital Improvement Expenditures Planning targets established for future operating surplus will determine the magnitude of an ongoing stream of capital improvements that can be supported Capital Expenditure Perspective 16

13 Improvements Today = Replacements Tomorrow and Authorizing a capital improvement effectively commits future replacement expenditures Improvements enlarge allocations required for ongoing replacement programs More parking means more sealcoating and repaving Improvements require that more future funding capacity be secured for replacements Another HVAC unit means a more expensive replacement in 15+ years Capital Improvement Capital Replacements Example: Newton Turf Capital Improvement $1.0m ~$0.6m ~$0.7m ~$0.9m Capital Expenditure Perspective 17

14 Under Existing Authorities the Overall Tax Load Will Decrease Paying off old debt provides an opportunity to proactively manage the total tax load going forward Tax Levy Perspective 18

November 3, 2015 Bond and District Additional Assistance Election Information

November 3, 2015 Bond and District Additional Assistance Election Information Proposition 432 - $22 million General Obligation Bond 150+ facility projects across all schools Building renovations and improvements