The CIP Division works with all Town Departments to facilitate and administer coordinated design and construction of their CIP budgeted projects and equipment purchases. This ensures consistency across all Town departments, and adherence to laws, masterplans, schedules, and budgets.
Contracts, scope, budgets, and schedules are monitored for each project.
The CIP Division also coordinates assembly of the 5 year projection for CIPs each Fiscal Year.
Annual Budget for Capital Outlay
In 2007, there was over $53 million of Capital Outlay; about half of the Town's annual budget.
In 2011, there was less than $8 million of Capital Outlay; only about 13% of the Town's annual budget.
For Fiscal Year 2015/2016, the total proposed Capital Outlay (for both projects and equipment) is $17.4 million, or about 1/4th of the Town's total budget, across all departments and funding sources.
Capital Outlay Breakdown by Town Department
Here is a Breakdown of Capital Outlay by Department in FY 2015/2016:
Public Works Department (Streets & Facilities) has $9 million for 12 projects, and 11 equipment purchases
Utilities Department (Water & Sewer) has $4 million for 23 projects, and 10 equipment purchases
Parks & Recreation Department has $1.1 million for 4 projects, and 10 equipment purchases
Community Development Department has $1.5 million for 1 equipment purchase, and 1 regional website grant project
Police Department has $1 million for 1 building renovation project, and over a dozen equipment purchases
Funding Sources for Capital Outlay
Capital Outlay is provided from the five major funds of the Prescott Valley Town Budget for Fiscal Year 2015/2016, as follows:
7% from the General Fund
23% from the Enterprise Fund
30% from the Capital Improvement Fund
0% from the Debt Service Fund
40% from the Special Revenue Fund
The Special Revenue Fund is further broken into smaller funds, as follows: