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cost local governments and their residents. This is even more reason for being strategic <br />in decisions about timing and affordability -when to undertake projects, when those <br />projects actually come on-line and what the financial and tax rate impact will be. The <br />layout of the CIP is designed to offer a comprehensive picture of the impact of each <br />individual project, and to serve as a planning and informational tool that will assist the <br />Board in making informed future decisions. <br />..~ Reserve Funds -The plan allocates a portion of projected available pay-as-you-go <br />funding to specific County projects that have clearly defined plans, and it reserves some <br />pay-as-you-go monies for those County projects that are not as clearly defined at this <br />time. For example, the plan sets aside reserve monies. for the anticipated <br />implementation of the Library Services Task Force Report since it is likely that the Report <br />will include recommendations for capital facilities; however, the Board has not yet <br />received the report and therefore not had an opportunity to take action on it. Reserving <br />the funds demonstrates the Board's commitment to the need for future Library services <br />and it also allows Commissioners time to consider the full impact of ,the Report with the <br />assurance that funding is in place to implement the outcome of their decisions. <br />"Living Plans" -All of these reasons reinforce the need for having comprehensive multi- <br />year planning tools such as long-range capital plans and financial forecasts in place. <br />However, it is also important to remember that long-range financial plans, including the <br />CIP, are "living plans". This means that each year, staff and the Board can reassess <br />previously identified needs to determine if future needs remain the same as those <br />outlined in past approved plans, or if needs and priorities have changed, the appropriate <br />revisions to previously adopted/approved plans can be made. <br />Next Steps <br />-~k November 15, 2007 -Public Hearing to receive comments regarding the 2008-18 <br />Recommended CIP and Commissioners provide further direction to staff regarding the <br />final 2008-18 CIP. <br />~:~ Late November 2007 -Staff incorporates direction provided by the Board during <br />tonight's work session as well as Board direction that may follow the, public hearing <br />scheduled for November 15, 2007 into~the 2008-18 CIP. <br />December 3, 2007 Regular Meeting -Board of County Commissioners recognizes <br />School and County capital needs by adapting the proposed ten-year plan at its <br />December 3 regular meeting. <br />~k January 2008 Work Session -Board and staff discuss future CIP related revenue and <br />policy considerations including future use of Local Revenue Options and unfunded <br />County and school projects. <br />March 18, 2008 Regular Meeting - In accordance with August 30, 2007 Board <br />approved timeline, Commissioners adopt Schools and County 2008-09 Capital Budget <br />and corresponding capital project ordinances that authorize capital expenditures for the <br />upcoming fiscal year. <br />o Capital Budget -the first year of the multi-year Capital Investment Plan <br />-ak October 14, 2008 -Staff presents updated 2009-19 Capital Investment Plan <br />