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Introduction and discussion of the 5-year capital plan and 2027 capital budget for the City of Wauwatosa
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Submitted by:
Capital Budget Team
Department:
Administration, Finance and Public Works
A. Issue
Reviewing and approving a 5-year capital plan and 2027 capital budget for the City of Wauwatosa
B. Background/Options
The City of Wauwatosa maintains a five-year capital plan with each year balanced between revenues and expenditures. The five-year plan is guided by pavement ratings, water main break rates, sewer capacities, flooding analysis, asset life-cycles, non-local funding opportunities as well as the Financial Resiliency Policy and the 10-year utility rate forecasts. The Common Council will ultimately adopt the five-year plan but only commit expenditure and revenue authority for 2027. The 2027-2031 Capital Plan is attached for the Committee’s consideration.
C. Strategic Plan (Area of Focus)
Priority Area Three: Infrastructure
D. Fiscal Impact
Adopting this plan will result in an approximate 0.5% annual increase in the property tax levy depending on interest rates and not including the impact of the City Hall/ Library rebuilding. It also assumes forecasted rate increases in the Water, Storm and Sanitary utilities as have previously been presented. The 2027 levy increase has already been included in the 2027 operating budget as a transfer to the Debt Service Fund
E. Recommendation
We recommend approval of the 2027-2031 Capital Plan and 2027 Capital Budget.