In the coming months we will be charged with making million dollar decisions on capital improvement projects, road improvements, etc. When presented with these options often times we are not presented with the entire picture. For instance we may have estimated figures based on old projections instead of current actual costs. Many times we are left with a sense of uncertainty and feel hesitant to move forward on these decisions based on the lack of information available.

I would like to propose that moving forward, no projects are presented to this counsel for a vote or to the residents for consideration on any kind without the following up to date figures presented along with the project:

1. Current up to date building construction costs

2. Projected maintenance costs of said project based on comparable projects/facilities in neighboring municipalities

3. Replacement costs and or sinking funds necessary as yearly expense to address replacement of fixed assets

4. Expected impact on millage rates

Fiscal Impact: Varies depending on the size of the project

Guiding Principles: 2,3,4,9,13,14

Objectives: 2.4, 5.1, 5.2, 5.3