FY 25 Adopted Budget | Page 195

Capital Improvement Plan

FY 2025-2029 Capital Projects Fund Budget
The FY 2025-2029 Adopted Capital Improvement Plan ( CIP ) includes funding requirements totaling $ 89.5 million . The plan assumes a General Fund contribution of $ 17.3 million . Other funding sources include $ 56.7 million in 2021 Bond proceeds , $ 6.1 million in Locally Administered Projects Program ( LAPP ) Grant funding , $ 4.7 million in grant funding , $ 3.1 million in other financing sources , and $ 1.4 million in Fee in Lieu related to parks .
As part of the FY24 Adopted Budget , Council recommended and approved an additional 1.49 ¢ increase for General Government Capital . Of the total increase , 1 ¢ is dedicated to maintenance and repair of Town Parks and Facilities while the remaining 0.49 ¢ is dedicated for Public Safety Technology . Additional information can be found in the General Government section of the CIP .
Total Expenditures
EXPENDITURES
PRIOR YEAR FUNDING
FY 2025
FY 2026
FY 2027
FY 2028
FY 2029
GRAND TOTAL
Greenways
$ 641,050
$ 6,004,000
-
$ 600,000
$ 1,500,000
-
$ 8,745,050
IT Capital
$ 480,816
$ 928,265
$ 720,678
$ 744,212
$ 968,922
$ 794,869
$ 4,637,762
PFRM
$ 1,383,094
$ 1,774,826
$ 1,770,567
$ 1,818,596
$ 1,869,025
$ 1,921,977
$ 10,538,085
Park Development
$ 7,538,619
$ 22,041,662
-
-
$ 150,000
$ 3,760,131
$ 33,490,412
Park
Rehabilitation
$ 1,530,000
$ 1,420,000
$ 350,000
-
-
-
$ 3,300,000
Stormwater
$ 250,000
$ 300,000
$ 250,000
$ 141,866
-
-
$ 941,866
Streets &
Sidewalks
$ 5,237,401
$ 6,348,462
$ 400,000
$ 15,787,096
-
$ 2,024,898
$ 29,797,857
VERT
$ 1,485,000
$ 2,560,000
$ 2,200,000
$ 2,200,000
$ 2,200,000
$ 2,200,000
$ 12,845,000
Total
$ 18,545,980
$ 41,377,215
$ 5,691,245
$ 21,291,770
$ 6,687,947 $ 10,701,875
$ 104,296,032
Total Revenues
REVENUES
PRIOR YEAR FUNDING
FY 2025
FY 2026
FY 2027
FY 2028
FY 2029
GRAND TOTAL
2021 Bonds
$ 10,237,861
$ 29,305,877
$ 1,000,000
$ 8,848,962
$ 1,650,000
$ 5,785,029
$ 56,827,729
ARP Funds
$ 477,309
-
-
-
-
-
$ 477,309
Earmark Grant
-
$ 500,000
-
-
-
-
$ 500,000
Federal Earmark
Grant
$ 315,000
$ 1,030,405
-
-
-
-
$ 1,345,405
Fee in Lieu
$ 1,366,900
$ 1,220,000
-
-
-
-
$ 2,586,900
General Fund
$ 3,348,910
$ 5,263,091
$ 4,691,245
$ 4,762,808
$ 5,037,947
$ 4,916,846
$ 28,020,847
LAPP Grant
-
$ 2,657,842
-
$ 7,680,000
-
-
$ 10,337,842
PARTF Grant
$ 400,000
-
-
-
-
-
$ 400,000
SCIF Grant
-
$ 1,400,000
-
-
-
-
$ 1,400,000
Wake County
Grant
$ 2,400,000
-
-
-
-
-
$ 2,400,000
Total
$ 18,545,980
$ 41,377,215
$ 5,691,245
$ 21,291,770
$ 6,687,947 $ 10,701,875
$ 104,296,032
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