picture of town fountain

Capital Improvements

NEWS
EVENTS
MEETINGS
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Mosquito fogging - July 4 Holiday Weekend. 

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The Arbor - July 2022.

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Restored UPFD 1925 American LaFrance pumper part of Park Cities July 4 parade.    

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Melissa Rieman selected University Park’s 2022 Citizen of the Year.  

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COVID-19 Updates and Information.

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Bank Robbery – Prosperity Bank in Snider Plaza.

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Saturday, July 2 at 10 a.m. - STEAM Station @ the Library.

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Park Cities 4th of July Parade and Goar Park activities.

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Thursday, July 7 at 3:30 p.m. - STEAM Station @ the Library.

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Friday, July 8 at 8 p.m. - Dive-in Movie at the Holmes Aquatic Center.

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Saturday, July 9 at 10 a.m. - STEAM Station @ the Library.

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Tuesday, July 12 at 10:30 a.m. - All Ages Story Time @ UPPL.

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Tuesday, July 5, 2022 - City Council Meeting

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Tuesday, July 19, 2022 - City Council Meeting

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DEFINITION

In addition to the annual operating expenditures identified in the budget, the City of University Park also plans, funds, and implements a wide range of capital projects each year.  Most of these projects are infrastructure-related, such as replacement of underground water and sewer lines, or reconstruction of streets.  To be classified as a capital project, the expenditure must be at least $50,000, and non-recurring in nature.  Most capital projects are large-scale and require multiple years to implement.


FUNDING

The City of University Park uses a “pay as you go” approach to fund its capital projects. This means that projects are funded using monies from current sources, rather than through the issuance of debt.  In 1993, the City refinanced its outstanding debt and structured the annual debt service payments so that they would decrease each year.  As the amount of debt service stepped down each year, the City budgeted the amount of the decrease into the operating budget, so the total amount collected remained level.  In this manner the City was able to begin collecting an increasing amount each year for use in funding capital projects.
 

At the beginning of FY1994, the City established a separate Capital Projects Fund to receive project funding and make project expenditures.  Staff identified specific capital projects and presented them to a new Capital Projects Review Committee, composed of residents (including former mayors) appointed by the City Council.  In FY2003, the City created a second Capital Projects Fund to track "enterprise" (water and sewer related) projects, with the original Fund being used for all other projects, known as “governmental” projects


FIVE-YEAR CIP

The first year of the five-year CIP serves as the current year CIP budget.  Projects are categorized in four ways – Information Services, Parks, Public Safety, and Public Works.  A five-year CIP summary matches funding requirements with funding sources.

Click here to view FY2019 Capital Improvement Program details
Click here to view FY2018 Capital Improvement Program details
Click here to view FY2017 Capital Improvement Program details
Click here to view FY2016 Capital Improvement Program details
Click here to view FY2015 Capital Improvement Program details