Building. The Finance Committee is the policy oversight board for the Building Capital Fund. The Finance Committee must approve all expenditures from the Building Capital Fund. Since the fund was established, the following three changes were approved by the Finance Committee:
2007 – Municipal contributions and estimated replacement costs should be annually adjusted by the change in the Consumer Price Index.
2010 – Technology hardware (servers and switches) that is shared by the Agencies located in the COG Building should be included in the Building Capital Fund.
2012 – Costs were updated based on current and estimated replacement costs and going forward are to be adjusted annually in accordance with the Capital Improvement Plan (CIP).
The 2018 to 2022 CIP presented to the General Forum provides a complete listing, depreciation period, and anticipated replacement cost for building components, systems, furnishings, and technology equipment that are considered to be capital assets. The chart provided is an updated summary replacement schedule for 2018.
BUDGET
FUNDING FORMULA Municipal shares for the Building Capital Fund are based on the revised COG formula approved by the General Forum during its June 22, 2009 meeting. BUDGET HIGHLIGHTS The major proposals included in the COG Building Capital Budget are: Revenue
The January 1, 2018 committed fund balance for the Building Capital Budget is $162,143. These funds are reserved for the replacement of major items in the COG Building.
The proposed 2018 combined municipal contribution to the Building Capital Fund is $31,400, a $12,400 increase from the 2017 budgeted amount.
Internal transfers to the COG Building Capital Fund from three COG programs are proposed for 2018 total $15,400. They are: New Construction – $9,100 Existing Structures – $3,900 Regional Refuse – $1,600
The purpose of the Building Capital Fund is to finance capital improvements, capital replacements, and major repairs to the COG Building.
2018 Summary Budget – COG Building Capital
52