New London 2016 plans include boat launch, trail design
By John Faucher
The city of New London Capital Equipment and Projects Committee met on Thursday, Nov. 19, and approved $628,000 in funding requested for equipment and projects in 2016.
Finance Director Judy Radke reviewed with the committee, the list of 2016 requests for the capital program of general fund expenditures costing less than $25,000.
All city departments and committees met numerous times over the past year to develop the list through a ten-year planning process.
Radke gave her recommendation on how to fund the 2016 program by utilizing existing revenue sources, and she explained a transfer of three larger projects to the capital bond-funding list.
The three projects moved to the bonding list included $85,000 for the Newton Blackmore trail design, $38,940 for swimming pool shower upgrades, and $42,150 for repaving projects under parks and recreation.
“Those items fit more under the long-term bonding category,” said Radke. “Items under $25,000 are shorter term, and are done within the operational part of the 2016 capital equipment and project list. Those types of projects and equipment purchases, you ‘pay as you go’ with current funding.”
She then outlined where the funds would come from to fund the $628,000.
An ongoing balance of $30,895 in the capital projects fund will be carried forward. The city also budgets $250,000 annually for projects and equipment.
An additional $35,500 is budgeted for year-to-year capital maintenance items. “This is always in there for interdepartmental equipment such as computers and software licensing,” said Radke.
Uses of designated funds include $71,000 that was set aside over the past five years in anticipation of the citywide revaluation. An improvement to the west boat launch at Riverside Park includes $18,900 of designated funds for a new center dock.
“This comes directly from user generated fees at the boat launch,” said Radke.
The funding plan also utilizes $55,755 of designated funds left over from the pool roof project completed last year.
Of the total $628,000 approved by the committee for 2016 capital requests, $218,000 will be used for equipment purchases, and $425,140 for projects.
“We’re going to be a very busy city next year,” said Radke. “I think the public will be very happy to see a lot of these projects finally get done.”
The committee’s recommendation will go before city council for final approval in December.
The committee will tentatively meet again in late January or early February to address the long-term (over $25,000) capital projects and equipment list, and the 2016 bond program.