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The major sources of funds available for capital projects are dedicated funds. Dedicated funds <br /> ' must be used for a particular purpose. For the most part, these funds are accounted for in the <br /> City's special revenue or enterprise funds, such as the Road Fund, the Municipal Airport Fund, <br /> <br /> ' or the Systems Development Capital Projects Fund. Projects which are not supported by <br /> dedicated revenue are financed by a transfer from the General Fund. The City may also <br /> receive direct funding for projects from other jurisdictions or through grants. and donations. <br /> Given the wide variety of specialized funding sources and the framework of adopted plans and <br /> policies, selection of projects for the CIP does not follow aone-size-fits-all priority setting <br /> process. Instead, within each functional area various projects are selected based on a sense <br /> of the needs that have been identified within that area; the funding that is projected to be <br /> available (and the limitations on how it can be used); and any specific support or direction that <br /> has been provided by official advisory groups, neighborhoods, individual. .citizens, the City <br /> Council, outside agencies or other sources of input and guidance. In the following section of <br /> ; the document, the narrative portion at the beginning. of each functional area describes the <br /> specific considerations that have gone into project selection. within that functional area. <br /> Policy Guidelines <br /> The City's Financial Management Goals and Policies provide the framework for financial <br /> planning and decision-making by the City Council, Budget Committee, and City staff. The <br /> Capital Improvements Policies, as last revised by the City Council in April 1996, are: <br /> 1. The City will plan for capital improvements over a multi-year period of time. The <br /> Capital Improvements Program will directly relate to the long-range plans and policies <br /> of the City. Operating funds to maintain capital improvements and to fund additional <br /> staff and service needs must be estimated and identified prior to making the decision <br /> to undertake specific capital improvements. <br /> r 2. Whenever a service is an .enterprise or utility-based operation and where the ratepayer <br /> directly benefits, the City will work to finance capital.. improvements by using <br /> self-supporting revenue bonds, which could be General Obligation-backed. <br /> ' 3. Use of General Obligation bonds .will be limited to major capital construction or <br /> r. _ improvements as defined in ORS 310.140 in support of general municipal services.. <br /> r. <br /> 4. Financing of infrastructure improvements. through.. use of :Assessment. bonds will be <br /> limited to those projects where the required assessed value-to-assessment ratio is :met <br /> and to the extent the City's financial position permits the use of this financing device. <br /> 5. To maintain the City's physical assets, a current inventory of all of the City's physical <br /> assets and their condition and maintenance costs will be maintained; <br /> ~ ~ <br /> City of Eugene 2002-2007 Capital Improvement Program <br /> Page 7 <br /> _ <br /> <br />