Title
Presentation of the FY 2022 through FY 2026 Capital Improvement Plan
Body
Agenda of: January 27, 2021
Item No: 2021-031
TO: The Honorable
Board of Directors
Great Lakes Water Authority
FROM: Sue F. McCormick
Chief Executive Officer
Great Lakes Water Authority
DATE: January 21, 2021
RE: Presentation of the FY 2022 through FY 2026 Capital Improvement Plan
MOTION
Upon recommendation of Suzanne Coffey, Chief Planning Officer, The Board of Directors for the Great Lakes Water Authority (GLWA), receives and files the presentation of the Capital Improvement Plan Discussion Draft #2 (FY2022 to FY2026), refers the plan to the Capital Planning Committee for their review and recommendation to the full Board of Directors, and authorizes the Chief Executive Officer to take such other action as may be necessary to accomplish the intent of this vote.
JUSTIFICATION
A capital improvement plan addresses the following objectives.
1. Identifies an organization’s priorities within available resources over a multiple year period.
2. Communicates the scope, funding, and timing to stakeholders, coordinating agencies, investors, and the public.
3. Encompasses stakeholder engagement in its development.
4. Aligns with strategic objectives of the organization, including effective capital delivery and regulatory compliance at the lowest cost of capital investment.
BUDGET IMPACT
The FY 2022 through FY 2026 Capital Improvement Plan identifies $932.5 million of water system capital improvements and $738.4 million of sewer system improvements.
COMMITTEE REVIEW
The Capital Planning Committee reviewed Preliminary Drafts of the CIP on October 27, 2020 and December 15, 2020.