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File #: 2021-031    Version: 1 Name:
Type: Presentation Status: Filed
File created: 1/21/2021 In control: Board of Directors
On agenda: 1/27/2021 Final action: 1/27/2021
Title: Presentation of the FY 2022 through FY 2026 Capital Improvement Plan
Sponsors: Suzanne Coffey, Ali Khraizat
Indexes: Planning Services
Attachments: 1. CIP 22-26 Board Presentation

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.