Largo presents FY2630 capital plan; wastewater, stormwater funding prompt scrutiny

Largo City staff presented the proposed FY2026through FY2030 Capital Improvements Program (CIP), outlining fund projections, major project portfolios and next steps for commission review and adoption.

The presentation covered enterprise funds (golf course, wastewater, solid waste), special revenue funds (stormwater, CRA/West Bay Drive, penny-for-pinellas), the general fund and the Horizon capital projects fund. Staff emphasized the CIP is a five-year planning document used to prioritize capital spending, align projects with the citys strategic goals and to set rates needed for implementation.

Why it matters: The CIP sets near-term capital investments and underpins potential utility rate adjustments. Large projects and multi-year rate plans affect residents budgets, service reliability and the citys ability to borrow for infrastructure.

Key financial details and projections presented

- Government-wide and fund highlights: staff reported a government-wide surplus discussed earlier in the meeting and showed a $4.5 million increase in general-fund total fund balance for 2024 (total fund balance, not unassigned). The Horizon capital project fund showed large bond and project activity: an ending 2023 balance reported around $37 million, 2024 around $9.5 million and a current balance identified in presentation text at roughly $2.22 million; staff noted a $20.5 million bank loan…