Finance committee asks staff to develop five-year capital improvement plan

The Skagway finance committee voted to request staff further develop a five-year capital improvement plan to help the borough plan and budget for large infrastructure projects.

Chair introduced the concept as a mechanism to plan for multi-year needs such as an incinerator, sewer repairs and a potential school roof replacement. "We really don't have anything that rolls over per se," the chair said, explaining concern that assemblies change and planning continuity is lost.

Emily Deetsch, borough manager, told the committee staff currently maintain a five-year spreadsheet but lack a binding multi-year fiscal plan. "What it really is is a strategic plan...a capital improvements plan," she said, adding that asset-management practices help map maintenance and lifecycle costs over decades.

Deputy Manager Rebecca Kamaka said a five-year and longer (15–20 year) financial plan would layer projected revenues, operating costs and capital projects, incorporate inflation and allow staff to roll up detailed models into an easier-to-read summary for decision makers. Kamaka suggested using an objective scoring matrix to prioritize projects and guard against including only short-term or popular items.

Committee members discussed potential adoption mechanisms, whether the assembly could be obligated by code to honor multi-year commitments, and the need for legal review. The managers said staff would build a financial model, include treasurer input and return with a draft for committee review.

Chair moved that staff continue work on establishing a five-year CIP; Assembly member Potter seconded and the committee approved the request.