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Committee adds automatic calculations, plans cash-flow tool and inflation options for CIP worksheet
Summary
Chair Scott Severn updated the CIP spreadsheet to add automatic-calculation cells and a cash-flow view; he will explore inflation formulas and obtain current fund balances from the Treasurer to improve accuracy before the next meeting.
Chair Scott Severn told the Capital Improvements Program Committee that he has updated the CIP worksheet to include automatic calculation cells and is building a cash-flow plan so entries auto-tabulate and reduce manual maintenance.
Severn said he will test adding an inflation formula (committee discussion referenced a 5% manual inflation rate historically applied to police cruiser estimates) and will defer final inflation assumptions until the committee meets with the Police Chief to set a baseline. He asked staff to obtain current fund balances from the Treasurer and Trustees of the Trust Funds so the worksheet can be populated with accurate starting figures.
Committee discussion also clarified typical handling of grant monies: when grants are received they are usually reimbursements (the transcript cited an example of reimbursement at 80% of a gross appropriation) and tracking reimbursements, lease purchases and appropriations may require additional spreadsheet columns and coding. Severn said he will incorporate the Fire Chief’s fund-code and deposit recommendations into the worksheet ahead of further review.
