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Committee discusses shifting to two‑year capital planning to reduce issuance costs and improve prioritization
Summary
Finance staff proposed moving from single‑year bond sales to two‑year capital planning to lower transaction costs and better coordinate projects; committee members asked for templates and further work tied to a 5–10 year plan before implementation.
Finance staff outlined a proposal to adopt a two‑year capital planning and bond issuance approach that would bundle larger bond sales to reduce transaction fees and provide departments more lead time for multi‑year projects.
Staff said a two‑year drawdown schedule can reduce issuance transaction costs and that a more detailed template and timeline should be developed for department submissions. Committee members supported the concept but emphasized that a multi‑year plan should be tied to a broader 5‑ to 10‑year capital plan and that departments must identify major projects and funding priorities to make the approach work.
Members asked staff to return with a template and recommended bringing the discussion back when a new administrative coordinator is in place. Finance also suggested exploring arbitrage management and bond‑proceeds handling as follow‑up items.
