Town of Blacksburg

PROJECT DETAILS/COST ESTIMATES

Town Manager

Department

Project Title

Capital Reserve

Status

Existing

Project Description

Established in FY2018 with $200,000 previously received from the sale of an easement to a developer, the purpose of the Capital Reserve Project is to accumulate funds to finance all or part of future significant capital projects involving construction, reconstruction or acquisition of property. The criteria and process for use of the funds are incorporated into the Town's financial policies. In FY2020, as a response to the financial impact of COVID-19, the existing balance of the Capital Reserve ($440,000) was transferred to the General Fund fund balance. In FY2021, $200,000 was returned to the Capital Reserve project with excess appropriations. Future contributions are dependent of financial conditions.

Goal Addressed

Sustainability

Estimated Start Date

Estimated End Date

Continuing

Continuing

Total Five-Year CIP

Funded through 6/30/2026

FY2027 FY2028 FY2029 FY2030 FY2031

Funding Sources General Fund

Total Project Funding

$1,490,000

690,000 140,000 150,000 160,000 170,000 180,000 $800,000

General Obligation Bonds Water & Sewer Fund Stormwater Fund Solid Waste Fund VDOT Revenue Sharing

$0 $0 $0 $0 $0 $0 $0

$0 $0 $0 $0 $0 $0 $0

VDOT Smart Scale

Other/Grants Total Sources

$1,490,000

$690,000 $140,000 $150,000 $160,000 $170,000 $180,000 $800,000

Total Five-Year CIP

Appropriated through 6/30/2026 FY2027 FY2028 FY2029 FY2030 FY2031

Expenditure Type Design/Engineering

Total Project Cost

$0

$0

Construction

$1,490,000

690,000 140,000 150,000 160,000 170,000 180,000 $800,000

Land Acquisition

$0 $0

$0 $0

Vehicles/Equipment

Total Uses

$1,490,000

$690,000 $140,000 $150,000 $160,000 $170,000 $180,000 $800,000

Operating Impact

Town of Blacksburg

25

FY 2027-2031 Adopted