Page 32 - FY 2021-22 Supporting Information

2021-22 PROPOSED BUDGET
CAPITAL AND TECHNOLOGY INFRASTRUCTURE FUNDING POLICY

FINANCIAL POLICY

Pursuant to the City's Financial Policies, the City shall make adequate investments to maintain real property and equipment at appropriate levels
(Fiscal Policy No. 37). The City also adopted a revised Capital and Technology Improvement Policy (Policy) in May 2020 to further guide the City’s

process for planning, identifying, evaluating, and prioritizing funding for new capital and technology projects as well as the ongoing maintenance of the
City’s existing assets. The Policy requires, to the extent possible, an annual minimum investment target of 1.5 percent of the General Fund revenue for

City's new capital projects, maintenance of existing assets, and information technology improvements starting in 2021-22. This 1.5 percent General

Fund spending target for capital and technology projects replaced the previous policy target of one percent, which was limited to capital projects. These
policies recognize the importance of maintaining the City's capital assets on a regular basis to avoid major deferred maintenance and to extend the
useful life of the asset.
The Mayor's 2021-22 Proposed Budget provides $152.12 in General Fund capital and technology spending, equivalent to 2.07 percent of General Fund
revenues and thus in compliance with the 1.5 percent policy target. The chart below summarizes this spending.
2020-21 Adopted* 2021-22 Proposed
(millions) (millions)
Budget Policy - 1.5 percent of General Fund Revenue $ 66.87 $ 110.05
Capital and Technology Infrastructure Projects
Capital and Technology Improvement Expenditure Program Municipal Facilities:
Deferred Maintenance
Citywide Building Hazard Mitigation $ 0.50 $ 0.75
Citywide Elevator Repairs 0.40 0.85
Citywide Maintenance and Improvements 0.65 1.70
Citywide Nuisance Abatement 0.42 1.00
Citywide Roof Capital Repairs 0.50 0.24
Civic and Community Facilities - 0.60
Community Redevelopment Agency Future Development Property Maintenance 0.12 -
Contaminated Soil Removal and Mitigation 0.50 0.75
Fire Life Safety Building Systems (Regulation 4) 1.10 1.10
Overhead Doors, Automatic Gates, and Awnings 0.30 0.50
Underground Fuel Storage Tank Repairs and Replacements - 0.50
Office Development and Capital Program
Capital Program - Public Works Building 0.50 -
Capital Program - Van Nuys Civic Center - 0.10
Municipal Buildings Energy and Water Management and Conservation - 1.23
Space Optimization Tenant Work - 0.20
Van Nuys City Hall and Marvin Braude Constituent Center Security - 0.35
Workplace Safety Facility Improvements - 2.00
Public Safety Facilities and Security Upgrades
Operating Equipment for Police Evidence and CATS Warehouse - 1.30
Public Safety Facilities - Animal Services - 0.25
Public Safety Facilities - Fire 0.25 0.25
Public Safety Facilities - Police 0.08 0.08
Recreation and Cultural Facilities
Capital Program - El Pueblo - 0.20
Capital Program - Zoo - 0.25
Engine Company 23 Junior Arts Center - 0.45
Hansen Dam Revitalization - 1.00
Jamie Beth Slavin Park - 0.50
Jesse Owen Mini Park Improvements - 0.50
Runyon Canyon Restroom - 0.15
Sepulveda Basin Master Plan - 1.00

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