Page 33 - FY 2022-23 Supporting Information

2022-23 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. 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 2022-23 Proposed Budget provides $101.66 million in General Fund capital and technology spending, equivalent to
1.36 percent of General Fund revenues and thus slightly below the 1.5 percent policy target. The chart below summarizes this
spending.

2021-22 Adopted 2022-23 Proposed
(millions) (millions)
Budget Policy Investment Target - 1.5 percent of General Fund Revenue $ 112.55 $ 111.91

Capital and Technology Infrastructure Projects
Capital and Technology Improvement Expenditure Program (CTIEP)
Municipal Facilities:
Deferred Maintenance
Citywide Building Hazard Mitigation $ 0.75 $ 0.68
Citywide Elevator Repairs 0.85 0.77
Citywide Maintenance and Improvements 1.70 1.53
Citywide Nuisance Abatement 1.00 0.90
Citywide Roof Capital Repairs 0.24 0.24
Civic and Community Facilities 0.60 0.70
Contaminated Soil Removal and Mitigation 0.75 1.00
Fire Life Safety Building Systems (Regulation 4) 1.10 1.10
Overhead Doors, Automatic Gates, and Awnings 0.50 0.50
Underground Fuel Storage Tank Repairs and Replacements 0.50 0.50
Office Development and Capital Program
Capital Program - Van Nuys Civic Center 0.10 1.10
Joy Picus Child Development Center Water Intrusion - 1.20
Municipal Buildings Energy and Water Management and Conservation 1.23 1.10
Public Works Building Broadway Garage and Central Plant Maintenance - 0.63
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 0.20
Public Safety Facilities - Animal Services 0.25 0.20
Public Safety Facilities - Fire 0.25 0.20
Public Safety Facilities - Police 0.08 -
Recreation and Cultural Facilities
Algin Sutton Child Care Center Facility Renovation - 1.23
Capital Program - Cultural Affairs - 0.50
Capital Program - El Pueblo 0.20 0.20
Capital Program - Zoo 0.25 -
Engine Company 23 Junior Arts Center 0.45 1.65
Glassell Park Child Care Center Facility Renovation - 1.23
Hansen Dam Revitalization 1.00 -

19