2021-40 - Budget Priorities Reso

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Below please find a set of criteria for project -based capital investments endorsed by the Finance Committee. It is recommended that you evaluate your budget submission against these criteria and be sure that it meets at least one, if not several of the criteria on the list. City of Lakewood Project -Based Capital Investment Criteria Criterion A ❑ j The project or policy is mandated by another government entity or other legal requirement. Criterion B ❑ The project or policy meets a need or provides a service that is not served by by another government entity or that is traditionally served municipal governments. Criterion C I ❑ i The project or policy was started in a previous year. ICriterion D i The project or policy provides an important health and/or safety benefit, and/or it .. creates a potential hazard or liability if not corrected. Criterion E i ❑ The project is a necessary repair or replacement of existing infrastructure or facilities. Criterion F El The project or policy cost will be offset by operating cost savings, increased j productivity, and/or increased revenues, or creates a cost/loss by not doing it since j( it will be preventative in nature. Criterion G ❑ The project or policy should be used by or directly serve at least 33% of residents. Criterion H ( The project or policy advances community vision or other objectives put forward by a study, plan, or task force. Criterion I ❑ The project or policy would have direct positive economic development impacts, i and is supported by the business community as a priority. Criterion J ❑ The City has the financial capacity to sustain or maintain this policy or project the long term This or will not create an over (10 years or more). policy project acute, unfunded financial burden on future City budgets for maintenance or continuation of the policy or project. 3 1 P a g e 3