Council allocates year-end funds to address long-term capital and infrastructure needs
Council allocates year-end funds to address long-term
capital and infrastructure needs
At their November 3 meeting, the City Council voted
to re-invest $2.6 million from Fiscal Year 2024-2025 into long-term capital and
maintenance needs, augmenting dedicated funds that have been significantly
drawn down over the past two years as the City undertakes an unprecedented
number of concurrent facility, park, and infrastructure improvements.
The action followed a review of FY2024-25
financial results by Finance Director Kiran Bawa. At year-end, City revenues
were 2% above budget and expenditures 3% below budget, leaving a General Fund
balance of $9.9 million.
Consistent with City policy, $7.3 million will
remain in reserve. The remaining $2.6 million will be transferred into special
funds that support the City’s ongoing capital, facility, and infrastructure
needs:
·
$1.5 million to the Facilities Capital Fund,
which finances major building projects and renovations
·
$850,000 to the Equipment Replacement Fund for
future vehicle and equipment purchases
·
$250,000 to the Facilities Maintenance Fund
for preventative maintenance and facility preservation
These transfers reflect the City’s ongoing
commitments to creating healthy, vibrant public spaces and addressing aging
infrastructure, while continuing to budget conservatively and maintain a
healthy reserve.
Investing in Piedmont’s infrastructure
More capital projects are underway throughout
Piedmont now than at any point in memory. In addition to construction of the
new community pool and 9-1-1 dispatch center – two of the largest, most complex
undertakings in the City’s history – 10 additional major projects are currently
under construction or in design, including:
·
Linda Beach Tot Lot renovation and ADA access
upgrades
·
City street resurfacing project, which is
creating 17 new ADA curb ramps, re-paving 10 streets, and re-striping another
32
·
Storm drain upgrades at eight locations
·
Installation of 4 public EV charging stations
in the Civic Center
·
Truss-pipe sewer repair
·
Sidney & Irene Dearing Memorial
·
Piedmont Park swings replacement
·
Two sewer-line upgrade projects that,
combined, will replace 24% of Piedmont’s aging sanity sewer system
·
Pedestrian safety upgrades on Moraga Avenue
Projects completed in the past year include:
·
Bicycle and pedestrian safety upgrades on
Grand Avenue
·
Piedmont’s first green infrastructure bioswale
at Grand and Fairview
·
Replacement of an aging pedestrian bridge in
Piedmont Park
·
New, expanded batting cages at Coaches Field
·
Pathway repairs throughout Piedmont Park
·
Renovation of the Linda Beach pickleball
courts
Meanwhile, the City’s public buildings – many
of which are over 100 years old – require increasing investments in security,
utility, and safety improvements in order to meet today’s workspace and
community needs. Significant facility projects in the past year include new
access controls at City Hall, waterproofing at the Recreation Department, and
upgraded wi-fi at Community Hall.
The City has also begun early work to develop
a master plan for aging Police and Fire facilities, which no longer meet modern
code standards for essential services buildings.
Maintaining stability while investing in the future
Piedmont’s financial policies require that the
City maintain a General Fund reserve equal to 18% of annual operating expenses.
After these capital transfers, the City’s reserve stands at 19%, even as staff
deliver one of the most active capital improvement programs in City history.