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Category: Government

Town of Franklin Water and Sewer Capital Improvement Plan and Financial Model

background

The leadership with the Town of Franklin understands the importance of planning and preparing needed infrastructure capital improvements. As the Town continues to grow and redevelop, this type of planning is more important than ever before. While the Town was working off a legacy list of needed sewer improvements, it had not recently completed an analysis of its water infrastructure needs. The Town needed to understand what capital projects were needed over the next 10 years so it could prepare and plan for them in advance.

solution

The Town retained WR-Martin to develop a 10-year Capital Improvement Plan (CIP) and financial model. WR-Martin worked hand in hand with the Town’s project engineer, McGill Associates, to capture the needed information to complete the project. Our team met with the Town staff responsible for managing the water and sewer systems and discussed the prior list of sewer projects to ascertain which have been completed and which had the highest priority. Furthermore, we discussed other sewer needs that were not included in the dated report. Planning and discussions were also conducted to evaluate the water system needs. Additionally, the team considered the needs for miscellaneous capital assets, including vehicles and equipment, as well as the future implications to staff, operations, and maintenance expenses when capital projects were undertaken.

Using the information for identified capital needs, WR-Martin worked with the Town to prioritize the needs of the planning period and distinguished between projects that were routine/recurring from those that were non-recurring and would involve substantial capital investments, specific appropriations, or debt. The information was then used to develop a 10-year CIP schedule that depicted the Town’s water and sewer capital improvements, operations, and maintenance needs during the planning period along with representative cost estimates and a proposed timeline. Finally, WR-Martin prepared a financial model that addressed methods of financing each project contained in the CIP, including the use of existing revenues, anticipated revenues from related new users, and new debt.

result

At the end of the engagement, the Town was provided with a Capital Improvement Plan that set forth a year-by-year schedule of planned capital projects and the methods for funding each. The financial model that was prepared also enables the Town to determine if planned revenues are going to be sufficient to fund operations and capital needs. The Town now has a clear understanding of the necessary improvements and investment that are required for its water and sewer operations and tools available to support the planning and budgeting annual process.