Adopted Capital Improvement Program Budget FY 2024-25 through FY 2029-30

City of Morgan Hill Capital Improvement Program FY 2024-25 – FY 2029-30

350 - Undergrounding – Streets & Roads

Fund Description The purpose of the Undergrounding Fund is to underground existing overhead lines throughout the City. The Fund receives revenues from developers for the undergrounding of utilities in areas of new development. Expenditures may be made from these funds only for design and construction associated with such undergrounding.

Project List

2024-25

2025-26

2026-27

2027-28

2028-29

2029-30

- -

$

- -

$

- -

$

- -

PF2006 - Project Administration $ SR5002 - Undergrounding project

12,008 $

49,196 $

250,000

1,000,000

262,008 $ 1,049,196 $

- $

- $

- $

-

Totals $

How this Fund Generates Money for Capital Investment Fees are paid by developers of properties. Additionally, the City may receive funds or credit from PG&E to support additional undergrounding work. The City attempts to leverage both PG&E and City funding to accomplish larger undergrounding projects.

Limitations and Other Important Factors These funds must be used for undergrounding of utilities in areas of new development. Goals for Capital Investment Complete one significant undergrounding project using City and PG&E funding.

Revenues- Other includes interest income. Expenditure- Other includes annual transfers-out to the General Fund for administration.

Six-Year Pro Forma

2023-24 YE 2024-25

2025-26

2026-27

2027-28

2028-29

2029-30

Fund 350- Undergrounding Projected Beginning Fund Balance

479,737 $

510,300 $

541,384 $

572,987

$ 1,626,301 $ 1,671,875 $ 1,482,935 $

Revenues - Impact Fees

-

-

-

-

-

-

-

Revenues - Other

74,302

47,258

31,863

32,424

32,983

33,541

303,409 256,660

Expenditures - CIP Projects

262,008

1,049,196

-

-

-

-

Expenditures - Other

1,234

1,260

1,300

1,340

1,380

1,420

1,175

Ending Fund Balance

$ 1,671,875 $ 1,482,935 $

479,737 $

510,300 $

541,384 $

572,987 $

605,108