Management’s Discussion and Analysis

(In thousands)projects at the Lander Street Water Renewal Facility. Capital related costs for FY 2022 were anticipated 21.6% higher than FY 2021 with increase in planned investments in major equipment $10.1 million in FY 2022, an increase of $5.3 million, with smaller increases in major repairs and maintenance $6.3 million in FY 2022, up $1.0 million, and an increased number of Parks and Recreation projects with a collective budget of $2.9 million compared to $0.7 million in FY 2021. However, a large portion of anticipated work was still delayed due to global and local supply chain issues.

Major capital asset projects and activities during fiscal year 2022 included the following:

Governmental Activities

$2,081 - Land Purchase for Low Income Housing Project

$1,796 - Fire Station #6 Renovations

$1,490 - Greenbelt Renovation & Repair

$1,434 - Police Vehicles

$1,104 - Land Purchase Fire Station #13

$851 - Fire Brush Rigs

Business-Type Activities

$20,457 - Airport Public Garage

$11,232 - Landers Street Temp/Phosphorus Compliance

$7,465 - Airport Taxiway S.

$5,230 - West Boise Operations Units

$5,165 - Airport South East Cargo Apron

$4,553 - Airport Employee Parking Garage

Long-term Debt

At September 30, 2022, the City had $182.8 million in outstanding debt consisting of general obligation (GO) bonds, revenue bonds and directly placed debt.

(In thousands)

Additional information on the City’s Long-term debt can be found in Note 3 to the financial statements.

Economic Factors and Next Year’s Budgets and Rates

The City prepares a financial forecast which provides a multiyear view of anticipated General Fund revenues and expenditures. The Forecast assumes current service levels, is updated regularly, and is presented to the City Council as part of the quarterly financial reports and annual budget document. Updates are made for actual revenue receipts and expenditures, and other factors that change or become known and have a bearing on the City’s financial future (e.g., legislative changes, new facilities, service delivery changes). Periodic reports are transmitted to the City Council providing actual information relative to these projections.

The City’s Capital Improvement Plan (CIP) includes all proposed capital projects citywide. As part of the due diligence process, projects are subject to prioritization criteria, which is discussed in the Capital Funds section. While each capital project may meet a specific identified need, all proposed capital projects must compete for limited resources. The end result of the prioritization process is a five-year Capital Improvement Plan, of which the first year is presented as part of the annual budget.