Capital Summary
Fiscal Year 2023 AdOPted Budget
capital projects-Comprehensive master plan
Great Parks prioritizes capital projects based on the overall Comprehensive Master Plan. In this plan, the residents of Hamilton County provided their guidance to what is important for their parks which Great Parks manages. Nearly $140 million worth of projects were presented to the public for feedback and the public ultimately approved a property tax levy to help support these projects. A summary of the targeted improvements is below:
Add more trails & adventure:
- 50 miles of new trails
- 10+ miles of new regional trails
- 25 mile blueway trail system
Refresh harbors and experiences:
- 3 refreshed harbors
- 5 improved play experiences
- 3 new camping experiences
- 4 improved disc golf courses
Build new nature, education & event centers
- 2 new nature & education centers
- 1 new event & education center
- 1 new outdoor education experience
Implement conservation projects
- 5 preserved mature woodlands
- 150 acre restoration of Shawnee Lookout Golf Course
- 13.5 acre restored forest and riparian area
- 10+ acre restored wetland and stream
- 7 green stormwater parking lot retrofits
CAPITAL EXPENDITURES
Capital expenditures are expenditures of funds for major, long-lived, fixed asset capital projects. Capital expenditures include projects addressing infrastructure, facilities and land acquisition. Large equipment and vehicle purchases are also considered capital expenditures.
At Great Parks, most capital expenditures are funded through the General Fund. Capital purchases for improvements, equipment and land acquisitions for Mitchell Memorial Forest are paid for by the Mitchell Fund. The Evergreen Fund is also used to fund some capital expenditures when a donation or grant has been received that is restricted for a specific capital purpose.
Great Parks identifies funded projects by utilizing the prioritized projects set out in the Comprehensive Master Plan. Additionally, the Capital Campaign through our Philanthropy Department provides information as to the order some projects are completed based on donor funding.
NONRECURRING CAPITAL EXPENDITURES
The purchase of large equipment and vehicles is considered a nonrecurring capital expenditure for Great Parks. An equipment and vehicle replacement schedule is followed and once the unit has reached its life expectancy, it is budgeted for replacement in the following fiscal year. The 2023 budget contains $639,000 in capital equipment and vehicle purchases.
Another nonrecurring capital expenditure that can be encountered is the expenses related to the creation of a new, large special event, as was the case in 2022 with the introduction of the Holidays on the Farm event. Instances such as this typically utilize unused operating funds to account for the creation and set up expenses.
Nonrecurring capital expenditures such as those for new, large special events do not impact the current and future operating budget as these types of expenses are covered through unused operating funds and reallocated through a Board approved budget adjustment throughout the year.