Capital Improvement Program
Objectives of the Capital Improvement Program
The process of developing a Capital Improvement Program, (CIP) creates an annually-recurring framework for responsible fiscal decision making. The primary objectives of the CIP are to:
- Ensure projects reflect the goals of the City’s Comprehensive Plan and other long-range planning documents;
- Ensure the City’s limited fiscal resources deliver the greatest benefit to the community by thoughtfully prioritizing improvements and eliminating redundancy across Departments;
- Schedule preventative maintenance of facilities to reduce long-term capital costs due to deferred maintenance;
- Stimulate private investment in the City by constructing and maintaining high-quality infrastructure;
- Ensure a transparent capital budgeting process that encourages discussion and limits the influence of special interests; and,
- Maintain or improve the City’s credit rating, thereby reducing borrowing costs, improving flexibility during market fluctuations, and signaling responsible fiscal management to private investors.
What is a Capital Improvement?
A capital improvement is a new or expanded physical facility that is of relatively large scale, relatively expensive, and relatively permanent. Capital improvements include facilities like playgrounds, police stations, and sewer systems. The replacement of existing facilities is considered a capital improvement. Finally, items that factor into the overall cost of large-scale facilities, such as master plans, design and engineering plans, land acquisition, or demolition, are considered capital improvements. These may fall within one or more of the following categories:
- The acquisition or lease of land;
- The purchase of furnishings, equipment, or vehicles;
- The construction/renovation/replacement of buildings, infrastructure, or facilities – including pre-construction costs; or,
- Major, non-routine building improvements that substantially enhance a structure’s value.
| Attachment | Size |
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 Capital Improvement Program - FY2022 - FY2026 | 775.26 KB |