Capital Improvement Plan

A Capital Improvement Plan is a statement of intent by the City with approval of their elected body to establish a multi-year program for major capital expenditures and the financial resources necessary to accomplish the plan. A Capital Improvement Plan is a flexible planning tool designed to be altered annually as conditions warrant.

A multi-year capital improvement plan provides a long-range mechanism for the community to identify needed projects and expenditures, selects those projects deemed most important and determines when such projects should occur and anticipates the impact such expenditures will have on the community and its financial condition. Some of the benefits of developing a long-range capital improvement plan:

  1. Provides a stable tax rate which allows taxpayers and the city government to plan moreeffectively.
  2. Provides adequate time to plan and coordinate construction projects and eliminate costly duplication of efforts.
  3. Provides adequate time to search for alternate methods of financing, including debt issues and grants-in-aid.
  4. Provides time to acquire land and right-of-way where needed.
  5. Allows time for communication and public input regarding future project plans for thecommunity.
  6. Reduces spur-of-the-moment decisions.
  7. Assists in planning efforts of other public utilities, agencies, and businesses.

The City defines capital expenditures as projects which cost more than $10,000 and have a life expectancy of five years or more. Projects are evaluated and priorities are assigned based upon demand or usage, prior commitments, age and condition of facilities and equipment, and costs versus benefits. Priorities are subject to change as conditions warrant. This plan does not authorize any expenditure but does provide a plan of capital expenditures for the development of each year’s budget.