01/14/2008 Council Packet - Laserfiche WebLink

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Introduction The Capital Improvement Plan is a schedule of proposed public projects and purchases, over a five -year period. Capital Improvements are projects which require the acquisition, construction or replacement of various facilities, including public buildings, street, utilities and parks. The Capital Improvement Plan also addresses the level of service since it includes the purchase of equipment and vehicles. The purpose of the Capital Improvement Plan is three -fold. First, it identifies capital expenditures which will be requested over the five -year period. Second, the Capital Improvement Plan determines a source of funding for requests. Third, it provides an opportunity for long term planning. The Capital Improvement Plan should be a map and a guide to the users of where the City wants to go and how it will get there. Once the plan is formulated, it should not be put aside and forgotten. In order to gain maximum use out of the plan, there needs to be a constant revision process that maintains the integrity and accuracy of the picture that the plan represents. The plan not only tells the viewer where things are going or if goals are being met successfully, but it facilitates negotiation and decision making if the financial or political environment changes. The Capital Improvement Plan is a planning and financial tool. The plan is a planning tool since it projects into the future, establishes policies and analyzes various requests in a comprehensive fashion. The plan is a financing tool since it establishes levels of funding and provides the basis for looking at long -range financial options. The most important thing to remember when discussing a Capital Improvement Plan is that it is not etched in granite. It is a management tool that should enhance effective planning, not stifle it. If the plan is referred to and reviewed on an annual or regular basis, it will be responsive to the environmental changes that could make it obsolete unless they are addressed in some way. A well maintained plan is the key to success for the City departments and the City as a whole. • •