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1906 LONG TERM FINANCIAL PLAN <br />Page Twenty-two <br />f <br />II. CAPITAL IMPROVEMENT PLAN <br />Section 7.05, Subdivision 3, of the Charter calls for the <br />preparation of a Capital Improvement Plan as part of the <br />Long -Term Financial Plan :which "...shall consist of projects <br />and facilities that are or will be needed by the City in <br />carrying out the anticipated program of public services." <br />The development of a Capital Improvement Plan requires <br />the identification of needed capital improvements to <br />existing facilities and equipment, establishment of <br />policies setting forth the City's position regarding <br />capital expenditures and revenues to fund such expendi- <br />tures, and an evaluation of the long-term needs of the <br />community. <br />r <br />r,_ <br />