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