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1987 LONG TERM FINANCIAL PLAN <br />Page Nineteen <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 the <br />identification of needed capital improvements to existing <br />facilities and equipment, establishment of policies setting <br />forth the City 's position regarding capital expenditures and <br />revenues to fund such expenditures, and an evaluation of the <br />long-term needs of the community. <br />