Supporting documentation for the Capital Improvement Workshop.

• The Capital Improvement Plan (CIP) is a long-range plan used to develop the annual operating budget, capital improvement budget, and long-term financial forecasts. It helps to ensure they are in alignment with and supportive of the City’s strategic goals. The CIP is a separate budgeting process from the City’s annual operating budget and looks out over the next ten years.
• The first three years of the CIP consist of projects adopted as part of the Capital Improvement Budget (CIB). The first year of the CIB reflects projects that will be initiated and/or completed during the upcoming operating budget year. The second and third year projects are those for which plans are in the preparation phase.
• The CIP book consists of a summary of projects that are scheduled to commence during the 2022-2026 budget years, and a separate list of projects being considered for years 2027-2031. A map of the projects depict their impact throughout the City. Project summaries are separated by projected funding source and a single project may be reflected under multiple sections if attributed to more than a single source of funding. Debt summaries and forecasts for general obligation and revenue bonds are also provided.
• Upon approval by the Governing Body, staff will begin the preliminary planning for future implementation of these projects. The CIP and its corresponding resolution provide the authority and authorization for the project to move forward once funding becomes available.