Since the G.O. bonding capacity is limited, it is allocated to the most appropriate capital projects. The allocation procedure is an efficient and equitable funding of prioritized needs, according to a standardized procedure. The administration currently has a budget review committee that evaluates and makes recommendations on operating and CIP budgets. The CIP policies include an evaluation of project funding priorities. The shorter life projects generally comprising projects of less than 10 years are not bond financed.
Examples are repairs, roof maintenance, resurfacing pot holes, etc.
Equipment is excluded from CIP and bond funding. The Director of Finance shall perform an annual debt policy review to validate debt capacity projections, and to provide a recommended level of new tax-supported debt authorization. The recommendations are contained in an abbreviated Debt Affordability Recommendation which is updated annually. The director generates necessary quantitative analysis. Enterprise and special revenue fund debt is integrated into and is subject to a review process.