A Capital Improvement Plan (CIP), or Capital Improvement Program , is a short-range plan, usually four to ten years, which identifies capital projects and equipment purchases, provides a planning schedule and identifies options for financing the plan. Essentially, the plan provides a link between a municipality, school district, parks and recreation department and/or other local government entity and a comprehensive and strategic plan and the entity's annual budget. A listing of the capital projects or equipment to be purchased . The projects ranked in order of preference . The plan for financing the projects . A timetable for the construction or completion of the project . Justification for the project . Explanation of expenses for the project . Overall Process Prior to undertaking the development of the CIP, the government entity will want to define the criteria for what kind of projects or equipment are to be included and organize a process for developing the plan. What is defined as a capital project or capital purchase may vary from city to county to district to state depending on the size of the local government provisioning the plan. Generally, they will be tangible items that have a life expectancy greater than one year. Specific Steps Establish a Capital Planning Committee with Bylaws Take Inventory of Existing Capital Assets Evaluate Previously Approved, Unimplemented or Incomplete Projects Assess Financial Capacity Solicit, Compile and Evaluate New Project Requests Prioritize Projects Develop a Financing Plan Adopt a Capital Improvements Program Monitor and Manage Approved Projects within the CIP Update Existing / Ongoing Capital Programs
A capital improvement plan (CIP), or capital improvement program , is a short-range plan, usually four to ten years, which identifies capital projects and equipment purchases, provides a planning schedule and identifies options for financing the plan. Essentially, the plan provides a link between a municipality, school district, parks and recreation department and/or other local government entity and a comprehensive and strategic plan and the entity's annual budget. A listing of the capital projects or equipment to be purchased The projects ranked in order of preference The plan for financing the projects A timetable for the construction or completion of the project Justification for the project Explanation of expenses for the project Overall process Prior to undertaking the development of the CIP, the government entity will want to define the criteria for what kind of projects or equipment are to be included and organize a process for developing the plan. What is defined as a capital project or capital purchase may vary from city to county to district to state depending on the size of the local government provisioning the plan. Generally, they will be tangible items that have a life expectancy greater than one year. Specific steps Establish a capital planning committee with bylaws Take inventory of existing capital assets Evaluate previously approved, unimplemented or incomplete projects Assess financial capacity Solicit, compile and evaluate new project requests Prioritize projects Develop a financing plan Adopt a capital improvement program Monitor and manage approved projects within the CIP Update existing / ongoing capital programs
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Capital Improvement Plan
capital improvement plan
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Capital Improvement Program
capital improvement program
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Process
process
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Steps Establish a Capital Planning Committee with Bylaws Take Inventory of Existing Capital Assets Evaluate Previously Approved, Unimplemented or Incomplete Projects Assess Financial Capacity Solicit, Compile and Evaluate New Project Requests Prioritize Projects Develop a Financing Plan Adopt a Capital Improvements Program Monitor and Manage Approved Projects
steps Establish a capital planning committee with bylaws Take inventory of existing capital assets Evaluate previously approved, unimplemented or incomplete projects Assess financial capacity Solicit, compile and evaluate new project requests Prioritize projects Develop a financing plan Adopt a capital improvement program Monitor and manage approved projects
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Existing
existing
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Ongoing Capital Programs
ongoing capital programs