OVERVIEW
A capital project is a project of a non-recurring nature with a cost of at least $5,000 and an estimated service life of at least 10 years. The Plan identifies each capital item or project’s description and includes a justification for its purchase, the fiscal year during the item will be purchased or the project implemented, the cost of each purchase or project, and the anticipated funding source for each capital expenditure.
The Town estimates the scope, cost, timetable, and available funding for capital expenditures for the next five years.
The CIP is a plan, not an appropriation or approval of a specific project. As a plan, the CIP is flexible and updated annually to reflect changing circumstances.
CAPITAL IMPROVEMENT PLAN:
