The Town’s Capital Improvement Plan (CIP) represents a guide for the maintenance and acquisition of capital assets. It is an important management tool because it helps evaluate the effects of large capital costs on the Town’s operating budget and financial standing in terms of debt burden and capacity.
The entire CIP is not an adopted budget. Only the first year of the CIP will become part of the Town’s annual budget once approved. The CIP also is not a static planning tool as it is evaluated annually and adjusted according to Town Council’s goals and financial considerations.
The CIP for FY 2022-2026 prioritizes the Town’s plan to invest in the construction and repair of Town facilities, equipment, roads, parks and drainage. The capital plan provides a planned approach to utilizing the Town’s financial resources in the most responsive and efficient manner to meet its infrastructure and facility needs.