The Cape Charles Town Council had made it a priority to have some form of process or criteria for a capital improvement plan (CIP) in place before actually creating a CIP. Councilman Grossman took the lead and created a draft for criteria. This was sent to the Mayor, Council, Treasurer and Capital Projects Manager for remarks in September of 2019. This was presented to Council at an open special meeting on December 5, 2019.
A Capital Improvement Plan (CIP) contains all the individual capital projects, equipment purchases, and major studies for a local government; in conjunction with construction and completion schedules, and in consort with financing plans. The plan provides a working blueprint for sustaining and improving the community’s infrastructures. It coordinates strategic planning, financial capacity, and physical development. A CIP stands at the epicenter of a government’s Planning, Public Works, and Finance departments.
A CIP has two parts – a capital budget and a capital program. The capital budget is the upcoming year’s spending plan for capital items. The capital program is a plan for capital expenditures that extends typically five to ten years beyond the capital budget.