The CIP is a planning tool designed to aid management and policy makers in the acquisition and orderly replacement of capital assets. The plan should be updated annually to ensure it is based on the most accurate information available. The Town's capital project priorities for the next five years are under consideration.
Capital projects involve the purchase, construction or renovation of buildings or the purchase of land. Such projects ususally have a total cost of at least $50,000 and an estimated useful life of at least 10 years.
The Town has elected to include capital equipment in the CIP to more accurately plan for and evaluate future purchases. Equipment generally has a total cost of at least $10,000 and a useful life of 5 years.
Very little funds have been available for CIP funding discussions in the past few years. With the revised MI-Connection funding agreement, some funds may now be available to begin planning again.
The Management Team has submitted their requests for inclusion in the CIP. A separate list of unfunded needs has also been created.
The CIP requests and needs list will be available by the work session.