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| What
is the Capital Improvements Budget (CIB)? |
The
purpose of the capital improvements effort is to:
- identify
short and long term capital needs;
-
prioritize capital improvement projects;
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coordinate all projects in Metro for more efficiency and cost
savings and;
-
develop a financial plan for funding projects.
The
Capital Improvements Budget presented here covers a six-year period
(FY04-FY09). In order for any Metro department, agency or office to
undertake a capital project in the future, that project must be included
in this document.The CIB is separate from the annual operating budget
and is funded in the most part by general obligation bonds.A
capital project is any expenditure requiring council authorization
that:
- requires
the acquisition, construction, replacement, renovation or modification
to any land, building, public utility, equipment, public thoroughfare,
or place of public activity; and
- which
has a useful life expectancy of ten years or greater.
Capital projects do not include regularly recurring equipment
replacement purchases (like automobiles), and ongoing typical
maintenance of facilities and equipment.
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