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Capital improvement planning is critical for cities and counties. Developing a long term inventory of necessary expenditures is the first step toward building an annual budget from two perspectives. The capital improvement plan guides the long-term expenditures that are placed in each annual budget AND it helps a community determine the level of funds that need to be placed in the capital improvement account each year to fund future improvements and maintenance. The amount of capital improvement funds that are needed triggers the level of taxes and rates that must be levied each year. Communities who effectively plan for these expenses find themselves with a “rainy day fund” when expensive infrastructure and equipment must be replaced or rebuilt. These funds are the best source of matching funds for grant dollars, which can offset some of the cost of these purchases.
Several years ago, the NCRPC commissioned the development of a Capital Improvements Planning Manual. This manual is still available to cities and counties. In addition, the NCRPC staff can consult with government entities to aid them in developing a capital improvement plan.
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