Capital Improvement Plan (CIP)

The Capital Improvement Plan (CIP) is a community planning and budgeting tool
used to coordinate the identification, timing, and financing of capital improvements
and major, non-recurring physical expenditures. The CIP includes priority ranking,
schedules of project funding, and an estimate of project costs and financing sources.
ISG recommends using this CIP as a living document that is reviewed and updated
annually to reflect changes in community needs and priorities.

The City of Volga committed to developing a CIP to identify short-term needs,
projects, and associated expenditures. The plan provides a working blueprint for
sustaining and improving the community’s infrastructure. It coordinates strategic
planning, financial capacity, and physical development.

Introduction + Purpose
The CIP is a flexible plan based on improvement planning, equipment, and financial
projections. Identifying needs helps schedule the major public improvements that
may be incurred by the City over the next five years. A major public improvement
or capital expense is described as any project or item that costs at least $10,000.
Flexibility of the CIP is established through annual review and necessary revisions. The
annual review assures the program will become a continuing part of the budgetary
process and will be consistent with changing demands and patterns in cost and
financial resources.

The CIP can be used to describe the overall objectives of City development, the
relationship between projects with respect to timing and need, and the City’s fiscal
capabilities. The CIP can also serve as a tool for implementing the City’s goals and
objectives related to major public improvements and expenditures.

The CIP assists with the following:

• Provides a systematic approach to planning and initiating capital projects, thereby
affording the City the opportunity to plan the location, timing, and financing of
needed public improvements

• Develops a realistic program of capital spending within the City’s projected fiscal
capability to finance such projects, thereby avoiding significant changes in the tax
levy or bonded indebtedness

• Coordinates public and private improvement projects in order to allow adequate
time for design and engineering to eliminate duplicate effort and expense

• Informs the public about proposed projects and expenditures

• Provides the necessary planning and lead time, in addition to meeting other
prerequisites, required for successful applications to certain federal and state
grants and funding sources

Click here to view the latest Capital Improvement Plan.
Click here to view other City related documents in the Document Library.