Capital Improvement Plan (Program), or CIP, is a short-range plan, usually four to ten years, which identifies capital projects and equipment purchases, provides a planning schedule and identifies options for financing the plan. Essentially, the plan provides a link between Township, its strategic plan and the Township annual budget.

Benefits

The CIP provides many benefits including:

  • Allows for a systematic evaluation of all potential projects at the same time.
  • The ability to stabilize debt and consolidate projects to reduce borrowing costs.
  • Serve as a public relations and economic development tool.
  • A focus on preserving Township infrastructure while ensuring the efficient use of public funds.
  • An opportunity to foster cooperation among departments and an ability to inform other units of government of the entity’s priorities.

Features

The CIP includes the following information:

  • A listing of the capital projects or equipment to be purchased.
  • The projects ranked in order of preference.
  • The plan for financing the projects.
  • A timetable for the construction or completion of the project.
  • Justification for the project.
  • Explanation of expenses for the project.

 

Specific Steps

  1. MCL 125.3865 Specifies that a CIP is requires and is implemented by the Planning Commission
  2. Take Inventory of Existing Capital Assets
  3. Evaluate Previously Approved, Unimplemented or Incomplete Projects
  4. Assess Financial Capacity
  5. Solicit, Compile and Evaluate New Project Requests
  6. Prioritize Projects
  7. Develop a Financing Plan
  8. Adopt a Capital Improvements Program
  9. Budget with Capital Improvements in the Budget
  10. Monitor and Manage Approved Projects within the CIP
  11. Update Existing/Ongoing Capital Programs

 

Kimball Township – Capital Improvement Plan

 

 

Implementation Spreadsheet

Leave a Reply

Your email address will not be published. Required fields are marked *

Close Search Window