Fiscal & Budgetary Guidelines
Capital Improvement Program Policies
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The Town of Garner will plan for capital improvements over a multi-year period of time . The Town will prioritize all capital improvements in accordance with an adopted Capital Improvement Program ( CIP ), which will relate directly to the long-range plans and policies of the Town of Garner . The Town will develop a five-year plan for capital improvements and review and update the plan annually . This program shall include all improvements and projects necessary to continue to provide existing levels of service or expand programs as directed or approved by the Town Council , within reasonable amounts and attainable timeframes . Additional projects can be added to the CIP at any time , but funding for projects added in this manner are subject to normal operating budget constraints . The Town will coordinate development of the capital improvement program with development of the operating budget .
� The Town will maintain all its assets at levels adequate to provide the services required by law , ordinance or policy , protect the Town ' s capital investment , and to minimize future maintenance and replacement costs . A current inventory of all Town physical assets and their condition shall be maintained .
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The Town will identify the total estimated capital costs , ongoing operating costs , and potential funding sources for each capital project proposal before it is submitted for approval . The Town will attempt to determine the least costly and most flexible financing method for all new projects .
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