Page 391 - NRH FY20 Approved Budget

CAPITAL PROJECTS FUNDS

The Capital Improvement Program (CIP) is a process by which the City designs a multi-year plan for major
capital expenditures. Due to the tremendous growth of the capital projects program, and the amount of detail
required for these projects, a separate document is provided for the Capital Improvement Program. This is the
eleventh year the Capital Projects Budget will be produced as an independent document. Generally, the CIP
includes improvements that are relatively expensive, are non-recurring, have a multi-year useful life, and like
capital outlay items, result in fixed assets. These include the construction and acquisition of new buildings,
additions to or renovations of existing buildings, construction of streets, drainage improvements, land
purchases, and major equipment purchases. Due to the nature and total cost of the identified projects, bond
proceeds are the major source of revenues. The CIP is a dynamic process, with projects added and deleted
from the financed and unfinanced lists as they move through the project completion process.

387