Page 48 - Watauga FY22-23 Budget

BUDGET OVERVIEW – BUDGET-IN-BRIEF

Capital Projects

➢ The City’s Capital Improvement Plan (CIP) is a 5-year plan for public physical
improvements to include infrastructure such as streets, water and sewer and
drainage improvements. In addition, parks and building improvements are
included in the CIP. The CIP provides a forecast of funds available for capital
projects and identifies all planned capital improvement projects and their estimated
costs. A detail of these projects can be found in the Capital Improvement section
of this document. Approximately $23.3 million in planned capital projects are
included in this year ‘s budget and include continuation of the Whitley Road Street
project, the Hightower Road Street project, and various water and sewer and storm
drain infrastructure projects. Projects supported by the Economic Development
Corporation include a food business park at Capp Smith Park. Some projects will
carry over from FY2021-2022 and year-end projections are subject to change.
Unused funds roll over each year until the projects are completed. Capital

equipment identified needs include $2.4 million in vehicles, equipment, facility, and
technology needs. More information can be found in the Capital Outlay section of
this document.

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