What is a Capital Improvement Plan (CIP)?

A Capital Improvement Plan (CIP) is primarily focused on outlining planned capital expenditures for infrastructure projects. This type of plan serves as a strategic tool for municipalities and organizations to prioritize and allocate resources for significant investments in physical assets such as roads, bridges, parks, public buildings, and other infrastructural elements that support the community's needs.

The CIP typically includes details regarding the scope, timing, and funding of proposed projects, making it essential for managing public funds efficiently and ensuring that infrastructure improvements align with the community’s long-term goals. This planning process often involves assessing existing conditions, identifying needs, and forecasting future growth to create a comprehensive list of prioritized projects that will enhance community welfare.

Understanding what a CIP encompasses is crucial for recognizing how municipalities manage their capital assets and plan for sustainable development over time.