FY2023 Adopted Operating and Capital Budget

FY2023 Adopted Budget Budget and Finance Policy Capital Improvement Program Policy

The Capital Improvement Progra m (CIP) i s a schedule o f publi c improvement projects planned by County Government to occur over a six year perio d an d include s project descriptions , estimated costs, an d sources of funding . The Capital Budget is th e first year of the CIP and include s those project s for which funds have been appropriated. A capital project in th e CI P shall establish certain characteristics includin g value, useful life and overall contribution to the County infrastructure . Th e project will have a n estimated individual cost totalin g $100,00 0 or more. Eligible capital costs will includ e Land Acquisition , Site Improvements , Planning , Design , Construction , Inspection/Overhead, Technology Equipment/Infrastructure , Capita l an d Non Capital Equipment/Vehicles (related to start up costs or comprehensiv e replacement plan) , an d Project Management. These costs will be listed in current dollars and update d annually.

A Capital Improvements Progra m Committee shall b e established and managed b y the Budge t Office. They will evaluate the merits of each requested project and recommen d to the County Executive what should b e included in the County Executive Proposed Budget . Th e Count y will attempt t o budget pay go funding for capital improvements at an amount equal to 7% of General Fund operating revenues. All pay go sources will be considere d i n total in reachin g this goa l excep t for direct third party donations or grants. Other capital funding will b e obtained by general obligation bonds/leases , state DQG IHGHUDO JUDQWV HQWHUSULVH IXQG UHVRXUFHV DQG RWKHU VRXUFHV 7KH %XGJHW 2IILFH ZLOO DQQXDOO\ UHYLHZ WKH &RXQW\¶V GHEW affordability standards, update WKH VWXG\ DQG FRPSDUH WR WKH &RXQW\¶V SHHU JURXS $OO FDSLWDO SURMHFWV will be reviewe d and approve d in accordanc e with Annotate d Code of Maryland Land Us e Article § 3 205 regardin g consistency with th e Count y Comprehensiv e Plan . The Planning Commission ZLOO YRWH RQ WKH FRQVLVWHQF\ EDVHG RQ WKH &RXQW\ ([HFXWLYH¶V proposed budget .

47