What is included in the Capital Improvement Plan?

The Capital Improvement Plan (CIP) is a significant document used by organizations, especially in public sectors like government and airports, to strategically plan and prioritize capital projects over a set timeframe. The inclusion of a 5-6 year plan for capital improvement projects is essential because it allows entities to forecast necessary investments in infrastructure, maintenance, and upgrades. This planning ensures that funds are allocated efficiently, projects are scheduled wisely, and the long-term vision of the organization is adhered to.

Typically, the CIP will detail expected expenditures, identify funding sources, and outline project timelines, which supports effective governance and informed decision-making. By having this extended timeline, stakeholders can also align future developments with community needs and expectations, ensuring that necessary improvements keep pace with growth or changing regulations.