FY 2025 BUDGET BOOK - Flipbook - Page 104
The City’s budget has two primary components: operating and capital. The City Commission holds
one public hearing on the proposed budgets and one public hearing on the final budgets.
The CIP budget funds major improvements to City facilities and infrastructure and is based on the
first year of capital needs in the five-year period of FY 2025-2029. The CIP Budget also includes
anticipated operating costs associated with significant capital maintenance and improvements.
The purpose of the CIP is to systematically plan, schedule and finance capital projects to ensure
cost-effectiveness as well as conformance with established policies and required mandates. The CIP
is a five-year plan organized into the same functional groupings used for the operating budget. The
CIP reflects a balance between capital replacement projects that repair, replace, or enhance
existing facilities, equipment, or infrastructure; and capital facility projects that significantly expand
or add to the City’s existing fixed assets.
Construction projects and capital purchases of $5,000 or more are included in the CIP. Minor capital
outlays of less than $5,000 are included in the regular operating budget. The CIP differentiates the
financing of high-cost long-lived physical improvements from low-cost
