Budget FAQ’s This document serves a reference of frequently asked questions and will be updated throughout the process as needed.
Capital Outlay versus CIP Budget (Capital Improvement) ‐ A Capital Improvement Budget is a separate budget from the operating budget. Items in the Capital Budget are usually construction projects designed to improve the value of the government assets. Examples of capital improvement projects include roads, sewer lines, buildings, recreational facilities and large-scale remodeling. The Council receives a separate document that details the Capital Budget costs for the upcoming fiscal year. The Capital Budget is based on a Capital Improvement Program (CIP). Capital Improvement ‐ Major construction, repair of or addition to buildings, parks, streets, bridges and other City facilities. Capital Improvement Program (CIP) ‐ A multi‐year plan for capital expenditures needed to maintain and expand the public infrastructure. It projects the infrastructure needs for a set number of years and is updated annually to reflect the latest priorities, cost estimates, or changing financial strategies. Capital Outlay ‐ Represents expenditures which result in the acquisition or addition to fixed assets including land, buildings, improvements, machinery or equipment. Most equipment or machinery expenditures are included in the Operating Budget. Capital improvements such as acquisition of land and related construction and engineering fees are generally in the Capital Budget. Resource X needs to be updated with any CIP changes. The capital outlay spreadsheet is looking specifically at what assets you will purchase in the next six years, some of which are not significant enough to be a CIP but are over the $20k threshold. The list for FY 2023-24 will be published as an exhibit and will the first place the procurement department looks when determining if large purchases were in the budget. What gets entered in Munis is whatever expenses will be budgeted for both CIP and Capital outlay in FY 2023-24. What is Resource X? Resource X is used for CIP Planning to better illustrate, rank, and allocate all capital projects. Resource X is a web-based system that is available to all departments. Office Hours are help throughout the week with Resource X representative, Chris Fabian, if you’d hands on training. If you do not have access, please contact either Melissa Sill or Turner Adams to get you set up.