Capital Improvement Program for Genoa Charter Township
In order to effectively budget for capital improvement expenditures it is important for a community to create a plan in order to strategically allocate funds and to assess current and future needs. A capital improvement plan is a six year schedule of all proposed major capital improvement projects. This plan identifies specific capital improvements, assesses their priority, estimates cost, determines potential methods of financing (if necessary) and evaluates their impact on current and future operating costs. There are several benefits to creating a capital improvement plan. These benefits include:
• Ensuring consistency of public facilities with the Township Master Plan.
• Allowing proposed improvements to be scrutinized systematically, and tested against funding and land use policies.
• Improving the scheduling of public improvements.
• Providing a system for long range financial planning and management.
• Enhancing the opportunities to participate in federal and state grant –in-aid programs.
In addition to the specified benefits, Genoa Township is required by the Michigan Planning Enabling Act of 2008 to “annually prepare a capital improvements program of public structures and improvements” because we “own and operate a water supply and sewage disposal system.” This document serves to not only meet our statutory requirement, but to provide the benefits of capital expenditure planning.
Please click on the image below to receive a copy of the CIP document (it is in .pdf format).