Why is this important?
Examples of capital projects include the replacement of a water or sewer line, installation of traffic signals, or the development of a new park. The amount an organization is investing in capital assets and capital projects shows their commitment to maintaining infrastructure and providing quality services. The numbers represent the total annual expenses made in these areas and are inclusive of all funding sources and types.
Over the two-year period, infrastructure investment has declined; however, the city’s commitment to improving internal processes and procedures in order to deliver capital projects in a timely manner has never been stronger. The city has multiple projects planned over the next five years, which can be seen in the five-year capital improvement programs.