The Charlottesville Planning Commission got a look last week at a preliminary budget for the capital improvement program for the fiscal years 2023 through 2027. Council will vote next spring to approve the first year of spending, but decisions for future years would be for future versions of Council. (November 23 presentation) (watch the meeting)
But first, what is a capital improvement program? Krisy Hammill is a Senior Budget and Management Analyst for the City of Charlottesville.
“It’s basically a five-year financing plan that contains infrastructure type projects that usually cost more than $50,000,” Hammill said. “They’re generally non-recurring and non-operational and they generally have a useful life of five years or more.”Read more