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DJ - Capital Improvement Planning

Policy Statement 

The Falmouth School Board is committed to developing and managing a Capital Improvement Program. The capital improvement plan not only addresses the maintenance and replacement of existing assets, it also looks ahead for future needs, projects and mandates. The final product is used to prepare the annual budget. Before and after each annual budget is adopted, the plan is revised for use in the next annual budget preparation.

This policy will assure both taxpayers and bond rating agencies that the investment in assets is actively and satisfactorily managed.

Purpose

A capital improvement plan is a valuable and critical planning tool that is used to manage the continuing need to replace, repair or add equipment, buildings, land and other capital assets. It is also a record of what assets are owned or under some form of control by the School Board.


1. Description of the Capital Improvements Program (CIP)

Programming involves the planning of long-term capital expenditures by Falmouth Public Schools. Capital expenditures include funds for buildings, major equipment, and other commodities that are of significant value and have a useful life of many years. A capital improvement is defined as a capital expenditure that is more than $10,000 and has a useful life of more than three years.

The CIP provides a framework for the following administrative functions:

  1. Estimating capital requirements.

  2. Scheduling projects over fixed periods with appropriate planning and implementation.

  3. Prioritization of capital improvements.

  4. Developing a financing plan for proposed projects.

  5. Coordination of activities to meet project schedules.

  6. Monitoring and evaluating the progress of capital improvements.

  7. Informing the public and Town Council of projected capital improvements.
     

  1. Benefits of the Capital Improvements Program

The CIP provides a means of implementing the objectives and policies of Falmouth Public Schools.  Considerable benefits may be derived from a systematic approach to the programming of capital projects.

These include:

  1. Focusing attention on Department/community goals, needs and capabilities.

  2. Achieving optimum use of the taxpayer's dollar.

  3. Guiding future educational facility and equipment needs.

  4. Serving wider community interests over localized ones.

  5. Maintaining a sound and stable financial program.

  6. Focusing attention on existing infrastructure conditions.

  7. Enhancing opportunities for participation in federal and state funding programs and privately funded partnerships.
     

  1. Decision Factors

There are a variety of internal and external factors that may influence CIP decisions.

These factors include:
 

  1. Maintenance of Existing Facilities – Falmouth Public Schools already has a considerable investment in its buildings, equipment and other assets. With limited financial resources to expand the existing capital stock, priority may be given to keep existing facilities in good working condition.
     

  2. Availability of State and Federal Funding - The decreasing availability of revenues is a cause for concern that may require new priorities with CIP decisions.
     

  3. Unforeseen Issues – Even the best planning cannot anticipate future unforeseen circumstances or opportunities. Addressing these issues as they arise will be a consideration of the School Board’s CIP process.
     

  1. CIP Development and Adoption

Under the direction of the School Superintendent, the Director of  Finance and Operations, and the Director of Facilities the CIP is updated annually.  Once the plan is updated, it is presented to the School Board for review and eventually incorporated into the proposed annual budget.
 

 

Adopted: September 16, 2013

Revised:  May 18, 2020