Create a Website Account - Manage notification subscriptions, save form progress and more.   

King George County Virginia Homepage
Search

Capital Improvements Plan (CIP) Policy & Procedures

  1. General
    1. Pursuant to 15.2-2239 of the Code of Virginia, the King George County Planning Commission shall prepare for adoption an annual Capital Improvements Program. The CIP is a plan for capital expenditures and a means of financing facilities, equipment and vehicles during the next five fiscal years.
    2. A key purpose of developing a Capital Improvement Plan, in addition to adequately serving the citizens of King George County, is to maintain all assets at a level to protect the County’s capital investments and to minimize future maintenance and replacement costs for the tax payers.
    3. To be included in the County’s Capital Improvement Plan, items must be in alignment with the County’s strategic plan, have a unit cost greater than $50,000 and a life span of more than five years.
  2. Governing Standards
    1. Governmental Accounting Standards Board (GASB)
    2. Generally Accepted Accounting Principles (GAAP)
    3. Government Financial Officers Association (GFOA)
    4. Nationally recognized Rating Agencies (i.e. Standard & Poor’s, Moody’s Investors Service, Fitch Ratings)
  3. Planning and Performance
    1. The County will develop a five-year Capital Improvement Plan annually.
    2. The first year of this plan will be adopted and appropriated by the Board of Supervisors. This will be deemed the County’s Capital Budget for that fiscal year. (See preparation and adoption below)
    3. The capital improvements budget will be coordinated with development of the operating budget in order to include future operating costs associated with new capital improvements/projects. 
    4. Major or multi-year projects may be approved over several years. The first year’s approval will be for engineering or any costs related to performing an assessment to determine estimated costs and needs to complete the project. The second year’s approval will be design and some construction, depending on funding and time to complete. Remaining costs will be allocated in the capital budgets based on estimated time to complete and available funding. 
  4. Financing
    1. Funding of capital projects and any debt related to capital projects will come from  the Capital Improvements Fund Revenues (currently includes landfill revenues) revenues. The Board of Supervisors will approve additional sources should the capital improvement fund revenues be inadequate, etc.
    2. Use of Landfill revenue is summarized as follows: (See Landfill Revenue Use Policy for
      details)
      1. Funding for debt service – the total amount of debt service (principal plus interest) for capital projects previously or currently approved.
      2. Funding for capital projects – the remaining amount of landfill revenues, once total debt service has been deducted, is available cash for capital projects.
    3. Cash funding will be the preferred funding strategy for vehicles budgeted in the CIP.
    4. Debt may be issued to fund projects as approved by the Board of Supervisors. County Staff, along with its Financial Advisor, will determine the most practical solution that’s best for tax payers. (See Debt Policy)
    5. Interest earnings from bond proceeds, fund balance, cash, investment accounts, etc. shall be dedicated to one time capital needs as approved by the Board of Supervisors. Note: Interest earned on bond proceeds for School projects must be spent on School  capital needs.
  5. CIP Preparation
    1. The Director of Finance, in conjunction with the County Administrator, Community Development Director and Board of Supervisors will develop a CIP budget schedule.
    2. The Finance Department will distribute to all departments the CIP request packet by November 1 or according to the approved CIP schedule. (Includes Schools and Service Authority)
    3. All departments will submit their CIP requests back to the Director of Finance no later than December 1 or according to the approved CIP schedule. Included in the CIP request will be the operating impact of the proposed project, including personnel, operating expenditures and funding sources, etc.
    4. Finance will review budget requests and submit to the County Administrator for review and budget hearings with Department Heads.
    5. County Administrator will develop a recommended budget and submit to the Community Development Director for review by the Planning Commission by December 15th or according to the CIP schedule.
    6. The Community Development Director will submit the County Administrator’s recommended budget to the Planning commission for review.
  6. CIP Adoption
    1. The Planning Commission will review all CIP requests, consult with the County Administrator, Department Heads, and the general public; prioritize projects, make recommendations with regard to amount and year to be funded, and conduct public hearings as it deems necessary.
    2. The Planning Commission will then submit the recommended CIP to the County Administrator no later than February 15th or according to the CIP schedule.
    3. The County Administrator will review the CIP, make recommendations and submit CIP to the Board of Supervisors in conjunction with the presentation of the budget (if practicable) between March 1st and March 15.
    4. The Board of Supervisors will conduct work sessions, as deemed necessary, and adopt the annual Capital Improvements Program prior to April 1st or according to the CIP budget schedule.

  1. King George County Virginia Homepage

Contact Us

  1. King George County

  2. 10459 Courthouse Drive

  3. King George, VA 22485

  4. Phone: 540-775-9181

  5. Staff Directory

Government Websites by CivicPlus®
Arrow Left Arrow Right
Slideshow Left Arrow Slideshow Right Arrow