Capital Budget
The Capital Budget is a plan to manage purchases of assets which are expected to remain in service for several years or sometimes decades. Typically the budget will identify different classes of assets, like vehicles, equipment, buildings, storm water pipes, roads, sidewalks and sewer systems. The capital budget will show the purchase costs as well as the specific sources of funding for the purchases, e.g. either from the current year's tax revenue (property tax), from our capital savings (reserves), from debt (debentures), or from Federal or Provincial grants. Each year Council reviews and approves a 10-year capital budget.
The Capital Investment Plan looks much farther into the future, 5, 10, 20 or even 50 years. The capital investment plan will also show how long we estimate major assets will last and how much we predict they will cost to replace them. The Capital Investment Plan helps to guide our path toward long-term sustainability. It's a portrait of what our Town could look like in the future. It's an endowment of viability, a legacy which we hope our children and grandchildren can be proud to inherit. Governments, like the Town of Berwick, commonly establish a uniform and organized multi-year (10-year) capital investment plan (CIP) to outline the public facilities, major equipment, infrastructure, and land purchases that the jurisdiction intends to implement during a multi-year period given the availability of funds.
Additions, deletions and revisions are recommended, based on the following criteria:
- Priority of the project;
- Benefits derived from the project;
- Cost and financial impact of the project; and,
- Acceptability to the local constituency
Download latest Capital Budget (2.4 MB).