BELMONT — The Planning Board will soon begin the annual review and update of the Capital Improvements Program (CIP) which is a multi-year schedule for capital expenditures defined as projects costing in excess of $25,000 with a useful life of at least one year. The CIP, originally adopted in 2004, is updated annually in response to the actual budget appropriated by the voters at the previous Town Meeting and requests for new or amended capital projects for the upcoming six years.
During this annual update the Board will review capital requests from municipal departments. Peter Harris, board chairman, says that members of the public are also invited to suggest needed projects by submitting a completed CIP Funding Request Form which can be obtained in the Belmont Land Use Office at the Town Hall or at http://www.belmontnh.org/data_cip.asp. The Planning Board will schedule a public hearing and once adopted the CIP is provided to the Selectmen and Budget Committee for their consideration during the upcoming 2014 budget season.
The CIP is a budgeting tool linking Community Vision from the Master Plan with the implementation of capital projects. The CIP assists the Selectmen and Budget Committee in developing and presenting to the voters an overall budget which avoids unanticipated expenditures by scheduling capital projects over the term of the CIP. Historic and projected trends in revenues, expenditures and growth are evaluated along with the community’s ability to fund the cost of improvements. The projects are prioritized by their placement over the term of the 6-year plan resulting in a more level tax rate impact.
CIP Funding Request Forms with all supporting data to be considered can be submitted to the Land Use Office no later than August 16th. CIP information is available in the Land Use Office and in the Data Center at www.belmontnh.org/data_cip.asp.