The Planning Board was directed as a result of  the 1984 Town Meeting to prepare and maintain a six-year capital improvements program ("CIP") to aid the Budget Committee in its consideration of annual budgets. Related to the preparation of this CIP, RSA 674:7 requires municipal departments, the school board, the library, and the water district to submit statements of proposed capital expenditures to the Planning Board. For CIP purposes, the Planning Board defines "capital expenditure" as the purchase, construction, or improvement of land, buildings, infrastructure, or equipment having an associated cost of $100,000 or more and an estimated useful life of at least seven years.

 

According to the New Hampshire Government Finance Officers Association financial manuals, a well-designed CIP not only facilitates coordination between capital improvement needs and operating budgets but it also serves as a major link in tying together community planning, financial capacity, and physical development.  It generally accomplishes the following as well.