Council adopts FY2025-30 CIP

posted on 12/18/2023

At its meeting on Dec. 13, the City Council approved three resolutions to adopt the FY2025-2030 Capital Improvements Program (CIP). The CIP was first presented to the City Council and Planning Board in November. Following a public hearing, the Planning Board adopted the CIP on Dec. 12, recommending the proposal to the City Council. The City Council held a public hearing on the CIP on Dec. 6.

The CIP prioritizes all capital spending of $25,000 or more for items with a useful life of three years or longer. Based on the City Council financial policies, funding for these items includes bonding, the annual operating budget, or other types of financing, such as grant financing. This six-year program links infrastructure spending to the goals and values outlined in the city’s Master Plan. Through this process, the city identifies projects within the six-year timeline based on the priorities established in the city’s Master Plan.

The first year of the adopted CIP will be included in the proposed citywide operating budget, which will be presented to the City Council in February. As part of the CIP, the City Council authorized bonding $20,825,000 for debt-service projects beginning in FY2025. Some of the projects are multi-year projects, and the issuance of bonds will be done based on cash flow requirements per the projects’ proposed segments, as presented in the FY2025-2030 CIP. The City Council also authorized appropriating $3,812,694 for FY2025 non-debt financed projects and authorizing the transfer of capital reserve funds in the same amount to fund these projects.

More information about the CIP can be found on a special section of the city's website devoted to the program, accessible at https://www.dover.nh.gov/government/city-operations/planning/special-projects/cip/.