What is an ongoing part of effective capital budget management?

Regular updates to the capital improvement plan are integral to effective capital budget management because they ensure that the plan remains relevant and aligned with the community's current needs and priorities. Capital projects and initiatives can evolve due to various factors such as changes in community demographics, economic conditions, and regulatory requirements. By continuously updating the capital improvement plan, municipalities can adapt to these dynamic conditions, allocate resources more effectively, and manage public expectations regarding infrastructure and development projects.

Furthermore, this ongoing practice facilitates improved decision-making by incorporating new data, prioritizing projects based on current information, and ensuring that funding is directed toward initiatives that provide the greatest benefit to the community. Effective capital budget management requires a proactive approach, and regular updates help create a sustainable and responsive planning framework.