Capital Planning and Infrastructure

• Best Practices

  Cap­i­tal Asset Management

  Local, state and provin­cial gov­ern­ments should estab­lish a sys­tem for assess­ing their cap­i­tal assets and then appro­pri­ate­ly plan and bud­get for any cap­i­tal main­te­nance and replace­ment needs. 

• Best Practices

  Role of the Finance Direc­tor in Cap­i­tal Asset Management

  State and local gov­ern­ment offi­cials should extend the involve­ment of the finance direc­tor through all phas­es of asset man­age­ment. Finance offi­cers should be involved by under­stand­ing and pro­vid­ing infor­ma­tion to sup­port decisions. 

• Best Practices

  Strate­gies for Estab­lish­ing Cap­i­tal Asset Renew­al and Replace­ment Reserve Policies

  Gov­ern­ments should adopt a writ­ten pol­i­cy address­ing cap­i­tal asset reserve for renew­al and replace­ment. The estab­lish­ment of a cap­i­tal asset reserve pro­vides gov­ern­ments addi­tion­al flex­i­bil­i­ty in a strong cap­i­tal asset man­age­ment program. 

• Best Practices

  Cap­i­tal Plan­ning Policies

  Gov­ern­ments should devel­op and adopt cap­i­tal plan­ning poli­cies that take into account their unique orga­ni­za­tion­al char­ac­ter­is­tics includ­ing the ser­vices they pro­vide, how they are struc­tured, and their exter­nal environment. 

• Best Practices

  Envi­ron­men­tal­ly Respon­si­ble Prac­tices in Cap­i­tal Planning

  Finance offi­cers should eval­u­ate both the finan­cial and non finan­cial impacts of a project includ­ing envi­ron­men­tal­ly-respon­si­ble mea­sures that impact the juris­dic­tion in the long term as well as the local, region­al, and glob­al envi­ron­ment, changes to resource use and effi­cien­cy, and oth­er areas that impact qual­i­ty of life for the public. 

• Best Practices

  Coor­di­nat­ing Eco­nom­ic Devel­op­ment and Cap­i­tal Planning

  Eco­nom­ic devel­op­ment strate­gies and cap­i­tal improve­ment plan­ning should be coor­di­nat­ed and inte­grat­ed with­in and among governments.

• Best Practices

  Mul­ti-Year Cap­i­tal Planning

  State and local gov­ern­ments should pre­pare and adopt com­pre­hen­sive, fis­cal­ly sus­tain­able, and mul­ti-year cap­i­tal plans to ensure effec­tive man­age­ment of cap­i­tal assets.

• Best Practices

  Mas­ter Plans and Cap­i­tal Improve­ment Planning

  Gov­ern­ments should con­sid­er mul­ti­ple impor­tant ele­ments of Mas­ter Plans dur­ing its Cap­i­tal Improve­ment Planning. 

• Best Practices

  Tech­nol­o­gy in Cap­i­tal Plan­ning and Management

  Finance offi­cers should take an orga­ni­za­tion­al-wide approach to using tech­nol­o­gy for cap­i­tal pro­gram management.

• Best Practices

  Com­mu­ni­cat­ing Cap­i­tal Improve­ment Strategies

  Orga­ni­za­tions should devel­op a com­mu­ni­ca­tions plan for pub­lic par­tic­i­pa­tion focused on explain­ing cap­i­tal needs, options, and strate­gies and facil­i­tat­ing feed­back in advance of any major cap­i­tal program. 

• Best Practices

  Cap­i­tal Bud­get Presentation

  Gov­ern­ments should incor­po­rate a num­ber of appro­pri­ate guide­lines when pre­sent­ing its cap­i­tal budget. 

• Best Practices

  Estab­lish­ing an Eco­nom­ic Devel­op­ment Incen­tive Policy

  Juris­dic­tions should cre­ate a pol­i­cy on the appro­pri­ate para­me­ters for use of eco­nom­ic devel­op­ment incentives. 

• Best Practices

  Coor­di­nat­ing Eco­nom­ic Devel­op­ment and Cap­i­tal Planning

  Eco­nom­ic devel­op­ment strate­gies and cap­i­tal improve­ment plan­ning should be coor­di­nat­ed and inte­grat­ed with­in and among governments.

• Best Practices

  Role of the Finance Offi­cer in Eco­nom­ic Development

  The finance offi­cer or bud­get offi­cer should lead or be a key par­tic­i­pant in the analy­sis of the eco­nom­ic and fis­cal impacts, as well as the risks and uncer­tain­ties, asso­ci­at­ed with pro­posed eco­nom­ic devel­op­ment plans, strate­gies or indi­vid­ual projects.

• Best Practices

  Cre­ation, Imple­men­ta­tion, and Eval­u­a­tion of Tax Incre­ment Financing

  Local gov­ern­ments should care­ful­ly eval­u­ate whether TIF and TIF dis­tricts are the most appro­pri­ate and effec­tive tool to assist the local gov­ern­ment in its eco­nom­ic devel­op­ment plans. 

• Best Practices

  Eval­u­at­ing And Select­ing Eco­nom­ic Devel­op­ment Projects

  Gov­ern­ment offi­cials should ana­lyze the spe­cif­ic ben­e­fits, costs, and risks asso­ci­at­ed with eco­nom­ic devel­op­ment projects, pro­grams, and poli­cies as an inte­gral part of select­ing which projects, pro­grams or poli­cies to pursue. 

Economic Development Agreements

• Best Practices

  Nego­ti­at­ing Eco­nom­ic Devel­op­ment Agreements

  Gov­ern­ments should devel­op and pur­sue a clear nego­ti­at­ing strat­e­gy when work­ing with 3^rd par­ty devel­op­ers on an eco­nom­ic devel­op­ment project, and that the finance department/​officer should always be rep­re­sent­ed on the nego­ti­at­ing team. 

• Best Practices

  Admin­is­ter­ing Eco­nom­ic Devel­op­ment Agreements

  Gov­ern­ments should take steps to ensure effec­tive admin­is­tra­tion of eco­nom­ic devel­op­ment agree­ments through an on-going assess­ment of gov­ern­ment ben­e­fits, mon­i­tor­ing of com­mit­ments and require­ments, and com­mu­ni­cat­ing progress to the gov­ern­ing body. 

• Best Practices

  Mon­i­tor­ing Eco­nom­ic Devel­op­ment Performance

  State, provin­cial and local juris­dic­tions should mon­i­tor eco­nom­ic devel­op­ment projects and pro­gram per­for­mance to ensure objec­tives estab­lished in an eco­nom­ic devel­op­ment pol­i­cy are accomplished.