The Town of Yarmouth uses the Capital Investment Plan as a key tool to meet our operational and financial goals. It is part of our long-term financial plan.
Why we have a Capital Investment Plan
Managing a town involves many departments and responsibilities. The plan helps us put the right funding toward the right projects so the town stays safe and sustainable.
What the plan does
The plan uses risk management and other principles to balance the need to repair, replace, or upgrade assets with what the town can afford. Specifically, the plan provides:
- long-range strategic planning and prioritization of asset needs
- better evidence-informed decision-making
- long-term cost estimates to maintain assets
- improved capital planning processes across the organization
- consistent asset management practices and measures
How we choose projects
We use a capital planning tool to make a long list of possible projects. Each project is scored against a set of criteria. The scores help us decide which projects to consider for funding. Projects that score 5 on all criteria are usually already funded, cost-shared, or complete.
Reporting and cost estimates
We share the tool’s results with Council and with senior levels of government when we request cost-sharing for infrastructure projects. The Total Project Cost figures in the plan are the Town’s estimates, often prepared before final engineering design. These figures are estimates and may change as projects move forward.