Fundamentals for Developing a Capital Improvements Plan

Location: 

Wake Forest Renaissance Centre

405 S. Brooks St.

Wake Forest, NC 27587

Cost: $80 per person

Course Description: 
In this course, fundamentals for developing an effective comprehensive Capital Improvements Plan (CIP) for your city or town will be explored. Municipal leaders, finance professionals, public works staff, planners, and elected officials will learn why a CIP is an essential tool for local governments of all sizes in effectively anticipating and meeting their communities’ needs.  Participants will hear about the practical steps that their governments can take in developing a CIP that incorporates 3 major components of capital planning: Identification, Prioritization, and Funding, and then manage this Plan on an annual basis, aligning the CIP with the Annual Budget and a Strategic Plan.

What to Expect:
In this course, participants will explore how to:
• Develop a practical Capital Improvement Plan (CIP) program that supports long-term municipal success.
• Align capital projects with community priorities and strategic plans to maximize organizational impact.
• Prioritize capital expenditures using an evaluation process that weighs key criteria.
• Analyze fiscal requirements by considering both capital expenditures and the operating costs required to sustain investments.
• Develop funding plans for the CIP that are realistic and achievable.
• Use capital planning and financing tools to make informed decisions that strengthen fiscal health, resource management, and public service outcomes.

Number of AML credits: 6 AML Credits
Number of NASBA credits and fields of study): 6 CPE Credit Hours
NASBA Fields of Study: 
Accounting (governmental) – 30 minutes
Finance – 135 minutes
Management Services – 135 minutes

Course topics/agenda:
8:30 am – 9:00 am – Check- in/AM Refreshments
9:00 am – 12:00 pm 
• Foundations and Benefits of a CIP program
• Review of a typical multi-year model for a CIP 
• Practical Steps to developing a CIP for the first time
- Identification of capital needs
- Prioritizing and evaluating potential capital items
- Evaluating operating budget impacts
- Developing realistic funding and financing strategies

12:00 pm – 1:00 pm – Lunch
1:00 pm – 2:00 pm 
• Engaging internal and external resources in developing a final CIP
• Governmental actions needed to approve the CIP and incorporate into the Annual Budget
• The continuum of managing the annual CIP process and evolving it for new circumstances

2:00 pm – 3:45 pm
• Table Exercises: Building a Hypothetical CIP (Scenarios Provided)
• Reporting Results; Class Discussion

3:45 -- 4:00 pm – Wrap -up Comments and Class End

Subject Matter Expert(s)/Instructor(s): 
Sharon Edmundson is the Director of Municipal Finance Programs with the North Carolina League of Municipalities. Sharon is the former secretary of the Local Government Commission and a deputy treasurer for the State and Local Government Finance division of the North Carolina Department of State Treasurer. She has over 30 years of experience in governmental and public accounting. Sharon received her B.S. in business administration with a concentration in accounting from the University of North Carolina at Chapel Hill, and a master’s degree in public administration from North Carolina State University. She is a member of the North Carolina Association of CPAs and is a long-time member of its Governmental Resource Group. She also serves as an adjunct faculty member at the UNC School of Government in the online MPA program.

Perry James is a Senior Consultant for the North Carolina League of Municipalities, responsible for initial development and assistance on the League’s new Municipal Accounting Services (MAS) Program. He developed major parts of the MAS program designed to provide new government specific software and accounting assistance to many small governments in North Carolina. Previously, he was a Municipal Operations Consultant with the League, serving primarily the mid to northeast territory of the state. Perry joined the League after retiring in 2017 from the City of Raleigh where he was the Chief Financial Officer, also serving for a period as the Interim City Manager. Perry is a CPA and belongs to the N.C. Association of CPA’s and the American Institute of CPA’s. Perry graduated from the University of North Carolina at Chapel Hill. He has served on the Board of the Government Finance Officers Association (GFOA) and was President of the North Carolina GFOA. He is the author of the booklets Ten Keys to Effective Governing Board Oversight and Building on the Ten Keys that are the basis for the training.

Susan McCullen is a Consultant with the North Carolina League of Municipalities’ Municipal Accounting Services (MAS) Program. Prior to joining the NCLM in 2023, Susan served as the Fiscal Management Section Director for the NC Local Government Commission. Susan also served as the Finance Director for Wake County, NC, retiring from that role in 2018 after twenty-two years with the County. Susan received her BBA with a concentration in Accounting from Middle Tennessee State University.

For information about our administrative policies, such as those regarding complaints or refunds of registration fees, please contact us at (919) 715-8835.
NCLM is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:  www.NASBARegistgry.org. 
The NC League of Municipalities is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors.  State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.  Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org}