What is a multi-year capital plan?

A multi-year capital plan is best defined as an outline of anticipated capital projects over several years. This type of plan serves as a strategic blueprint for governmental entities or organizations to identify and prioritize capital improvements and expenditures that extend beyond a single fiscal year. By considering multiple years, the plan facilitates long-term financial planning, aligns capital projects with available resources, and addresses the community's infrastructure needs in a more systematic way.

This approach allows for a more comprehensive view of capital needs, helping to ensure that projects are integrated into a broader financial context. It assists in managing public expectations, securing funding, coordinating with various stakeholders, and timing projects effectively, which ultimately contributes to better decision-making and resource allocation in achieving community goals.