Which step comes after the chief executive prepares the capital improvement plan?

The sequence of steps in the capital planning process is critical for effective governance and financial management. After the chief executive prepares the capital improvement plan, the next logical step is the review and approval of projects by the governing body.

This step is important because it ensures that the proposed projects align with the organization’s strategic goals and budgetary constraints. The governing body, often composed of elected officials, must evaluate the capital improvement plan to determine its feasibility and prioritize the funding of projects that will best serve the community.

The implementation of the capital plan follows once approval is granted, focusing on executing the approved projects. Issuance of project proposals generally happens prior to the chief executive's preparation to outline specific needs and requests. The preparation of the operating budget also typically follows project approval since the approved projects may necessitate changes to the operating budget to account for operational expenses related to new facilities or equipment. Hence, the governing body's review and approval is an essential step that ensures accountability and stakeholder engagement in the capital planning process.