Capital improvements are any expenditure related to land acquisition, construction or renovation of school facilities, or the purchase of equipment that has a life expectancy of 10 years or longer. The average of age of Metro’s school buildings is 42 years.
The school board must adopt a six-year capital improvements budget each year. Projects with the highest priority are listed in year one. The Capital Improvements Budget (CIB) for all Metro agencies, including MNPS, is compiled by the Metro Planning Commission annually. The mayor and finance director review the agency requests, make changes as needed, and then submit a Mayor’s Recommended CIB to the Metro Council by May 15. The Metro Council then has 30 days to review, amend and adopt the plan.
It is important to note that the annual Capital Improvements Budget (CIB) is just a list of project requests. Adoption of the CIB by the Metro Council does not actually fund individual projects. After the mayor and finance director assess the city’s needs, priorities and the current funding availability (bonding capacity), they may file a Capital Spending Plan for individual projects with the Metro Council. Once the council adopts the Capital Spending Plan, work on these projects can begin.
Proposed Capital Master Plan, 2012-18