Budget for capital improvement and debt refinancing strategically
Capital investment decisions are fundamental to ensure cities’ long-term growth. Pressure to dedicate resources toward programs and service delivery during the pandemic may limit the availability of resources to pursue investments. As the situation stabilizes, it is essential to use capital improvement and debt refinancing strategically to establish the building blocks of economic recovery.
Some questions to guide your thinking
- Does the city have a complete list of capital projects?
- Does the city have a process to prioritize capital projects according to strategic criteria?
- What are the city’s debt refinancing options?
- Does the city have a process to segment financing decisions according to strategic criteria and capital project selection?
Prioritizing multi-year capital investments with constrained budgets
Government Finance Officers Association (GFOA) 15 minutes
This reading introduces Financial Foundations for Thriving Communities, a new framework to help cities solve the challenges inherent in managing the shared financial resource and prioritizing uses.