Capital Budget

View FY 21-22 Proposed Capital Plan

The City of Miami’s Capital Budget and Multi-year Capital Improvement Plan (CIP), also known as the Capital Plan, contains information on how the City plans to invest available resources into key infrastructure, facilities, and systems between October 1, 2020 through September 30, 2026. 

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Purpose of the Capital Improvements Plan The Capital Improvements Plan is prepared by the Office of Management and Budget and the Office of Capital Improvements. It presents a comprehensive, six-year plan for enhancing and maintaining public infrastructure by repairing current facility and asset deficiencies and also providing new service delivery infrastructure.

The Capital Improvements Plan serves the following main purposes:

• Identifies the planned improvement projects
• Estimates the costs over the six-year period
• Provides the budgeted fund sources available for capital projects The City defines a capital improvement as the acquisition, construction, reconstruction, or installation of a physical public improvement or addition to fixed assets in the form of land, buildings, or improvements with a value of $5,000 or more and a “useful life” of at least three years. The Capital Plan contains the individual capital projects, equipment purchases and major studies of the City in conjunction with construction and completion schedules, and financial plans. The Capital Plan provides a working blueprint for sustaining and improving the City’s infrastructure over a six-year window. It coordinates strategic planning, financial capacity, and physical development. The Capital Improvements Plan provides the following benefits: • Synchronizes capital and operating budgets
• Systematically evaluates competing demands for resources based on a prioritization matrix reflecting the City’s long-term strategy goals and objectives
• Identifies, prioritizes, and optimizes the financing of capital projects
• Links strategic and comprehensive capital plans with fiscal capacity
• Informs the public about the City’s investment in infrastructure The FY 2020-21 Capital Plan is an update to the FY 2019-20 Capital Plan which was adopted with modifications on September 26, 2019 pursuant to Resolution No. 19-0374 and as subsequently amended on December 12, 2019 pursuant to Resolution No. 19-0506, on February 13, 2020 pursuant to Resolution No. 20- 0044, and on June 11, 2020 pursuant to Resolution No. 20-0167.