The Seabrook Draft CIP has been released. We have utilized a new format for this draft which will better meet the needs of the Selectmen, Budget Committee, and Planning Board as a key aid in compiling annual capital budget requests through the warrant. This document, in draft form, has been presented to the Board of Selectmen, who have begun their review.
In order to facilitate that review I have prepared “mini-CIP” documents reviewing departmental requests, with a focus on the FY 2023 capital budget by department. The reviewed department documents are also included here.
One of the improvements made to this process is to identify how these capital requests will be paid for, and whether such financing is on a “pay-go” basis or utilizes other financing methodology.
There may be some changes to this document before it is finalized.
With preparations ongoing for the production of the new Seabrook Capital Plan I have prepared the 8 year review of Seabrook capital spending, which is attached below, with the corresponding tabs. This review shows us where our capital spending has gone, both by department, and by function. Seabrook capital spending has been financed with capital bonds, fund balance, and on a pay/go system through the budget. Importantly both the Budget Committee and the Board of Selectmen have approved the creation of capital reserve accounts, which will help to smooth our capital budgets annually.