County Executive Announces Passage of Capital Improvement Program 2017-2021

County Executive Bob Culver is pleased to announce the Capital Improvement Program 2017-2021 was approved by County Council at their meeting on February 16, 2016.

The five year Capital Improvement Program, referred to as CIP, is an important tool that assists Wicomico County in its long-range financial and public works plans. Each year, the program is reviewed and priorities are re-evaluated. Often new projects that have become matters of higher priority are added. The first year of the program will be considered as the Capital Improvement Budget. It is this portion which receives the closest scrutiny and for which funding decisions are made. The remaining years serve as a guide and an indicator of what future capital requirements are likely to be, their cost and probable sources of funding. That part of the Capital Budget requiring County funds may come from current revenues, prior fund balances, grants and the proceeds from the sale of General Obligation Bonds. In order to receive the maximum favorable interest rate, the County must pledge the County's full faith and credit to servicing the bonded debt, subject to Charter restrictions.

Executive Culver is appreciative to the County Council for moving this CIP program forward.