City of Port Coquitlam Capital Improvement Program May 1993.

Capital Improvement Program Policies

In developing this capital plan, City Council has approved some policy statements as guides in capital
programming. The following represents the capital improvement budget policies of Port Coquitlam:

1.

2.

The City will develop a multi-year plan for capital improvements and update it annually.

The City will make all capital improvements in accordance with the adopted Capital Improvement
Program.

The City will co-ordinate development of the capital improvements budget with development of
the operating budget. Future operating costs associated with new capital improvments will be
projected and included in operating budget forecasts.

The City will maintain all its assets at a level adequate to protect the city's capital investment and
minimize future maintenance and replacement costs.

The City will project its equipment replacement needs for the next several years and will update
this projection each year.

. The City's policy will be to repay any withdrawals trom the land sales reserve, with the exception

of bs sand purchases,

. Projects which are critical to completion of the city's goals should be financed at reduced rates.

. Infrastructure replacement should be financed on a pay-as-you-go basis with a portion of the plant

to be renewed each year.