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Finance

Capital Budget and Planning

The Capital Budget and Planning program is responsible for tracking and reporting on the various areas of the capital improvements process for the Metropolitan Nashville Government. This includes preparation of the Capital Improvements Budget (CIB), in coordination with the Planning Commission, the Capital Spending Plan and Quarterly Capital Status Reporting.

Capital Improvements Budget

The Capital Improvements Budget (CIB), as mandated by the Metro Charter, is an annual plan of proposed expenditures for capital projects and the means of financing them. This document outlines potential projects over a 6-year horizon allowing decision makers to determine a funding schedule which is fiscally and administratively practical. The CIB does not appropriate funds, but instead identifies projects that are eligible for consideration of funding in the Capital Spending Plan. Project requests are submitted annually by Metro agencies and the Mayor and are compiled and approved by the Planning Commission each Spring. The Planning Department must file the Mayor's Recommended CIB as an Ordinance by May 15th. The Metro Council then reviews and edits the projects as desired and must approve the Final CIB by June 15th of each year.

Capital Improvements Budget Documents:

Capital Spending Plan

The Capital Spending Plan contains the Mayor's recommendations of capital project requests from the CIB that the Administration would like to see approved and financed. The spending plan highlights projects that line up with the Mayor's priorities and the needs of Nashville / Davidson County. The vast majority of projects are funded with general obligation bonds, but there are thirteen other methods of financing that can be utilized. There is no mandate in the Metro Charter for an annual capital spending plan, so it can be submitted at the Mayor's discretion. The Capital Spending Plan must be approved by the Metro Council by Resolution.

Capital Spending Plan Documents:

Debt Service - Annual Operating Budget Book:

Capital Status Report

The Capital Status Report is produced every quarter and details the status of approved capital projects from the prior capital spending plans. The report provides the amounts approved, the amount spent and the remaining balance for each capital project along with the amount spent from the prior quarterly report. The report also provides the capital balance accounting reports for all the major capital funds/accounts as well as the current 4% Reserve Fund balances for each department.

Capital Status Report Documents:

Four Percent Reserve Fund

The Four Percent Reserve Fund is a pool of guaranteed monies derived by a fund transfer from the General Fund Revenue of the General Services District (GSD). It is specifically intended by Charter to provide funds for the purchase of equipment and/or the repair of buildings for those departments deriving their operating budgets from the GSD General Fund. The Mayor may recommend to the Metro Council the appropriation of 4% Reserve Funds for the purchase of needed equipment and/or needed repairs to buildings or facilities. The Metro Council must approve the allocation of 4% proceeds by Resolution. The equipment and/or building repairs requested from 4% funds are intended to be of lesser cost and shorter lifespan than those items or projects typically requested in the annual Capital Improvement Budget (CIB), which are on the nature of $50,000 or higher and the lifespan of at least ten years. There is no designation as to the minimum/maximum number of times appropriations can be or should be made from the 4% Reserve Fund during the fiscal year. Administrative Policy requires a minimum $500,000 balance be maintained in the fund at all times and the Metro Council added an additional requirement of $500,000 making the minimum balance now $1,000,000.

Four Percent Reserve Fund - Annual Operating Budget Book:

Contact Information:

Email: Greg McClarin - Capital Investments Manager - (615) 862 - 6509