Capital Improvement Plan

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Dare County’s annual budget process includes development of a five-year Capital Improvement Plan (CIP). The CIP is a plan for the financing of major projects that represent significant contributions to the County’s overall inventory of physical assets. A capital improvement project is a project of a nonrecurring nature with a cost of $50,000 or more and an estimated service life of 5 years or more.

The County’s one percent realty transfer tax is the revenue source for the Capital Reserve Special Revenue Fund. The Capital Reserve Fund is the funding source for pay-as-you-go financing and for debt service payments for debt financed projects in the CIP.