The cities of Grapevine, Colleyville and Southlake recently adopted annual budgets that will help each city accommodate for growth and aging facilities. Transportation remains a top project for each of the cities, with most of a city’s improvement funds going to road projects and transportation initiatives.
Capital improvement project, or CIP, funds are approved in a city’s annual budget and include the anticipated capital project costs for the next five fiscal years. Colleyville Assistant City Manager Adrienne Lothery defined a CIP for Colleyville as a project with a budget of at least $50,000 and with a useful life of at least five years.
Colleyville and Southlake adopted CIP budgets funded with cash in the fiscal year 2018-19 budget, and Grapevine has funded most of its capital projects through bond sales.