Abstract
This article discusses the process of capital planning and budgeting. Because water and wastewater utilities are the most capital‐intensive sectors in the economy, they require a more significant capital planning effort. Operating budgets and the increasing importance of capital planning and sustainability planning are discussed, along with the role of the finance officer, and the capital improvement plan (CIP). The article states that the fundamental long‐term view of a publicly owned utility should be focused on how future rate increases can be minimized by today's capital and operational decisions.
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