As part of the annual budget process, the County reassesses its capital programming needs concerning capital improvements for facilities, capital equipment purchases, and transportation & highway planning. This annual process reviews the County’s present, mid-term, and long-term capital needs which is essential for long-term fiscal planning. This process aids the County in determining its ability and willingness to issue new taxpayer-funded debt and operating (Pay-Go) financing for capital expenditures. Additionally, legacy debt obligations, operating budget priorities, and debt service costs are taken into consideration when determining appropriate capital funding types/levels. Once a prudent level of financing is identified, the funding is matched to the projects that address critical needs as determined by the capital renewal and deferred maintenance assessment.
Cook County’s proposed FY2020 Capital Budget recommends $492.0 million in Capital Investments:
- $283.5 million for the Capital Improvement Program (CIP) for County facilities. Capital Improvement projects are long-term improvement projects that deal with the acquisition, enhancement, demolition and renewal of county facilities and infrastructure.
- $105.4 million for the Transportation & Highway Program (THP) for the preservation, modernization, and expansion of County roadways, bridges, traffic signals, and highways.
- $103.1 million for the Capital Equipment Program (CEP) for upgrading or replacing outdated technology, institutional equipment, and vehicles that have at least a 5-year useful life and cost greater than $5,000.
An alphabetical list of budget related terms with helpful explanations can be found in our glossary.