Village Trustees met on May 11, 2016, to review a newly established ten-year financial plan that ensures adequate funds are committed for preservation, maintenance, improvement, or replacement of Somers buildings, vehicles, roads, utilities, and equipment. This differs from prior years where annual budgets addressed primarily current and short-term needs.
The ten-year plan establishes priorities and anticipates contingencies that relate to the annual operating budget. This plan also serves as a tool for determining what improvements are necessary relating to developers, intergovernmental partners, and our residential communities. The Capital Improvement Plan (CIP) will be reviewed and updated annually by the Village Board as part of the budget process.
The new plan will undertake several revisions and reviews before the Village Trustees vote to approve. It is expected the CIP will be implemented during the 2017 budget process. Upon approval, a copy of the complete plan will be posted on Somers.org.