In most communities, capital improvements make up a large percentage of the budget – in some cases, 50% or more of all government expenditures. These projects can range from the normal to the absurd depending on the community.
For this discussion, consider the capital projects that your local community has budgeted for during the next year (this should be easy if you are working on your final paper!).
1. Do the projects seem reasonable given what you know about the community and its needs?
2. Are there any projects within the budget that you find surprising or inappropriate? Why?
3. Do the project costs seem affordable to the community?
4. Who is slated to pay for the project, if you know – current taxpayers (pay as you go) or future taxpayers (funded with debt/future revenue)? +400 words
The capital projects that my local community has budgeted for during the next year appear to be reasonable given what I know about the community and its needs. The most notable project is a new library, which will provide much needed access to educational materials and resources in the area. Other projects include improvements to public parks and facilities around town, as well as upgrades to local roads and infrastructure. While these improvements are likely necessary and welcome additions to our town, there are still some projects within the budget that I find surprising or inappropriate.
For example, one of the projects is an upgrade of a local sports stadium complete with modern amenities such as upgraded seating, improved lighting, and a state-of-the art sound system. While this improvement may benefit those who enjoy attending sporting events at the venue, it seems more like a luxury than an essential service for residents of our community. Additionally, while it can be argued that such an improvement could potentially generate revenue from ticket sales and concessions in future years – it is unclear if this return on investment would offset the cost of upgrading said facility in any meaningful way over time.
The costs associated with many of these projects also appear affordable for our community at large; most of them can be funded through existing tax revenues or through debt financing should additional funds need to be allocated for completion purposes. In either case however – current taxpayers (pay as you go) will ultimately foot most (if not all) of the bill rather than future taxpayers being asked to pay down debts incurred from these expenditures in later years (funded with debt/future revenue). Given this scenario – citizens should consider carefully whether they feel comfortable supporting any particular project before investing their hard earned money into such endeavors!