Understanding Capital Improvements

Download or read book Understanding Capital Improvements written by W.A. Flickinger and published by Page Publishing Inc. This book was released on 2024-06-25 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: All townships, cities, counties, and states perform capital improvements using public funds and, often, additional funding from other governmental agencies. All expenditures are regulated by city or county codification of ordinances, state statutes, or Federal Acquisition Regulations. All capital improvements are subject to audit by the institutions providing the funding. All ordinances, state statutes, and the Federal Acquisition Regulations provide regulations or laws that require specific adherence to many issues in order to maintain funding or be eligible for future funding. Under audit, the governmental agency performing or that has performed the capital improvements must show documentation that exhibits adherence to all the requirements. Unfortunately, the various regulations and laws do not provide the means or methods to document the required compliance. This book provides an understanding of the capital improvement process and various methods of documentation, including specific language within supplied forms and contract front-end documents that will support and provide the necessary documentation showing adherence to the regulations and laws. The proper understanding of the process and documentation may be the difference between a successful audit or a failure and possibly the loss of current or future funding.