Having adequate public infrastructure is important to the effective and efficient delivery of services to the public. The acquisition, construction, expansion, maintenance, rehabilitation and upgrading of infrastructure results in a major demand on the financial resources of any government that must be planned for in advance and must be comprehensive. For these reasons, Virginia Beach annually develops a six-year Capital Improvement Program (CIP) to define needs, set priorities, plan funding and anticipate impacts of proposed capital projects on the operating budget of the government.
Effective July 1, 2014, the Public Utilities will initiate a fourth year of phased sewer rate increases to support the capital investment and operational impacts of complying with the regional consent order. The combined water and sewer rates were established to support a $40 million annual capital improvement program that is supported by a combination of pay-as-you-go funding, net assets of the utility fund, and utility bonds. Additional information can be found in the Department of Public Utilities’ section of the City’s FY 2014-15 operating budget and in the Water and Sewer sections of the Capital Improvement Program.