Capital facilities and adequate infrastructure are critical for the County’s continuing growth. Wake County has a proud legacy of long-term planning to serve current and future generations of citizens. The FY 2015–2021 Community Improvement Plan (CIP) is long-term oriented, anticipates future needs and supports responsible stewardship of existing facilities.

The FY 2015–2021 CIP, totaling $1.4 billion, represents a continuum of projects. The CIP incorporates the new $983.4 million CIP 2013 building program for WCPSS, for which voters approved $810 million of general obligation bonds in October 2013. It also includes $292.8 million of County projects, primarily funded by dollars transferred from the general fund. The County CIP allocates dollars for high-priority items for public safety, such as EMS stations, 800 MHz and CAD upgrades, as well as allows the County to maintain its investment in its current assets for existing County buildings and technology infrastructure.
The County's Financial Planning Model is used to guide the County's approach to financing capital projects while adhering to policies and guidelines to maintain the County's triple-A bond rating. Included in the financial planning model are the debt and capital assumptions for the County's issuance of debt and cash funding of capital projects. It includes the $810 million of bonds to be issued for WCPSS CIP 2013, $95.75 million of bonds remaining for Wake Tech's 2012 building program, and $44.7 million of remaining library bonds approved by the voters in October 2007. Also included are cash funding of capital projects for WCPSS, Wake Tech and the County to maintain the County's guideline of generally no more than 80% debt funding of capital projects in any given year. The financial model includes the 4.4 cents recommended tax increase to support the debt and capital costs for CIP 2013. It also includes debt and cash funding capacity of projects in FY 2018–2024 that can be done without an additional property tax increase.
An update of the County’s long-term financial model and recommended FY 2015–2021 CIP was presented to the Board of Commissioners at its May 12, 2014, work session.