Capital budgeting can help a jurisdiction provide for the orderly and
timely renovation and replacement of public facilities. Ensuring the adequacy
of public infrastructure and quality of public services requires periodically
renovating or replacing the facilities and technology involved. Capital renovation
and replacement projects are too often postponed beyond the time
when they should be undertaken.As a result, the projects end up costing more.
A capital budget can help focus the attention of officials on capital renovation
and replacement needs.