We (Suwanee, GA) do have a CIP review committee that includes our City Manager, Finance Director, and myself (Asst. to City Manager). We developed a project scoring matrix with criteria, such as impact to the operating budget, estimated project life, frequency of use, etc. This allows us to score each project to see how it ranks against other projects.
Once we have scored the projects, we develop the five-year plan. Typically the higher-ranked projects are planned earlier in that time frame. However, a project may be planned earlier if it has an outside funding source and we already have access to the funds, such as a grant, SPLOST, etc. We strive to implement our CIP with pay-as-you-go financing, which for us, means our general fund can generally contribute about $1M each year to funding capital projects. So, the project rankings, coupled with project cost and funding sources, are all considered when we develop the recommended CIP for Council to consider.
The document I've attached has an overview of our CIP process and policies, the scoring matrix we use, the scores we developed for our current CIP so you can get a feel for how it works, and the submittal form that department heads complete for their projects that we work from when scoring the projects.
It's a complex process so feel free to call or e-mail me with specific questions.
Jessica Roth, Assistant to City Manager
City of Suwanee, GA