1. Who should contribute information in the capital planning process?
A. Department heads B. The governing board C. The public D. All of the above
2. Capital planning should consider:
A. The economy B. Regional concerns C. Technology D. All of the above
3. A local government must have a master plan in place prior to capital planning.
A. True B. False
4. A complete and accurate inventory with information on asset condition and cost must be conducted prior to capital planning.
5. A needs assessment:
A. Should be done within 30 days of the start of the fiscal year B. Requires software obtained at no cost from the State Comptroller's Office C. Must use the criteria set forth in the Local Finance Law D. Should make a realistic appraisal of the demand for current and future capital assets
6. Which item is not part of the capital improvement plan?
A. A statement of each project's purpose B. The method by which assets will be financed C. A brief statement of what other projects or items were considered but left out of the plan D. The estimated cost of the project or acquisition
7. The measure of a local government's ability to repay its debt and still meet its current and future capital, operating and other needs is known as:
A. Period of probable usefulness B. Capital plan C. Debt affordability D. Constitutional debt limit
8. Who should develop the internal controls used in monitoring the capital project?
A. The project engineer B. The chief executive officer C. The governing board D. Nobody. If the project has been properly constructed or the acquisition properly obtained, further monitoring is unnecessary.