The Benefits of Long‐Range Capital Planning—The Virginia Experience

Donald Darr

Public Budgeting & Finance, 1998, vol. 18, issue 3, 42-53

Abstract: In order to be successful in capital outlay decision making, states need to employ certain basic principles and practices. This article provides an overview of capital outlay decision making in the Commonwealth of Virginia. It demonstrates how Virginia has adopted many of these “best practices” into its capital decision making process. Particular emphasis is given to the benefits derived from long‐range capital planning.

Date: 1998
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