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(a) At the same time as the time of adoption of the budget by the Board, the Board shall adopt a five (5) year capital program which shall serve as a guide for the planning of capital improvements.
(b) The capital program shall include at least the following information:
(1) A general summary of its contents;
(2) A list of all capital improvements which are recommended to be undertaken, continued, or completed during the next five (5) fiscal years;
(3) Cost estimates and methods and timing of financing the improvements; and
(4) The estimated annual cost of operating and maintaining the improvements.
(c) The Board of Trustees may modify the requirements of a capital improvement program by ordinance.