(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.