The Capital Improvement Plan (CIP), is a short-range 5 year plan, usually four to ten years, which identifies capital projects and equipment purchases, provides a planning schedule and identifies options for financing the plan. The plan provides a link between the city’s comprehensive and strategic plans and the city’s annual budget.
A Comprehensive Annual Financial Report (CAFR) is a set of government financial statements comprising the financial report of the municipality that complies with the accounting requirements promulgated by the Governmental Accounting Standards Board (GASB).
The Popular Annual Financial Report (PAFR) is a brief summary of the city’s Comprehensive Annual Financial Report (CAFR). The purpose of this information is to inform residents of the city’s financial activity. This information does not replace the CAFR; it is meant as a supplement to provide a better understanding of the city’s overall financial condition in a concise, easy-to-read format.