Capital Improvement Program (CIP)

Capital improvements are major purchases and/or construction projects that cannot be financed in one year as part of the regular budgeting process because of their expense. They include street construction and reconstruction, storm sewers, water mains, sanitary sewers, and the purchases of large pieces of equipment, such as dump trucks and motor graders.

Capital Improvement Program cover

On Dec 6, 2016, the City Council approved the 2017-2021 Capital Improvement Program.

The Capital Improvement Program (CIP) document, which is updated annually and adopted by the City Council each December, schedules these expenditures for the upcoming five years. It also includes proposed financing for these expenditures, such as the proceeds of General Obligation Bonds and Enterprise Fund operations.

General Obligation Bonds are a city’s primary means of borrowing money. The bonds are "serial," meaning that various amounts of principal are paid off in each year of the bond term. The term of the bonds varies with the City’s needs and the interest rate varies with market conditions at the time the bond is issued.