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City of <br />Pequot AGENDA ITEM #02 <br />Lakes— <br />REPORT TO <br />CITY COUNCIL <br />Report Prepared by: Sandy Peine, City Clerk <br />Date: January 21, 2014 <br />Subiect: Capital Improvement Planning <br />Report: During the year 2013, the City staff has been working <br />on a capital improvement plan. The plan is currently a five-year <br />plan and was presented to the Council during the 2014 budget <br />process. Our capital improvement plan (CIP) is a document <br />designed to anticipate capital improvement expenditures <br />($2,500+) and schedule them over a five to ten year period so <br />that they may be purchased in the most efficient cost effective <br />method possible. <br />As potential expenditures are added to the CIP, the City <br />considers the benefits, cost, alternatives, and impact on <br />operating expenditures. The coordination of capital <br />expenditures is important in achieving the City's goals and for <br />sound financial management. The C[P is designed to be <br />updated on an annual basis. The plan then becomes an ongoing <br />