The CIP is a five-year financial plan for the acquisition, construction, expansion, or rehabilitation of infrastructure and capital assets. Although capital projects are scheduled throughout the five-year plan, only those projects during the first year of the plan are adopted as part of the City's annual budget.

Flagstaff 2020, a public/private partnership project with community input, produced this statement of a vision of Flagstaff in 2020, and action plans for achieving that vision.