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51 <br /> 2.010 "Annual Comprehensive Financial Report" ("ACFR")shall mean the report prepared by <br /> governmental entities that complies with the accounting regulations promulgated by the <br /> Governmental Accounting Standards Board(GASB). <br /> 2.011 "Orange County Transit Annual Work Program"or"Work Program"shall mean the <br /> comprehensive annual program for transit capital and operations presented by the SWG (see <br /> 2.034)which shall include all of the separate components of: <br /> a. Annual Operating Budget Ordinance.This shall be supplied for the Orange Transit major <br /> operating fund which will appropriate funds for the operation,administration,and <br /> implementation of projects identified in the Work Program as operating projects; <br /> b. Annual Tax District administration budget for the Orange Transit major operating and <br /> capital fund; <br /> c. Multi-Year Capital Improvement Plan CIP supplied for the Orange Transit major capital <br /> fund that clearly identifies specific projects, project sponsors responsible for <br /> undertaking these projects, project funding sources, and project expenditures. (NOTE: <br /> The Multi-year CIP shall be updated annually to coincide with the annual capital budget <br /> always being the first year of appropriation of funding for capital projects identified in <br /> the CIP.The Multi-year CIP shall be coordinated with the Metropolitan Transportation <br /> Plan,Transportation Improvement Program, and annual program of projects developed <br /> and maintained by the DCHC MPO designated recipient of federal formula transit grants <br /> so as to be consistent with submittal deadlines for the Transportation Improvement <br /> Program and the horizon years of the Metropolitan Transportation Plan.); <br /> d. Annual Capital Budget Ordinance supplied for the Orange Transit major capital fund that <br /> allocates financial resources to specific project sponsors for specific projects and <br /> represents the current year of appropriation of funding for capital projects identified in <br /> the Multi-Year CIP; <br /> e. Annual Operating Program(as defined supra.); <br /> f. Adjustment of the Current Orange Transit Financial Plan and financial model <br /> assumptions and corresponding update of the planning horizon of Orange County <br /> Transit Multi-Year Vision Plan future projects not included in the current Multi-year CIP. <br /> The Parties shall use good faith efforts to align planning horizon year with the horizon <br /> year of the current DCHC MPO MTP.The Financial Model shall contain agreed upon <br /> financial assumptions of the SWG (and supporting subcommittees as designated)for the <br /> Orange County Transit Annual Work Program revenues involving federal,state,and local <br /> sources and multi-year capital and operating costs including liquidity targets and debt <br /> ratios relevant to rating agency metrics; <br /> g. Multi-Year Capital Funding Agreements or Global Agreements; and <br /> h. Multi-year Operating Agreements or Global Agreements. <br /> 2.012 "Dedicated Local Transit Funding Sources"shall be defined as alt revenues derived from transit <br /> funding sources in support of the Orange County Transit Multi-Year Vision Plan,which shall <br /> include, but not limited to(for potential future need): <br /> a. Article 43 Half-Cent(0.5 percent) Sales and Use Tax.This is the Y2 percent local option <br /> sales and use tax as defined by N.C.G.S 105--508; <br />