Michigan Public Act 63 of 2011 introduced the Economic Vitality Incentive Program (EVIP) as a component of the State Shared Revenue Program. EVIP had three components that eligible municipalities reported on.
In 2014 the program was revised and became the City, Village, and Township Revenue Sharing (CVTRS) program. Communities that are eligible now only report on the category of Accountability and Transparency and must present a Budget Projection and a Debt Service Schedule.
The CVTRS information presented supplements the financial data that Waterford Township has previously presented through the annual budgets and Comprehensive Annual Financial Reports.