Title
Adoption of the Final 2024-25 Capital Funds Budget (Ordinance S-50985)
Description
In compliance with requirements of the City Charter and Code and State statutes, this item requests to adopt an ordinance (Attachment A) adopting the final Capital Funds Budget for the City of Phoenix for the fiscal year 2024-25.
Report
Summary
This adopts the final 2024-25 Capital Funds Budget for the fiscal year beginning July 1, 2024, and ending June 30, 2025. This capital funds appropriation will be funded by property tax and revenue supported bond proceeds, federal, state and other participation funds, passenger facility charges, customer facility charges, participation by other governmental entities in certain projects, development impact fees, capital grants, capital reserves, solid waste remediation funds and other capital funding sources.
Concurrence/Previous Council Action
The final Capital Funds Budget ordinance reflects actions taken by Council at the May 29, 2024, Formal meeting to adopt the tentative budget ordinances and is consistent with the Five-Year Capital Improvement Program resolution approved by Council at the May 29, 2024, Formal meeting.
Department
Responsible Department
This item is submitted by City Manager Jeffrey Barton and the Budget and Research Department.