Title
Adoption of the Tentative 2023-24 Capital Funds Budget (Ordinance S-49791)
Description
An ordinance (Attachment A) adopting the tentative Capital Funds Budget for the City of Phoenix for the Fiscal Year 2023-24.
Report
Summary
This adopts the tentative 2023-24 Capital Funds Budget for the fiscal year beginning July 1, 2023, and ending June 30, 2024. The Capital Funds Budget 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.
Final adoption is scheduled for June 14, 2023.
Concurrence/Previous Council Action
The 2023-24 Capital Funds Budget is included in the Five-Year Capital Improvement Program resolution, also requested for Council approval on the May 31, 2023, Formal Agenda and complies with requirements set forth in the City Charter and Code and State Statutes.
Department
Responsible Department
This item is submitted by City Manager Jeffrey Barton and the Budget and Research Department.