Explanation
BACKGROUND: This ordinance establishes the 2025 Capital Improvement Budget (CIB) in the amount of $2.86 billion. The budget presented herein represents a plan for the expenditure of monies in 2025 for a variety of capital improvement projects.
The new funding amount of the total CIB is $2.04 billion, but $1.75 billion of this amount, or 85.7%, is supported by enterprise revenues and miscellaneous smaller revenues such as internal service fees, not the set-aside of income taxes. Of the total CIB, 818.8 million represents carryover funding.
FISCAL IMPACT: Appropriation authority for new money is granted at the time debt is issued, not with this ordinance.
EMERGENCY DESIGNATION: Emergency action is requested to allow the financial transaction to be posted in the City's capital budgeting system as soon as possible. Up to date financial posting promotes accurate accounting and financial management.
Title
To adopt a Capital Improvements Budget for the twelve months ending December 31, 2025 or until such a time as a new Capital Improvements Budget is adopted, establishing a project budget for capital improvements requiring legislative authorization in 2025; to repeal Ordinance No. 1907-2024, as amended; and to declare an emergency. ($0.00)
Body
WHEREAS, Chapter 333.01 of the Columbus City Codes requires the annual submission of a Capital Improvements Budget to City Council for consideration and adoption; and
WHEREAS, the following sets forth capital projects proposed for the City of Columbus in 2025, the proposed source of funds for each project, and a maximum budget for the 12 months beginning January 1, 2025 and ending December 31, 2025, or until such time as a new capital improvements budget is adopted; and
WHEREAS, an emergency exists in the usual daily operations of the various city departments in that it is immediately necessary to budget capital projects and proposed funding by the adoption of a Capital Improvements Budget for ...
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