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File #: 140346    Version: 0 Name:
Type: Bill Status: ENACTED
File created: 4/24/2014 In control: Committee on Finance
On agenda: Final action: 6/12/2014
Title: Approving the Fiscal Year 2015 Capital Budget providing for expenditures for the capital purposes of the Philadelphia Gas Works (including the supplying of funds in connection therewith) subject to certain constraints and conditions, and acknowledging receipt of the Forecast of Capital Budgets for Fiscal Years 2016 through 2020.
Sponsors: Councilmember Tasco
Indexes: PHILADELPHIA GAS WORKS
Attachments: 1. 140346 - Exhibit 1, As Introduced.pdf, 2. 140346 - Exhibit 2, As Introduced.pdf, 3. CertifiedCopy14034600.pdf
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
6/19/20140 MAYOR SIGNED   Action details Meeting details Not available
6/12/20140 CITY COUNCIL READ AND PASSEDPass16:0 Action details Meeting details Not available
6/5/20140 CITY COUNCIL SUSPEND THE RULES OF THE COUNCILPass  Action details Meeting details Not available
6/5/20140 CITY COUNCIL ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR   Action details Meeting details Not available
6/5/20140 CITY COUNCIL ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR   Action details Meeting details Not available
5/22/20140 Committee on Finance HEARING NOTICES SENT   Action details Meeting details Not available
5/22/20140 Committee on Finance HEARING HELD   Action details Meeting details Not available
5/22/20140 Committee on Finance REPORTED FAVORABLY, RULE SUSPENSION REQUESTED   Action details Meeting details Not available
4/24/20140 CITY COUNCIL Introduced and ReferredPass  Action details Meeting details Not available
Title
Approving the Fiscal Year 2015 Capital Budget providing for expenditures for the capital purposes of the Philadelphia Gas Works (including the supplying of funds in connection therewith) subject to certain constraints and conditions, and acknowledging receipt of the Forecast of Capital Budgets for Fiscal Years 2016 through 2020.

Body
WHEREAS, Section IV.2.b. of the Agreement Between The City Of Philadelphia And The Philadelphia Facilities Management Corporation For The Management And Operation Of The Philadelphia Gas Works ("Management Agreement") requires the Philadelphia Facilities Management Corporation ("PFMC") to prepare annually for the Philadelphia Gas Works ("PGW") a proposed capital budget for the ensuing year and a forecast for the six (6) years comprising the ensuing budget year and the five (5) years next following; and

WHEREAS, Section IV.2.b. of the Management Agreement also requires that the proposed capital budget and forecast be submitted to the Director of Finance and the Gas Commission for their review and for submission of said budget and forecast, together with their recommendations thereon, to City Council for its approval; and

WHEREAS, Section IV.2.b. of the Management Agreement further requires that the proposed capital budget and forecast include a showing of the amounts needed and how the funds required are to be supplied as between funds generated within the business through charges to customers or otherwise and funds to be obtained through capital loans ("Financing Plan"); and

WHEREAS, Section IV.2.c. of the Management Agreement requires that all PGW expenditures be made pursuant to approved budgets; and

WHEREAS, PGW filed with the Gas Commission on January 2, 2014 a proposed Fiscal Year ("FY") 2015 Capital Budget of eighty nine million two hundred forty nine thousand dollars ($89,249,000) and a Five Year Forecast of Capital Budgets (FY 2016 - FY 2020); and

WHEREAS, The Gas Commission's review of said Bu...

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