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File #: 190384    Version: 0 Name:
Type: Bill Status: ENACTED
File created: 5/9/2019 In control: Committee on Finance
On agenda: Final action: 6/20/2019
Title: Approving the amendment of the Fiscal Year 2018 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 the receipt of the Revised Forecast of Capital Budgets for Fiscal Years 2019 through 2023, as amended.
Sponsors: Councilmember Green
Indexes: PHILADELPHIA GAS WORKS
Attachments: 1. 190384 - Exhibit 1, As Introduced.pdf, 2. Bill No. 19038400.pdf, 3. CertifiedCopy19038400
Date Ver.Action ByActionResultTallyAction DetailsVideo
7/24/20190 MAYOR SIGNED   Action details Not available
6/20/20190 CITY COUNCIL     Not available Not available
6/13/20190 CITY COUNCIL SUSPEND THE RULES OF THE COUNCIL   Action details Not available
6/13/20190 CITY COUNCIL ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR   Action details Not available
6/13/20190 CITY COUNCIL READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR   Action details Not available
6/10/20190 Committee on Finance     Not available Not available
6/10/20190 Committee on Finance     Not available Not available
6/10/20190 Committee on Finance     Not available Not available
5/9/20190 CITY COUNCIL     Not available Not available
Title
Approving the amendment of the Fiscal Year 2018 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 the receipt of the Revised Forecast of Capital Budgets for Fiscal Years 2019 through 2023, as amended.
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 next following 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 the Council of the City of Philadelphia ("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 Philadelphia Gas Commission ("Gas Commission") on January 3, 2017 a proposed Fiscal Year ("FY") 2018 Capital Budget of one hundred fifteen million ninety-nine thousand dollars ($115,099,000) ("FY 2018 Capit...

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