header-left
Share to Facebook Share to Twitter Bookmark and Share
File #: 200117    Version: 0 Name:
Type: Bill Status: ENACTED
File created: 2/6/2020 In control: Committee on Finance
On agenda: Final action: 2/27/2020
Title: Approving the amendment of the Fiscal Year 2020 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 2021 through 2025, as amended.
Sponsors: Council President Clarke, Councilmember Green
Indexes: PHILADELPHIA GAS WORKS
Attachments: 1. 200117 - Exhibit 1, As Introduced.pdf, 2. CertifiedCopy20011700.pdf
Date Ver.Action ByActionResultTallyAction DetailsVideo
3/11/20200 MAYOR SIGNED   Action details Not available
2/27/20200 CITY COUNCIL READ AND PASSEDPass16:0 Action details Not available
2/20/20200 CITY COUNCIL SUSPEND THE RULES OF THE COUNCIL   Action details Not available
2/20/20200 CITY COUNCIL ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR   Action details Not available
2/20/20200 CITY COUNCIL READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR   Action details Not available
2/18/20200 Committee on Finance     Not available Not available
2/18/20200 Committee on Finance     Not available Not available
2/18/20200 Committee on Finance     Not available Not available
2/6/20200 CITY COUNCIL Introduced and Referred   Action details Not available
Title
Approving the amendment of the Fiscal Year 2020 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 2021 through 2025, as amended.
Body
WHEREAS, Section IV.2(b) of the Agreement between the City of Philadelphia and the Philadelphia Facilities Management Corporation ("PFMC") relating to the management and operation of the Philadelphia Gas Works ("Management Agreement") requires ("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 2, 2019 a proposed Fiscal Year ("FY") 2020 Capital Budget of One Hundred Forty-Nine Million Six Hundred Fifty-Six Thousand Dollars ($149,656,000) ("FY 2020 Capital Budget" or "...

Click here for full text