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File #: 220116    Version: Name:
Type: Bill Status: ENACTED
File created: 2/10/2022 In control: Committee on Finance
On agenda: Final action: 3/10/2022
Title: Approving the amendment of the Fiscal Year 2022 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 2023 through 2027, as amended.
Sponsors: Councilmember Green
Indexes: CAPITAL BUDGET, PHILADELPHIA GAS WORKS
Attachments: 1. 220116 - Exhibit, As Amended.pdf, 2. Bill No. 22011601, As Amended.pdf, 3. CertifiedCopy22011601
Date Ver.Action ByActionResultTallyAction DetailsVideo
3/23/20221 MAYOR SIGNED   Action details Not available
3/10/20221 CITY COUNCIL READ AND PASSEDPass16:0 Action details Not available
3/3/20221 CITY COUNCIL SUSPEND THE RULES OF THE COUNCIL   Action details Not available
3/3/20221 CITY COUNCIL ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR   Action details Not available
3/3/20221 CITY COUNCIL READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR   Action details Not available
3/2/20220 Committee on Finance HEARING NOTICES SENT   Action details Not available
3/2/20220 Committee on Finance HEARING HELD   Action details Not available
3/2/20220 Committee on Finance AMENDED   Action details Not available
3/2/20221 Committee on Finance REPORTED FAVORABLY, RULE SUSPENSION REQUESTED   Action details Not available
2/10/20220 CITY COUNCIL Introduced and Referred   Action details Not available
Title
Approving the amendment of the Fiscal Year 2022 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 2023 through 2027, 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 comprising the ensuing budget year and the five (5) years next following;

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 Philadelphia Gas Commission ("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;

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");

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

WHEREAS, PGW filed with the Gas Commission on January 4, 2021 a proposed Fiscal Year ("FY") 2022 Capital Budget of One Hundred Fifty Million Three Hundred Thirty-One Thousand Dollars ($150,331,000) ("FY 2022 Capital Budget" ...

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