The purpose of this report is to establish interim spending authorities for City Programs and Agencies before the 2023 Operating and Capital Budgets are approved by City Council. This will provide the required authority to continue to deliver current services, meet existing contractual commitments, and continue work on previously approved capital projects prior to 2023 budget approvals. The 2023 Tax and Rate Supported Operating and Capital Budgets are expected to be approved in late February or early March of 2023. The budgets will then be uploaded to the City's financial system by the end of March or early April for City programs and Agencies, providing authority to spend or commit against 2023 approved budgets. It should be noted that no funding for new/enhanced services or new capital projects is included in the recommended 2023 Interim Spending Authorities contained in this report. Any consideration for new funding is subject to the 2023 Budget process. The 2023 Tax and Rate Supported Interim Operating Spending Authorities include $7.488 billion in gross expenditures with a net funding requirement of $6.853 billion. The 2023 Tax and Rate Supported Interim Capital Spending Authorities total $3.133 billion, requiring debenture financing of $0.851 billion.
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