ORDINANCE approving the creation of a “Contributed Capital Project Fund” with zero beginning fund balance to receive cash funds from any fund sources for the purpose of funding Capital Projects; establishing the sources and uses of the funds therein for the construction, operation, maintenance and support of Capital Projects; authorizing the appropriation and transfer of any and all funds received into the fund for the purposes set out herein and authorizing expenditure consistent with the purpose thereof

The Finance Department recommends the creation of a Contributed Capital Project Fund for Capital Projects (fund 4515). The fund would be used as a mechanism to deposit cash funds for the funding of capital projects. Examples of deposited funds include, but are not limited to, Tax Increment Reinvestment Zone Funds, Council District Service Funds, and General Funds. Capital Project expenditures occur over many months or years and cross fiscal years in many situations. The creation of this fund will allow allocated funding to remain in place for the duration of the projects and assist in the capitalization process.

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Kelly Dowe

Director, Department of Finance

Melissa Dubowski 832-393-9101

Christopher Gonzales 832-393-9072