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Ordinance amending and supplementing the Pittsburgh Code of Ordinances, Title Two: Fiscal; Article I: Administration; Chapter 218: Capital Budget and Capital Improvement Plan, by revising Sections 218.02: DEFINITIONS, 218.04?CAPITAL PROGRAM FACILITATION COMMITTEE PROCESS, 218.05?PROJECT AUTHORIZATION, and 218.08?PROJECT AND BUDGET REPORTING so as to add equity and project readiness to scoring, and expand the City's provisions for the closure of capital project accounts included as part of the City Controller's "Annual Accounting Close and Report" so as to recycle capital funds faster.
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The Council of the City of Pittsburgh hereby enacts as follows:
Section 1.
? 218.02?DEFINITIONS.
The following definitions shall apply to all parts of this Chapter:
(1) Capital budget. The annual budget of the City of Pittsburgh, as required by Article 5, Section 502 of the Home Rule Charter, composedcomprised of capital projects, special revenue projects, and intergovernmental projects.
(2) Capital expenditure. City monies expended, or proposed to be expended, in the Capital Budget on a capital project, a special revenue project, or an intergovernmental project.
(3) Capital project. Any project funded by public monies to design, build, restore, retain, or purchase any City-owned or maintained asset that is expected to provide a long-term public benefit or propose physical improvements in an element of the City's infrastructure. Capital projects shall have a minimum value of fifty thousand dollars ($50,000.00) and a minimum useful life of five (5) years. Capital projects financed through debt should have a minimum useful life no shorter than the length of debt service. Capital projects that have a shorter minimum useful life should be funded with PAYGO funds.
a. Minimum useful life. The minimum duration for which a capital project is suitable for the function originally designated. Minimum useful life shall be determined from the City's prior history with...
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