Capital Expenditures

Summary of the Sources of Funds:

Each budget year, the City focuses on finding ways to provide additional funding for capital projects and other one-time priorities. This is often accomplished by allocating previous year surplus, which is not reflected in the graph below. In November 2017, the voters in the City of Springfield elected to continue the twenty-seven cent property tax that will allow the City to use the funds generated for municipal purposes, including capital. The total budgeted expenditures for capital in FY2024 is $63,874,249. These expenditures are funded by the following funding sources:

Capital projects that are still in progress at the end of each fiscal year will have the available unspent balance re-appropriated in the next fiscal year. Since the exact amount of unspent project funds are not known at the time the budget is being developed, these ongoing projects are not budgeted as part of the adopted budget.

Summary of Use of Funds:

The $63,874,249 in budgeted capital expenditures is appropriated by the following departments:

Summary of the Use of Funds:

The $63,874,249 in budgeted capital expenditures is appropriated by the following categories: