Capital Projects Funds
Fiscal Year 2022/23
Funds for capital projects are created to account for the purchase or construction of major capital facilities which are not financed by General, Special Revenue, or Enterprise Funds. Voter-authorized bonds, certificates of participation proceeds, intergovernmental agreements, and impact fees are the source of funds for these funds.
Capital Projects Funds By Fund FY2022/23
The funds below comprise Capital Projects Funds -
General Obligation Parks and Connections Improvement Fund
On November 6, 2018, voters approved Proposition 407: Parks and Connections, a $225.0 million General Obligation bond package for capital improvements dedicated to City park amenities and bicycle and pedestrian infrastructure. The first bond series were issued in the Summer of 2020 in the amount of $57.0 million. These proceeds continue to support implementation of the Parks and Connections Program. Fiscal Year 2021/22 projects added splash pads, resurfaced walking paths, constructed bicycle boulevards on Tucson’s southside, and began design for several park-wide projects and the second set of bicycle boulevards in midtown.
The budget for Fiscal Year 2022/23 is $42.4 million which is an increase of $2.4 million from the Fiscal Year 2021/22 estimated amount. This includes delivery of bicycle boulevards and implementation of several large park projects.
General Obligation Parks and Connections Improvement Fund By Category FY2020/21 - FY2022/23
Capital Improvement Fund
The Capital Improvement Fund accounts for capital projects reimbursed by governmental agencies such as Pima County and Pima Association of Governments (PAG). Typical projects to be reimbursed by other agencies are street and highway and park improvements. The budgeted revenues for Fiscal Year 2022/23 are $53.9 million, which is a increase of $7.3 million from the actual Fiscal Year 2021/22 amount.
Capital Improvement Fund By Category FY2020/21 - FY2022/23
Development Fee Fund
The Development Fee Fund accounts for the capital projects funded by impact fees. Impact fees are charged to new development as a means of paying for the facilities and infrastructure needed to serve development. Currently, the City of Tucson assesses impact fees for water, roads, parks, police, and fire. Impact fees for water are accounted for in the Tucson Water Utility Fund.
Budgeted roads, parks, police, and fire revenues for Fiscal Year 2022/23 are $8.7 million, which is a decrease of $5.0 million from the estimated Fiscal Year 2021/22 amount.
Development Fee Fund By Category FY2020/21 - FY2022/23
Regional Transportation Authority (RTA) Fund
The RTA Fund accounts for the capital projects approved with funding from the RTA. The RTA plan is funded by a countywide transaction half a cent sales tax approved by the voters on May 16, 2006, which is collected by the State of Arizona. The State, in turn, transfers the collected funds to a Regional Transportation authorized fund account managed by the Pima Association of Governments (PAG), the region’s metropolitan planning organization. The tax will fund the vote-approved RTA plan through Fiscal Year 2025/26.
Revenues fluctuate widely from one year to the next, depending on status of projects. Projects funded with RTA funds include design and improvements along major arterial and collector roadways within the City of Tucson. The improvements include street widening, storm drains, sidewalks, street lighting, bike paths and landscaping.