No Money for New Capital Projects, City Says | News

No Money for New Capital Projects, City Says | News

Norman City Council faces a potential shortfall for some capital projects in the capital fund amid continued revenue challenges, according to city officials.

In a Tuesday meeting on the investment fund and financial reporting, the city’s chief financial officer, Anthony Francisco, told the council that the budget for new pay-as-you-go projects is expected to be – $ 650,000 by the end. for fiscal year 2021 and $ 471,000 for the following year. The forecast for the fiscal year ending in 2023 is in the red with a projection of $ 1.4 million for new pay-as-you-go projects.

“If the council wants to add projects, beyond what we are …

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