November 26, 2013

RAD Approves $91.2 Million Budget for 2014

News Releases

(PITTSBURGH)—The Board of Directors of the Allegheny Regional Asset District today approved a 2014 budget that includes grants to 91 regional assets totaling $91.2 million. The budget is a $1.5 million increase from the 2013 budget and a $947,750 increase from the preliminary budget released on October 1, 2013. While most of the increase since then comes in the form of discretionary capital grants, there will also be significant additional funds for assets to improve the accessibility of their facilities and programs. The budget is the first to top $90 million and brings RAD’s total investment in regional assets to just under $1.5 billion over its 20 year history.

The Allocations Committee, which recommended the budget in the form of a report, noted that this action marks the 20th budget adopted by the District.  "Together with the efforts of the asset board members, staff and volunteers along with the support of the philanthropic community and other government agencies and individuals, RAD will continue to look for opportunities to sustain and improve the quality of life in the region," the Committee said.

In additional action, the Board adopted new policies on accessibility for year 2015 funding, and approved the renewal of agreements with the nine contractual assets who have multi-year agreements with the District

A detailed listing of the approved allocations is included in the full press release.