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December 1, 2014

RAD Approves $93.7 Million Budget for 2015

News Releases

PITTSBURGH – The Board of Directors of the Allegheny Regional Asset District today approved a 2015 budget totaling $93.7 million, which is $2.5 million more than the 2014 adopted budget.  The final budget provides grants to 90 organizations and is $48,500 higher than the preliminary budget released in October. (Read full press release here, in pdf).

Included in the budget is $4.4 million in discretionary capital grants, including several key grants that will provide important leverage for other funding: the Pittsburgh Symphony grant will complete the local match needed for a state grant of $1.5 for accessibility and audience support facilities at Heinz Hall; the Frick Art and Historical Center is completing a $15 million renovation, part of which requires local match. These grants, along with increased funding to the Heinz History Center and WQED, join the prior recommendations for major capital investments at the Zoo, Phipps, Aviary, regional parks and trail projects.

The budget would be funded by an estimated $90 million in new sales tax receipts with the balance coming from the District’s grant stabilization fund.  According to a report by the Allocations Committee, which recommends the budget, an examination of revenue since the preliminary budget was released indicates that revenue estimates are sufficient to support the 2015 plan.

In the 2015 budget, libraries will continue to receive the largest share of funds at 32%; parks and trails 30%; sports facilities and the convention center 15%; the Zoo, Phipps and Aviary are slated to receive 9%; arts and cultural organizations 11%, and transit would see 3% of the spending. Funding for District operations would remain at under 1% of budget.

A detailed listing of the approved allocations is available here (in pdf).  Additional information is available on the RAD’s web page radworkshere.org, or by calling the RAD office at (412) 227-1900.