2023 Development Charge Deferred Revenue Activity and Balances

This is offset by $466.9 million in earned revenue that was recognized to fund growth-related capital expenditures. As a result of these activities, the DC deferred revenue balance increased by $391.2 million from the prior year to reach $3,106.0 million at December 31, 2023. This amount is reported as deferred revenue in the City's audited consolidated financial statements. The 10-Year Capital Budget and Plan includes $6,393.7 million in DC commitments and obligations to be funded through the City's DC deferred revenue balances and forecasted future DC collections. Additionally, there is over $6 billion in further DC eligible projects that are not currently included in the City's 10-Year Capital Plan and will continue to be considered for inclusion as part of future year capital budget processes.