That is less than the $44 million city administrators requested and more than the $32 million Republicans preferred.
City Director of Administration Ben Barnes said he believed $44 million was sustainable and necessary to meet the capital needs of the city. The amount he requested, he said, would not affect the city's AAA bond rating.
Finance board members, however, thought it was too high.
"We feel we need to better control spending on the capital side," board Chairwoman Mary Lou Rinaldi, a Democrat, said in an interview after the meeting.