2019 Interim Operating and Capital Estimates

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The decision

2018-12-04 · Toronto City Council · adopted

As filed

City Council on December 4, 5 and 13, 2018, adopted the following: 1. Council approve the 2019 Interim Operating Estimates totalling $3.670 billion as detailed by City Program and Agency in Appendix 1 to the report (December 3, 2018) from the Chief Financial Officer. 2. Council approve the 2019 Interim Capital Estimates totalling $1.634 billion in gross expenditures and $511.9 million in debt funding as detailed by City

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Program and Agency in Appendix 2 to the report (December 3, 2018) from the Chief Financial Officer, with the balance financed by Provincial and Federal funding of $332.2 million; Reserve funding of $468.9 million; Development Charges funding of $127.9 million and Third Party and Other funding of $192.9 million.

On the agenda

As the city filed it

The 2019 Operating and Capital Budgets are scheduled for Council approval in mid- March of 2019. The purpose of this report is to establish the 2019 Interim Operating and Capital Estimates in order to enable City Programs and Agencies to have the necessary spending authority to deliver current services, meet existing contractual commitments and to continue work on previously approved capital projects until the 2019 Operating and Capital Budgets are approved by City Council.

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The 2019 Interim Operating Estimates are $3.660 billion gross and require cash outflow funding of $3.670 billion. The 2019 Interim Capital Estimates total $1.634 billion and require debenture financing of $511.9 million.

Staff recommended

The Chief Financial Officer recommends that: 1. Council approve the 2019 Interim Operating Estimates totalling $3.670 billion as detailed by City Program and Agency in Appendix 1 attached. 2. Council approve the 2019 Interim Capital Estimates totalling $1.634 billion in gross expenditures and $511.9 million in debt funding as detailed by City Program and Agency in Appendix 2 attached, with the balance financed by Provincial

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and Federal funding of $332.2 million; Reserve funding of $468.9 million; Development Charges funding of $127.9 million and Third Party and Other funding of $192.9 million.

On the record

The item as the City filed it

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