Toronto Water 2020 Year End Capital Budget and 2021-2030 Capital Plan Adjustments

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The decision

2021-05-05 · Toronto City Council · adopted

As filed

City Council on May 5 and 6, 2021, adopted the following: 1. City Council authorize the reallocation of cashflows in the amount of $61.129 million in 2020 for acceleration and deferral of projects within Toronto Water's 2020 Capital Budget and 2021-2029 Capital Plan, with offsetting acceleration and deferral cashflow reallocation adjustments in the equal amount in 2021, 2022 and 2023 within Toronto Water's Approved 2021 Capital Budget and 2022-2030 Capital Plan to align with project delivery, as presented in Schedule A (Parts A and B) to the report (April 1, 2021) from the General Manager, Toronto Water, with a zero Budget impact.

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2. City Council authorize the reallocation of 2020 cashflows and project costs in Toronto Water's 2020 Capital Budget and 2021-2029 Capital Plan in the amount of $4.135 million from projects that have been completed under budget to those requiring additional funding in the same amount as presented in Schedule A (Part C) to the report (April 1, 2021) from the General Manager, Toronto Water, with a zero Budget impact.

On the agenda

As the city filed it

This report requests City Council's authority to amend Toronto Water's Approved 2020 Capital Budget by adjusting project costs and cash flows to align with year-end expenditures and project progress. The adjustments will have a zero dollar impact on the 2020 Capital Budget. This report requests City Council's authority to amend Toronto Water's Approved 2021 Capital Budget and 2022-2030 Capital Plan by adjusting project costs and cashflows contained within the Budget and Plan, respectively, to align the 2021 Capital Budget and 2022-2030 Capital Plan with the final 2020 capital expenditures and project progress.

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The adjustments will have a zero dollar impact on the 2021 Capital Budget and 2022-2030 Capital Plan and will align the budget and plan with Toronto Water's capital project delivery schedule and program requirements.

Staff recommended

The General Manager, Toronto Water recommends that: 1. City Council authorize the reallocation of cashflows in the amount of $61.129 million in 2020 for acceleration and deferral of projects within Toronto Water's approved 2020 Capital Budget and 2021-2029 Capital Plan, with offsetting acceleration and deferral cashflow reallocation adjustments in the equal amount in 2021, 2022 and 2023 within Toronto Water's Approved 2021 Capital Budget and 2022-2030 Capital Plan to align with project delivery, as presented in Schedule A (Parts A and B), with a zero Budget impact.

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2. City Council authorize the reallocation of 2020 cashflows and project costs in Toronto Water's approved 2020 Capital Budget and 2021-2029 Capital Plan in the amount of $4.135 million from projects that have been completed under budget to those requiring additional funding in the same amount as presented in Schedule A (Part C), with a zero Budget impact.

Considered

2021-04-29 · Executive Committee · adopted
Decision as filed
The Executive Committee recommends that: 1. City Council authorize the reallocation of cashflows in the amount of $61.129 million in 2020 for acceleration and deferral of projects within Toronto Water's 2020 Capital Budget and 2021-2029 Capital Plan, with offsetting acceleration and deferral cashflow reallocation adjustments in the equal amount in 2021, 2022 and 2023 within Toronto Water's Approved 2021 Capital Budget and 2022-2030 Capital Plan to align with project delivery, as presented in Schedule A (Parts A and B) to the report (April 1, 2021) from the General Manager, Toronto Water, with a zero Budget impact.
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2. City Council authorize the reallocation of 2020 cashflows and project costs in Toronto Water's 2020 Capital Budget and 2021-2029 Capital Plan in the amount of $4.135 million from projects that have been completed under budget to those requiring additional funding in the same amount as presented in Schedule A (Part C) to the report (April 1, 2021) from the General Manager, Toronto Water, with a zero Budget impact.
2021-05-05 · Toronto City Council · adopted

On the record

The item as the City filed it

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