Toronto Water 2021 Year End Capital Budget and 2022-2031 Capital Plan Adjustments

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The decision

2022-05-11 · Toronto City Council · adopted

As filed

City Council on May 11 and 12, 2022, adopted the following: 1. City Council authorize the reallocation of cashflows in the amount of $51.708 million in 2021 for acceleration and deferral of projects within Toronto Water's approved 2021 Capital Budget and 2022-2030 Capital Plan, with offsetting acceleration and deferral cashflow reallocation adjustments in the equal amount in 2022, 2023 and 2024 within the 2022 Approved Capital Budget and 2023-2031 Capital Plan for Toronto Water to align with project delivery, as presented in Schedule A (Part A and B) to the report (March 30, 2022) from the General Manager, Toronto Water, with a zero Budget impact.

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2. City Council authorize the reallocation of 2021 cashflows and project costs in the 2021 Approved Capital Budget and 2022-2030 Capital Plan for Toronto Water in the amount of $2.772 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 (March 30, 2022) from the General Manager, Toronto Water, with a zero Budget impact.

On the agenda

As the city filed it

At its meeting on April 13, 2022, the Budget Committee considered Item BU46.1 and made recommendations to City Council. Summary from the report (March 30, 2022) from the General Manager, Toronto Water: This report requests City Council's authority to amend Toronto Water's Approved 2021 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 2021 Capital Budget.

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This report requests City Council's authority to amend Toronto Water's Approved 2022 Capital Budget and 2023-2031 Capital Plan by adjusting project costs and cashflows contained within the Budget and Plan, respectively, to align the 2022 Capital Budget and 2023-2031 Capital Plan with the final 2021 capital expenditures and project progress. The adjustments will have a zero dollar impact on the 2022 Capital Budget and 2023-2031 Capital Plan and will align the budget and plan with Toronto Water's capital project delivery schedule and program requirements.

Staff recommended

The Budget Committee recommends that: 1. City Council authorize the reallocation of cashflows in the amount of $51.708 million in 2021 for acceleration and deferral of projects within Toronto Water's approved 2021 Capital Budget and 2022-2030 Capital Plan, with offsetting acceleration and deferral cashflow reallocation adjustments in the equal amount in 2022, 2023 and 2024 within Toronto Water's Approved 2022 Capital Budget and 2023-2031 Capital Plan to align with project delivery, as presented in Schedule A (Part A and B) to the report (March 30, 2022) from the General Manager, Toronto Water, with a zero Budget impact.

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2. City Council authorize the reallocation of 2021 cashflows and project costs in Toronto Water's approved 2021 Capital Budget and 2022-2030 Capital Plan in the amount of $2.772 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 (March 30, 2022) from the General Manager, Toronto Water, with a zero Budget impact.

Considered

2022-05-04 · Executive Committee · adopted
Decision as filed
The Executive Committee recommends that: 1. City Council authorize the reallocation of cashflows in the amount of $51.708 million in 2021 for acceleration and deferral of projects within Toronto Water's approved 2021 Capital Budget and 2022-2030 Capital Plan, with offsetting acceleration and deferral cashflow reallocation adjustments in the equal amount in 2022, 2023 and 2024 within Toronto Water's Approved 2022 Capital Budget and 2023-2031 Capital Plan to align with project delivery, as presented in Schedule A (Part A and B) to the report (March 30, 2022) from the General Manager, Toronto Water, with a zero Budget impact.
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2. City Council authorize the reallocation of 2021 cashflows and project costs in Toronto Water's approved 2021 Capital Budget and 2022-2030 Capital Plan in the amount of $2.772 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 (March 30, 2022) from the General Manager, Toronto Water, with a zero Budget impact.
2022-05-11 · Toronto City Council · adopted

On the record

The item as the City filed it

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