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←Executive Committee · 2022-12-06 · 2023.EX1.1

The filed record

2023 Tax and Rate Supported Interim Operating and Capital Spending Authorities

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The decision

2022-12-14 · Toronto City Council · adopted

As filed

City Council on December 14 and 15, 2022, adopted the following: 1. City Council approve the 2023 Tax and Rate Supported Interim Operating Spending Authorities totaling $7.488 billion as detailed by City Program and Agency in Appendix 1 to the report (November 21, 2022) from the Chief Financial Officer and Treasurer.

The vote

Adopt Item · Carried, 25-0

For (25)Alejandra Bravo, Amber Morley, Anthony Perruzza, Ausma Malik, Brad Bradford, Chris Moise, Dianne Saxe, Frances Nunziata, Gary Crawford, Gord Perks, Jamaal Myers, James Pasternak, Jaye Robinson, Jennifer McKelvie, Jon Burnside, Josh Matlow, Lily Cheng, Michael Thompson, Mike Colle, Nick Mantas, Paul Ainslie, Paula Fletcher, Shelley Carroll, Stephen Holyday, Vincent Crisanti
Absent (1)John Tory
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On the agenda

As the city filed it

The purpose of this report is to establish interim spending authorities for City Programs and Agencies before the 2023 Operating and Capital Budgets are approved by City Council. This will provide the required authority to continue to deliver current services, meet existing contractual commitments, and continue work on previously approved capital projects prior to 2023 budget approvals. The 2023 Tax and Rate Supported Operating and Capital Budgets are expected to be approved in late February or early March of 2023.

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The budgets will then be uploaded to the City's financial system by the end of March or early April for City programs and Agencies, providing authority to spend or commit against 2023 approved budgets. It should be noted that no funding for new/enhanced services or new capital projects is included in the recommended 2023 Interim Spending Authorities contained in this report. Any consideration for new funding is subject to the 2023 Budget process. The 2023 Tax and Rate Supported Interim Operating Spending Authorities include $7.488 billion in gross expenditures with a net funding requirement of $6.853 billion. The 2023 Tax and Rate Supported Interim Capital Spending Authorities total $3.133 billion, requiring debenture financing of $0.851 billion.

Staff recommended

The Chief Financial Officer and Treasurer recommends that: 1. City Council approve the 2023 Tax and Rate Supported Interim Operating Spending Authorities totaling $7.488 billion as detailed by City Program and Agency in Appendix 1 attached.

Considered

  • 2022-12-06 · Executive Committee · adopted

    Decision as filed

    The Executive Commitee recommends that: 1. City Council approve the 2023 Tax and Rate Supported Interim Operating Spending Authorities totaling $7.488 billion as detailed by City Program and Agency in Appendix 1 to the report (November 24, 2022) from the Chief Financial Officer and Treasurer.

  • 2022-12-14 · Toronto City Council · adopted

On the record

The item as the City filed it

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