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←Executive Committee · 2023-12-05 · 2023.EX10.8

The filed record

Capital Variance Report for the Nine Months Ended September 30, 2023

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The decision

2023-12-13 · Toronto City Council · adopted

As filed

City Council on December 13, 14 and 15, 2023, adopted the following: 1. City Council approve in-year budget adjustments to the 2023-2032 Approved Capital Budget and Plan as detailed in Appendix 4 to the report (November 20, 2023) from the Chief Financial Officer and Treasurer.

On the agenda

As the city filed it

The purpose of this report is to provide City Council with the City of Toronto capital spending for the Nine-months period ended September 30, 2023, as well as the year-end projected expenditures to December 31, 2023. Furthermore, this report seeks Council's approval for in-year budget adjustments to the 2023-2032 Approved Capital Budget and Plan. Table 1 below summarizes the City's 2023 actual capital expenditures compared with the 2023 Approved Capital Budget for the Nine-months period ended September 30, 2023 and the projected expenditures by December 31, 2023.

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Table 1: Capital Variance Summary Table 1 Corporate Capital Variance Summary for the Period Ended September 30, 2023 2023 Approved Budget* 2023 Q3 Actual Expenditures 2023 Projected YE Expenditures $M $M % $M % City Operations 2,652.3 1,094.7 41.3% 1,736.0 65.5% Agencies 1,739.5 905.9 52.1% 1,477.7 84.9% Tax Supported: 4,391.8 2,000.6 45.6% 3,213.7 73.2% Rate Supported: 1,562.3 730.7 46.8% 1,296.7 83.0% TOTAL 5,954.0 2,731.2 45.9% 4,510.4 75.8% *Note: Includes 2022 carry forward funding The City's actual capital spending through the first nine months of 2023 is $2.731 billion or 45.9% of the Approved Capital Budget of the year. The projected spending rate is 75.8% by year-end based on submissions from City Programs and Agencies.

Staff recommended

The Chief Financial Officer and Treasurer recommends that: 1. City Council approve in-year budget adjustments to the 2023-2032 Approved Capital Budget and Plan as detailed in Appendix 4.

Considered

  • 2023-12-05 · Executive Committee · adopted

    Decision as filed

    The Executive Committee recommends that: 1. City Council approve in-year budget adjustments to the 2023-2032 Approved Capital Budget and Plan as detailed in Appendix 4 to the report (November 20, 2023) from the Chief Financial Officer and Treasurer.

  • 2023-12-13 · Toronto City Council · adopted

On the record

The item as the City filed it

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