Toronto Water 2023 Year End Capital Budget and 2024-2033 Capital Plan Adjustments

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The decision

2024-05-22 · Toronto City Council · adopted

As filed

City Council on May 22 and 23, 2024, adopted the following: 1. City Council authorize the reallocation of cashflows and corresponding funding in the amount of $33.877 million in 2023 for acceleration and deferral of projects within Toronto Water's 2023 Capital Budget and 2024-2032 Capital Plan, with offsetting acceleration and deferral cashflow and corresponding funding reallocation adjustments in the equal amount in 2024, 2025 and 2026 within Toronto Water's 2024 Capital Budget and 2025-2033 Capital Plan to align with project delivery, as presented in Schedule A (Parts A and B) to the report (April 23, 2024) from the General Manager, Toronto Water, with a zero Budget impact.

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2. City Council authorize the reallocation of 2023 cashflows, project costs and corresponding funding in Toronto Water's 2023 Capital Budget and 2024-2032 Capital Plan in the amount of $0.902 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 23, 2024) 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 2023 Capital Budget by adjusting project costs and cashflows to align with year-end expenditures and project progress. The adjustments will have a zero dollar impact on the 2023 Capital Budget. This report also requests City Council's authority to amend Toronto Water's Approved 2024 Capital Budget and 2025-2033 Capital Plan by adjusting project costs and cashflows contained within the 10-Year Capital Budget and Plan, respectively, to align the 2024 Capital Budget and 2025-2033 Capital Plan with the final 2023 capital expenditures and project progress.

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The adjustments will have a zero dollar impact on the 2024 Capital Budget and 2025-2033 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 and corresponding funding in the amount of $33.877 million in 2023 for acceleration and deferral of projects within Toronto Water's approved 2023 Capital Budget and 2024-2032 Capital Plan, with offsetting acceleration and deferral cashflow and corresponding funding reallocation adjustments in the equal amount in 2024, 2025 and 2026 within Toronto Water's Approved 2024 Capital Budget and 2025-2033 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 2023 cashflows, project costs, and corresponding funding in Toronto Water's approved 2023 Capital Budget and 2024-2032 Capital Plan in the amount of $0.902 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

2024-05-14 · Executive Committee · adopted
Decision as filed
The Executive Committee recommends that: 1. City Council authorize the reallocation of cashflows and corresponding funding in the amount of $33.877 million in 2023 for acceleration and deferral of projects within Toronto Water's Approved 2023 Capital Budget and 2024-2032 Capital Plan, with offsetting acceleration and deferral cashflow and corresponding funding reallocation adjustments in the equal amount in 2024, 2025 and 2026 within Toronto Water's Approved 2024 Capital Budget and 2025-2033 Capital Plan to align with project delivery, as presented in Schedule A (Parts A and B) to the report (April 23, 2024) from the General Manager, Toronto Water, with a zero Budget impact.
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2. City Council authorize the reallocation of 2023 cashflows, project costs and corresponding funding in Toronto Water's Approved 2023 Capital Budget and 2024-2032 Capital Plan in the amount of $0.902 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 23, 2024) from the General Manager, Toronto Water, with a zero Budget impact.
2024-05-22 · Toronto City Council · adopted

On the record

The item as the City filed it

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