The Public GalleryToronto

←Executive Committee · 2024-12-10 · 2024.EX19.12

The filed record

Capital Variance Report for the Nine Months Ended September 30, 2024

The Public Gallery wrote no story on this item. What follows is the city’s own record of what happened to it, as filed: nothing on this page is summarised or scored by us.

The decision

2024-12-17 · Toronto City Council · adopted

As filed

City Council on December 17 and 18, 2024, adopted the following: 1. City Council approve in-year budget adjustments to the 2024-2033 Approved Capital Budget and Plan, as well as reallocations of funding sources for prior Approved Capital Budgets, as detailed in Appendix 3 to the report (November 25, 2024) 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-month period ended September 30, 2024, as well as the projected 2024 year-end expenditures. Furthermore, this report seeks Council's approval for in-year budget adjustments to previous approved Capital Budget and Plan as outlined in Appendix 3 of this report. Table 1 below summarizes the City's 2024 actual capital expenditures compared with the 2024 Approved Capital Budget for the nine-month period ended September 30, 2024, and the projected expenditures by year-end, December 31, 2024.

Show the rest of As the city filed it, 1,021 more characters as filed

Table 1: Capital Variance Summary Table 1 Corporate Capital Variance Summary for the Period Ended September 30, 2024 2024 Budget* 2024 Q3 Year-to-Date Expenditures 2024 Projected Year-End Expenditures $M $M % $M % City Operations 3,279.7 1,148.1 35.0% 2,119.1 64.6% Agencies 1,643.0 1,026.6 62.5% 1,545.1 94.0% Tax Supported: 4,922.7 2,174.7 44.2% 3,664.2 74.4% Rate Supported: 1,445.8 590.4 40.8% 1,128.5 78.1% TOTAL 6,368.5 2,765.1 43.4% 4,792.7 75.3% *Note: Includes 2023 carry forward funding The City's actual capital spending for the first nine months of 2024 totals $2.765 billion, or 43.4 percent of the 2024 Approved Capital Budget. This is in line with the experience from the previous year. The projected year-end spending rate of 75.3 percent, based on projections from City Programs and Agencies, closely aligns with last year's forecast for the same reporting period. Capital spending will continue to be monitored, with updates to be provided in the year-end variance report to reflect annual expenditures.

Staff recommended

The Chief Financial Officer and Treasurer recommends that: 1. City Council approve in-year budget adjustments to the 2024-2033 Approved Capital Budget and Plan, as well as reallocations of funding sources for prior Approved Capital Budgets, as detailed in Appendix 3.

Considered

  • 2024-12-10 · Executive Committee · adopted

    Decision as filed

    The Executive Committee recommends that: 1. City Council approve in-year budget adjustments to the 2024-2033 Approved Capital Budget and Plan, as well as reallocations of funding sources for prior Approved Capital Budgets, as detailed in Appendix 3 to the report (November 25, 2024) from the Chief Financial Officer and Treasurer.

  • 2024-12-17 · Toronto City Council · adopted

On the record

The item as the City filed it

More from this meeting

The whole meeting