Budget Committee
The full agenda, as filed
All 2 items in the clerk’s order. Each carries the city’s own words: the staff recommendation, what the body decided, and its status. Nothing below is written by us.
BU5.1adopted
2019 Capital Budget Adjustments for Carry Forward Funding
The purpose of this report is to seek Council's approval for an additional $872.018 million carry-forward funding that will increase the 2019 Approved Capital Budget to $5.789 billion to enable staff to complete 2018 and prior year approved capital projects. With the 2018 fiscal year near closure, City Programs and Agencies are finalizing the 2018 actual project expenditures and have now estimated that a total of $2.031 billion of unspent funding, of previously approved capital projects, will be needed to be carried forward to continue capital project delivery in 2019. During the 2019 budget planning process, $1.159 billion of this total was approved and consequently, an additional $872.018 million carry-forward funding is being recommended in this report to provide all necessary cash flow spending authorities in 2019. The recommended carry forward funding adjustments are in compliance with the City's Carry Forward Policy and have no impact on the City's approved debt for 2019.
The Budget Committee recommends that: 1. City Council approve additional carry forward funding of $872.018 million from unspent capital projects funding as detailed in Appendix 1a and 1b to the report (April 9, 2019) from the Chief Financial Officer and Treasurer, in order to continue work on previously approved capital projects, and that the 2019 Approved Capital Budget for respective City Programs and Agencies be adjusted accordingly with no incremental impact on debt. 2. City Council approve in-year funding adjustments to the 2018-2027 Approved Capital Budget and Plan for Toronto Transit Commission as detailed in Appendix 2 to the report (April 9, 2019) from the Chief Financial Officer and Treasurer, to maximize the use of budgeted and eligible non-debt capital funding.
Staff recommendation as filed
The Chief Financial Officer and Treasurer recommends that: 1. City Council approve additional carry forward funding of $872.018 million from unspent capital projects funding as detailed in Appendix 1, in order to continue work on previously approved capital projects, and that the 2019 Approved Capital Budget for respective City Programs and Agencies be adjusted accordingly with no incremental impact on debt. 2. City Council approve in-year funding adjustments to the 2018-2027 Approved Capital Budget and Plan for Toronto Transit Commission as detailed in Appendix 2, to maximize the use of budgeted and eligible non-debt capital funding.
BU5.2adopted
Toronto Water 2018 Year End Capital Budget and 2019-2028 Capital Plan Adjustments
This report requests City Council's authority to amend Toronto Water's Approved 2018 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 2018 Capital Budget. This report requests City Council's authority to amend Toronto Water's Approved 2019 Capital Budget and 2020-2028 Capital Plan by adjusting project costs and cash flows contained within the Budget and Plan, respectively, to align the 2019 Capital Budget with the final 2018 capital expenditures and project progress. The adjustments will have a zero dollar impact on the 2019 Capital Budget and 2020-2028 Capital Plan and will align the budget and plan with Toronto Water's capital project delivery schedule and program requirements.
The Budget Committee recommends that: 1. City Council authorize the reallocation of 2018 cashflows within Toronto Water's approved 2018 Capital Budget and 2019-2027 Capital Plan in the amount of $77.299 million, for acceleration and deferral of projects, as presented in Schedule A (Parts A and B) to the report (April 1, 2019) from the General Manager, Toronto Water, with a zero Budget impact. 2. City Council authorize the reallocation of 2019, 2020 and 2021 cashflows within Toronto Water's approved 2019 Capital Budget and 2020-2028 Capital Plan in the amount of $77.299 million, for acceleration and deferral of projects, as presented in Schedule A (Parts A and B) to the report (April 1, 2019) from the General Manager, Toronto Water, with a zero Budget impact. 3. City Council authorize the reallocation of 2018 cashflows and project costs in Toronto Water's approved 2018 Capital Budget and 2019-2027 Capital Plan in the amount of $5.827 million from projects that have been completed or awarded under budget to those requiring additional funding in the same amount as presented in Schedule A (Part C) to the report (April 1, 2019) from the General Manager, Toronto Water, with a zero Budget impact.
Staff recommendation as filed
The General Manger, Toronto Water recommends that: 1. City Council authorize the reallocation of 2018 cashflows within Toronto Water's approved 2018 Capital Budget and 2019-2027 Capital Plan in the amount of $77.299 million, for acceleration and deferral of projects, as presented in Schedule A (Part A and B), with a zero Budget impact. 2. City Council authorize the reallocation of 2019, 2020 and 2021 cashflows within Toronto Water's approved 2019 Capital Budget and 2020-2028 Capital Plan in the amount of $77.299 million, for acceleration and deferral of projects, as presented in Schedule A (Part A and B), with a zero Budget impact. 3. City Council authorize the reallocation of 2018 cashflows and project costs in Toronto Water's approved 2018 Capital Budget and 2019-2027 Capital Plan in the amount of $5.827 million from projects that have been completed or awarded under budget to those requiring additional funding in the same amount as presented in Schedule A (Part C), with a zero Budget impact.