Item - 2015.EX1.5
Tracking Status
- City Council adopted this item on December 11, 2014 without amendments.
- This item was considered by Executive Committee on December 5, 2014 and was adopted with amendments. It will be considered by City Council on December 11, 2014.
EX1.5 - Capital Variance Report for the Nine Month Period Ended September 30, 2014
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
City Council Decision
City Council on December 11, 2014, adopted the following:
1. City Council increase the approved 2014 Capital Budget for Transportation Services by $800,000, fully funded from Section 37 funds in the development at 90 Harbour Street and 1 York Street (source account XR3026-3700491), to fully fund the procurement of detailed design and construction drawings for the modification of the traffic ramps existing from the Frederick G. Gardiner Expressway at York Street, Bay Street and Yonge Street, increasing the existing Gardner York Bay Yonge Reconfiguration project (CTP814-56) from $1.0 million to $1.8 million.
2. City Council receive for information in-year budget adjustments to the 2014-2023 Approved Capital Budget and Plan detailed in Appendix 2 to the report (November 21, 2014) from the Deputy City Manager and Chief Financial Officer, for Economic Development and Culture, Transportation Services, Toronto Public Library, Toronto Zoo and Solid Waste Management Services requested during the 2014 Election recess in accordance with "Delegation of Authority During Extended Council Recess" (Item EX44.1).
3. City Council receive for information Appendix 3 to the report (November 21, 2014) from the Deputy City Manager and Chief Financial Officer, which lists 4 capital project for Toronto Public Library that will be closed.
4. City Council direct the Toronto Transit Commission to identify cash flow funding to be reallocated between projects within the Capital Program to ensure that 2014 cash flow funding does not exceed the 2014 Approved Capital Budget, and to report to Budget Committee on required changes at the first regular meeting of 2015.
5. City Council authorize and direct the appropriate City Officials to take the necessary action to give effect to Council's decision.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2015/ex/bgrd/backgroundfile-73788.pdf
Appendix 1 - 2014 Consolidated Capital Variance Report for the Nine Months Ended September 30, 2014
https://www.toronto.ca/legdocs/mmis/2015/ex/bgrd/backgroundfile-73866.pdf
Appendix 2 - In-Year Budget Adjustments during the Election Recess 2014
https://www.toronto.ca/legdocs/mmis/2015/ex/bgrd/backgroundfile-73867.pdf
Appendix 3 - Capital Project to be Closed
https://www.toronto.ca/legdocs/mmis/2015/ex/bgrd/backgroundfile-73868.pdf
Appendix 4 - Capital Variance Explanation - Programs/Agencies
https://www.toronto.ca/legdocs/mmis/2015/ex/bgrd/backgroundfile-73869.pdf
Motions (City Council)
Declared Interests (City Council)
Councillor James Pasternak - as his spouse works for the Toronto Public Library.
EX1.5 - Capital Variance Report for the Nine Month Period Ended September 30, 2014
- Decision Type:
- ACTION
- Status:
- Amended
- Wards:
- All
Committee Recommendations
The Executive Committee recommends that:
1. City Council increase the approved 2014 Capital Budget for Transportation Services by $800,000, fully funded from Section 37 funds in the development at 90 Harbour Street and 1 York Street (source account XR3026-3700491), to fully fund the procurement of detailed design and construction drawings for the modification of the traffic ramps existing from the Frederick G. Gardiner Expressway at York Street, Bay Street and Yonge Street, increasing the existing Gardner York Bay Yonge Reconfiguration project (CTP814-56) from $1.0 million to $1.8 million.
2. City Council receive for information in-year budget adjustments to the 2014-2023 Approved Capital Budget and Plan detailed in Appendix 2 to the report (November 21, 2014) from the Deputy City Manager and Chief Financial Officer, for Economic Development and Culture, Transportation Services, Toronto Public Library, Toronto Zoo and Solid Waste Management Services requested during the 2014 Election recess in accordance with "Delegation of Authority During Extended Council Recess" (Item EX44.1).
3. City Council receive for information Appendix 3 to the report (November 21, 2014) from the Deputy City Manager and Chief Financial Officer, which lists 4 capital project for Toronto Public Library that will be closed.
4. City Council direct The Toronto Transit Commission to identify cash flow funding to be reallocated between projects within the Capital Program to ensure that 2014 cash flow funding does not exceed the 2014 Approved Capital Budget, and to report to Budget Committee on required changes at the first regular meeting of 2015.
5. City Council authorize and direct the appropriate City Officials to take the necessary action to give effect thereto.
Origin
Summary
The purpose of this report is to provide Council with the 2014 Capital Variance Report for the nine month period ended September 30, 2014 as well as projected actual expenditures to December 31, 2014. Furthermore, this report informs Council about approval for 2014 in-year budget adjustments requested during the 2014 Election recess from September to December 2014.
This report identifies closure of 4 capital projects for Toronto Public Library. Under-spending for these projects was reallocated previously, with Council approval, to other capital projects to address funding requirements. As a result, the projects were completed on budget with total funding and expenditures of $16.979 million.
Capital expenditures for the nine months ended September 30, 2014 totalled $1.531 billion or 35.7% of the 2014 Approved Capital Budget of $4.284 billion (see Table 1). This spending pattern is consistent with prior years. As detailed by City Program and Agency in Appendix 1, actual expenditures to year-end are expected to reach $2.912 billion or 68% of the total 2014 Approved Capital Budget; 15 of 33 City Programs and Agencies are projecting spending in excess of 70% by year-end: Tax Supported Programs project a spending rate of 65.8% to year-end; while Rate Supported Programs project a year-end spending rate of 77.6%.
Table 1 | |||||
Corporate Capital Variance Summary | |||||
for the Period Ended September 30, 2014 | |||||
($000s) | |||||
| 2014 Approved Budget | Actual Expenditures - January 1 to September 30, 2014 | Projected Actual Expenditure at Year-End | ||
$000s | % |
|
| ||
|
|
|
|
|
|
City Operations | 1,366,586 | 437,924 | 32.0 | 871,197 | 63.7 |
Agencies | 2,125,705 | 737,005 | 34.7 | 1,426,326 | 67.1 |
Sub Total - Tax Supported | 3,492,291 | 1,174,929 | 33.6 | 2,297,523 | 65.8 |
Rate Supported Programs: | 791,913 | 356,331 | 45.0 | 614,662 | 77.6 |
TOTAL | 4,284,204 | 1,531,260 | 35.7 | 2,912,185 | 68.0 |
The rate of spending in the first nine months was driven largely by expropriation process delays for the acquisition of various sites, poor weather conditions, longer than planned timelines to obtain necessary approvals or required permits; delays in securing funds from cost-sharing partners; design issues and difficulty in securing necessary resources for project delivery.
Background Information
https://www.toronto.ca/legdocs/mmis/2015/ex/bgrd/backgroundfile-73788.pdf
Appendix 1 - 2014 Consolidated Capital Variance Report for the Nine Months Ended September 30, 2014
https://www.toronto.ca/legdocs/mmis/2015/ex/bgrd/backgroundfile-73866.pdf
Appendix 2 - In-Year Budget Adjustments during the Election Recess 2014
https://www.toronto.ca/legdocs/mmis/2015/ex/bgrd/backgroundfile-73867.pdf
Appendix 3 - Capital Project to be Closed
https://www.toronto.ca/legdocs/mmis/2015/ex/bgrd/backgroundfile-73868.pdf
Appendix 4 - Capital Variance Explanation - Programs/Agencies
https://www.toronto.ca/legdocs/mmis/2015/ex/bgrd/backgroundfile-73869.pdf
Motions
That:
1. City Council increase the approved 2014 Capital Budget for Transportation Services by $800,000, fully funded from Section 37 funds in the development at 90 Harbour Street and 1 York Street (source account XR3026-3700491), to fully fund the procurement of detailed design and construction drawings for the modification of the traffic ramps existing from the Frederick G. Gardiner Expressway at York Street, Bay Street and Yonge Street, increasing the existing Gardner York Bay Yonge Reconfiguration project (CTP814-56) from $1.0 million to $1.8 million.
Declared Interests
Councillor James Pasternak - As it relates to the Toronto Public Library as his spouse is an employee.