Item - 2018.EX30.23

The Executive Committee recommends that:

1. City Council approve the budget adjustments as outlined in Appendix A of the report (December 11, 2017) from the Chief Executive Officer, Toronto Transit Commission, to reflect offsetting project deferrals and accelerations and re-allocations in the approved 2017 Toronto Transit Commission Capital Budget to/from future year cash flow commitments (including related funding impacts) noting that there is no impact to project approvals or to City debt.

2. City Council approve 2017 Capital Budget and funding source adjustments outlined in Appendix B of the report (December 11, 2017) from the Chief Executive Officer, Toronto Transit Commission, including and increase of $3.6 million in Provincial Funding for Communication Program, an increase of $3.6 million in Metrolinx-Move Ontario for ATC Program ($0.6 million) and PRESTO Project ($2.9 million) and $0.175 million increase in Section 37 Planning Act for Transit Priorities Project, resulting in a total increase to the 2017 project approval of $7.3 million; with no impact to City debt.

At its meeting on Monday, December 11, 2017 the Toronto Transit Commission Board considered the attached report entitled "2017 TTC Capital Budget In-Year Technical Adjustment".

The Board adopted the recommendations in the staff report, as follows:

It is recommended that the Board:

1. Approve the budget adjustments as outlined in Appendix A to reflect offsetting project deferrals and accelerations and re-allocations in the approved 2017 Toronto Transit Commission Capital Budget to/from future year cash flow commitments (including related funding impacts) noting that there is no impact to project approvals or to City debt;

2. Approve 2017 Capital Budget and funding source adjustments outlined in Appendix B including and increase of $3.6 million in Provincial Funding for Communication Program, an increase of $3.6 million in Metrolinx-Move Ontario for ATC Program ($0.6 million) and PRESTO Project ($2.9 million) and $0.175 million increase in Section 37 Planning Act for Transit Priorities Project, resulting in a total increase to the 2017 project approval of $7.3 million; with no impact to City debt;

3. Forward this report to the City of Toronto for Council approval.

The foregoing is submitted to Toronto City Council for approval, through the City's Executive Committee.