Item - 2019.BU7.9

The City Librarian recommends that:  

1.  City Council authorize the acceleration and deferral of cash flows within the projects in Toronto Public Library's 2019 Council Approved Capital Budget and future year commitments in the amount of $1.078 million, as included in Attachment 1 "Accelerations/Deferrals - Toronto Public Library 2019 Capital Budget and 2020-2028 Capital Plan Adjustments", with zero gross and debt budget impact.

This report requests City Council's authority to amend the Toronto Public Library 2019 Council Approved Capital Budget and 2020-2028 Capital Plan by adjusting cash flows contained within the 10-Year Capital Plan, respectively, to align forecasted project accelerations and deferrals. The adjustments will have a zero debt impact on the 2019 Capital Budget and 2020-2028 Capital Plan and will align the 2019 Capital Budget to Toronto Public Library's capital project delivery schedule and program requirements.

The approval of this report will authorize the acceleration and deferral of funds in Toronto Public Library's approved 2019 Council Approved Capital Budget and 2020-2028 Capital Plan in the total amount of $1.078 million gross and debt, as detailed in Attachment 1 "Accelerations/Deferrals - Toronto Public Library 2019 Capital Budget and 2020-2028 Capital Plan Adjustments". These amendments will have a zero gross and debt budget impact. 

The Chief Financial Officer and Treasurer (City) and the Director, Finance and Treasurer (Toronto Public Library) have reviewed this report and agree with the financial impact information.