Item - 2019.EX11.8
Tracking Status
- City Council adopted this item on December 17 and 18, 2019 without amendments and without debate.
- This item was considered by the Executive Committee on December 11, 2019 and adopted without amendment. It will be considered by City Council on December 17 and 18, 2019.
EX11.8 - 2020 Tax Supported Interim Operating and Capital Budget Estimates
- Decision Type:
- ACTION
- Status:
- Adopted on Consent
- Wards:
- All
City Council Decision
City Council on December 17 and 18, 2019, adopted the following:
1. City Council approve the 2020 Tax Supported Interim Operating Budget Estimates totalling $5.742 billion as detailed by City Program and Agency in Appendix 1 to the report (November 27, 2019) from the Chief Financial Officer and Treasurer.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2019/ex/bgrd/backgroundfile-140681.pdf
EX11.8 - 2020 Tax Supported Interim Operating and Capital Budget Estimates
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
Committee Recommendations
The Executive Committee recommends that:
1. City Council approve the 2020 Tax Supported Interim Operating Budget Estimates totalling $5.742 billion as detailed by City Program and Agency in Appendix 1 to the report (November 27, 2019) from the Chief Financial Officer and Treasurer.
Origin
Summary
The 2020 Tax Supported Operating and Capital Budgets are scheduled for Council approval in mid- February of 2020. The purpose of this report is to establish the 2020 Tax Supported Interim Operating and Capital Estimates in order to enable Tax Supported City Programs and Agencies to have the necessary spending authority to deliver current services, meet existing contractual commitments and to continue work on previously approved capital projects until the 2020 Operating and Capital Budgets are approved by City Council.
The 2020 Tax Supported Interim Operating Estimates are $5.742 billion gross and require cash outflow funding of $4.808 billion. The 2020 Tax Supported Interim Capital Estimates total $3.391 billion and require debenture financing of $1.491 billion.
Background Information
https://www.toronto.ca/legdocs/mmis/2019/ex/bgrd/backgroundfile-140681.pdf