Item - 2020.EX17.8

The Executive Committee recommends that:

1. City Council authorize the reallocation of cashflows within the Toronto Water Approved 2020 Capital Budget and 2021-2029 Capital Plan in the amount of $52.234 million, for acceleration and deferral of projects, as presented in Schedule A (Part A and B) to the report (September 24, 2020) from the General Manager, Toronto Water with a zero Budget impact.

2. City Council authorize the reallocation of project costs and cashflows in the Toronto Water Approved 2020 Capital Budget and 2021-2029 Capital Plan in the amount of $6.169 million from projects that have been awarded under budget or completed to those requiring additional funding in the same amount as presented in Schedule A (Part C) to the report (September 24, 2020) from the General Manager, Toronto Water with a zero Budget impact.

This report requests City Council's authority to amend Toronto Water's Approved 2020 Capital Budget and 2021-2029 Capital Plan by adjusting project cash flows contained within the Budget and Plan, respectively, to align forecasted project accelerations and deferrals. Additional reallocations to project cashflows and project costs are requested where additional project costs exceed the current approved cashflow. These reallocations will allow Toronto Water to continue to deliver projects within its capital plan. The adjustments will have a zero dollar impact on the 2020 Capital Budget and 2021-2029 Capital Plan and will align the budget and plan with Toronto Water's capital project delivery schedule and program requirements.