Item - 2021.EX26.9

The Executive Committee recommends that:

1. City Council authorize the reallocation of cash flows within Toronto Water’s approved 2021 Capital Budget and  2022-2030 Capital Plan in the amount of $70.083 million, for acceleration and deferral of projects, as presented in Schedule A (Part A and B) to the report (September 3, 2021) from the General Manager, Toronto Water, with a zero Budget impact.

2. City Council authorize the reallocation of project costs and cash flows in Toronto Water's approved 2021 Capital Budget and 2022-2030 Capital Plan in the amount of $11.867 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 3, 2021) from the General Manager, Toronto Water, with a zero Budget impact.

This report requests City Council's authority to amend Toronto Water's Approved 2021 Capital Budget and 2022-2030 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 cash flows and project costs are requested where project costs exceed the current approved cash flows and project costs.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 2021 Capital Budget and 2022-2030 Capital Plan and will align the budget and plan with Toronto Water's capital project delivery schedule and program requirements.