Item - 2021.EX28.11

The Executive Committee recommends that: 

1. City Council approve the budget adjustments and any associated complement changes detailed in Appendix D1 to the report (November 19, 2021) from the Chief Financial Officer and Treasurer, to amend the 2021 Approved Operating Budget with no impact on the Net Operating Budget of the City, and City Council approve the expenditure authority as detailed in Appendix D2 to the report (November 19, 2021) from the Chief Financial Officer and Treasurer.

This is to advise that prior to Budget Committee on November 19, 2021, an Operating Variance Report for the nine months ended September 30, 2021, with additional analysis and recommendations will be submitted for consideration. Due to accelerating the agenda to ensure 2022 rate budget materials are publicly shared and to the additional complexity associated with analyzing financial implications of COVID-19 on operations, additional time is required to provide detailed review and analysis in advance of the Budget Committee meeting.

The Operating Variance Report will contain operating results for the nine months ended September 30, 2021 as well as projections to year-end. The report will also request City Council's approval for required amendments to the 2021 Approved Operating Budget that have no impact on the City's 2021 Approved Net Operating Budget.