Item - 2023.EX9.1

The Executive Committee:

1.  Received the report (October 17, 2023) from the City Manager and the Interim Chief Financial Officer and Treasurer for information.

At its meeting on September 6, 2023, Council adopted the Updated Long-Term Financial Plan. This report responds to Council directions requesting staff to report back on a recommended approach to a rolling program review, as well as the feasibility, cost and value-for-money consideration of conducting a Core Services Review.

The City is committed to delivering effective and efficient services that achieve Council's priorities and meet the needs of Toronto's residents. On an annual basis, service and fiscally focused initiatives are implemented to optimize service delivery, realize efficiencies and achieve savings. Additionally, the Updated Long-Term Financial Plan includes actions to further reduce the City's unprecedented financial challenges, with a focus on opportunities that are within the City's control to implement.

As the City works with other orders of government to achieve a new fiscal framework reflective of the City’s unique responsibilities and contributions to the economy, it is imperative that we also continue to take internal actions to further address financial challenges and advance fiscal sustainability. To support this, it is proposed that a Continuous Service Review Program be developed, providing an ongoing assessment of opportunities for continuous improvement, value for money, and savings, complementing actions taken annually as part of the budget process as well as the actions of the Updated Long-Term Financial Plan.

Guided by the principles outlined in this report, staff will report back prior to the 2024 Budget approval with an outline of the Continuous Service Review Program including methodology, expected costs and proposed services (programs and agencies) for inclusion. Over the next two months, staff will undertake an expedited review with program and agency staff to examine potential saving opportunities within a few City Services for 2024.

Staff are not recommending a Core Service Review be undertaken at this time. Should a Core Service Review be considered in the future, it must be aligned with the Continuous Service Review Program and Updated Long-Term Financial Plan actions.