Item - 2024.EP9.16

The Board of Governors of Exhibition Place:

1. Received the report (April 11, 2024) from the Chief Executive Officer, Exhibition Place for information.

This year-end report provides an update to the Board on the final progress of the 2023 Capital Works Program State of Good Repair Budget. The 2023 Capital Works Program budget consists of two parts totalling $34,186,087:

1.  Exhibition Place Managed Projects which includes the “State-of-Good-Repair” ("SOGR") 2023 program with a budget of $22,131,000 (Table 1 - Appendix A); and the 2022 total cash flow carry forward of $5,215,078 (Table 2 - Appendix A).

2.  Non-Exhibition Place Managed Projects which includes $6,840,000 for Service Improvements relating to BMO Field improvements in support of Toronto's hosting of International Federation of Football Association (FIFA) World Cup 2026.

A cash flow carry forward is defined in this report as the combination of unspent mostly committed costs from prior year through signed contracts and agreements, and any surplus from the above SOGR program projects.