That, on the recommendation of the Deputy City Manager, Finance Supports, the following actions be taken with respect to the 2023 Mid-Year Capital Budget Monitoring Report:
a) the 2023 Mid-Year Capital Budget Monitoring Report BE RECEIVED for information, it being noted that the life-to-date capital budget represents $3.4 billion with $1.9 billion committed and $1.5 billion uncommitted; it being further noted that the City Treasurer, or designate, will undertake the housekeeping budget adjustments identified in the Report, in accordance with the Multi-Year Budget Policy adopted by amending by-law No. CPOL.-45(b)-239;
b) the completed capital projects, totaling $3.4 million of net surplus funding, included in Appendix “B” as appended to the staff report dated October 3, 2023, BE CLOSED;
c) the funding associated with the rate supported capital projects approved for closure in b) be discharged as follows:
i) pay-as-you-go funding of $15 thousand BE TRANSFERRED from capital receipts;
ii) authorized debt financing of $2 thousand BE RELEASED resulting in a reduction of authorized, but unissued debt;
iii) uncommitted reserve fund drawdowns of $169 thousand BE RELEASED back into the reserve funds which originally funded the projects;
d) the funding associated with the non-rate supported capital projects approved for closure in b) be discharged as follows:
i) uncommitted reserve fund drawdowns of $2.5 million BE RELEASED back into the reserve funds which originally funded the projects;
ii) other net non-rate supported funding sources of $758 thousand BE ADJUSTED in order to facilitate project closings.