That, on the recommendation of the Deputy City Manager, Finance Supports, the following actions be taken with respect to the 2022 Mid-Year Capital Budget Monitoring Report, dated September 20, 2022:
a) the 2022 Mid-Year Capital Budget Monitoring Report BE RECEIVED for information; it being noted that the life-to-date capital budget represents $2.8 billion with $1.8 billion committed and $1.0 billion uncommitted; it being further noted that the City Treasurer, or designate, will undertake the housekeeping budget adjustments identified in the above-noted report, in accordance with the Multi-Year Budget Council Policy;
b) the status updates of active 2019 life-to-date capital budgets (2019 and prior) having no future budget requests, as appended to the staff report dated September 20, 2022 as Appendix “B”, BE RECEIVED for information;
c) the following actions be taken with respect to the completed capital projects identified in Appendix “C” appended to the above-noted staff report, which have a total of $2.0 million of net surplus funding:
i) the capital projects included in Appendix “C” BE CLOSED; and,
ii) the following actions be taken with respect to the funding associated with the capital projects approved for closure in c) i), above:
Rate Supported
A) pay-as-you-go funding of $3 thousand BE TRANSFERRED from capital receipts;
B) uncommitted reserve fund drawdowns of $1.47 million BE RELEASED back into the reserve funds which originally funded the projects;
Non-Rate Supported
C) uncommitted reserve fund drawdowns of $43 thousand BE TRANSFERRED from Non-Rate Supported Reserve Funds;
D) other net non-rate supported funding sources of $567 thousand BE ADJUSTED in order to facilitate project closings.