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City of Toronto 2000 budget information |
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Backgrounder
January
27, 2000
Capital
Budget 2000
Introduction
$981 million is planned for the 2000 Capital
program, with future commitments of $800 million. For 2000,
priorities focus on transportation, with 45% of the plan for the
Toronto Transit Commission and the City's roads, bridges and traffic.
| Program |
Purpose |
Proposed Capital |
% of Base Budget |
| Toronto Transit
Commission |
Support system
infrastucture |
$270 million |
38% |
| Roads, Bridges &
Traffic
|
Repairs &
reconstruction |
$165 million |
23% |
| Parks and Recreation
|
Park & community centres
improvements |
$ 70 million |
10% |
| Fire Services |
Improved communications
system & new facilities
|
$ 25 million |
4% |
| Solid Waste
Management
|
Maintenance of landfill,
recycling facilities & transfer stations
|
$ 21 million |
3% |
| Police Services |
Facilities &
infrastructure |
$ 20 million |
3 % |
| Shelter, Support & Housing |
Renovations & new
housing |
$ 13 million
|
2 % |
| Other City Base
Programs |
Includes Toronto Zoo,
Library, Ambulance, Exhibition Place & other City
programs.
|
$121 million |
17% |
| |
Total Base
Program |
$705 million |
100% |
Highlights:
Recommendations for the 2000
capital budget include funding for the Base Program and for
Extraordinary Projects as follows:
| |
2000 |
% of Budget |
| Base Program |
$705 million ($754 million in 1999) |
72% |
| Extraordinary Projects
|
$276 million ($454 million in 1999) |
28% |
| Total Capital Program
|
$981 million ($1,208 million in 1999) |
100% |
Capital Budget Priorities
The 2000 capital
program of $981 million consists of two priority areas:
State-of-Good-Repair, required for maintenance, repair and
replacement of existing assets and Growth/Expansion projects that
support development across the City. Overall, the 2000 program's
spending is as follows:
- $541 million State-of-Good-Repair (55%
of total program)
- $440 million Growth/Expansion projects
(45% of total program)
New projects of $359 million of the $981
million had $259 million (72%) as state-of-good-repair.
Paying for the
Capital Program
A
borrowing level of $170 million in gross expenditures is recommended
for the Tax Supported Base Program. Borrowing is increased by $60
million over the base level of $110 million, which does not increase
the City's debt.
The 2000 Capital Budget of $981 million is
financed by:
| Provincial loans and
subsidy |
$ 71 million |
| Reserve funds &
revenues |
$ 89 million |
| Development charges |
$ 8 million |
| Capital from current |
$146 million |
| One-time corporate
revenues |
$178 million |
| Prior year
underspending |
$ 76 million |
| Debt |
$326 million |
| Total
Financing Sources |
$981
Million |
A total of $326 million is recommended for
borrowing for the entire capital program, including extraordinary
programs. In 2000, budgeted borrowing is $170 million for the Base
Program and $156 million for the Extraordinary Program. (In 1999,
budgeted borrowing was $240 million for the total capital program.)
The new borrowing of $60 million covers increases to Transportation
State-of-Good-Repair ($37 million), Facilities ($13 million) and
Parks and Recreation ($24 million), offset by $14 million in net
reductions across other program areas.
See also January 27, 2000 News Release and Program Details
Media Contact:
Glenn Vollebregt, Director, Budget Services
Division, (416) 392-8095
John Di Lallo,
Manager, Capital Budgets, (416) 397-4207
Cindy Bromley, Manager, Finance Communications (416) 392-4993
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