January 5, 1999

To:Strategic Policies and Priorities Committee

From:City Clerk

Subject:1999 Interim Operating Budget Estimates

Recommendations:

The Budget Committee on December 8, 1998 recommended to the Strategic Policies and Priorities Committee the adoption of the report (December 7, 1998) from the Chief Financial Officer and Treasurer regarding the 1999 Interim Operating Budget Estimates.

Background:

The Budget Committee had before it a report (December 7, 1998) from the Chief Financial Officer and Treasurer regarding the 1999 Interim Operating Budget Estimates.

City Clerk

Barbara Liddiard/cp

Item No. 21

Attachment

c.Chief Financial Officer and Treasurer

Director Budgets

(Report dated December 7, 1998 addressed to the

Budget Committee from the

Chief Financial Officer and Treasurer)

Purpose:

To provide funds to allow departments, agencies, boards and commissions to finance their normal operations until the final current budget is adopted by council.

Financial Implications:

This request provides interim operating funds for departments, agencies, boards and commissions.

Recommendation:

Approve the interim current budget estimates in the amount of $2,983,876,100.00.

Council Reference/Background/History:

N/A

Discussion:

The 1999 Current Budget will be presented to Council for its approval in late April. In order to allow departments, agencies, Boards and commissions to finance their normal operations during the first part of the year, it is necessary for Council to approve interim operating budget estimates. The attached schedule details the interim estimates by program with the 1998 consolidated budget included for comparative purposes. Expenditures made during this period by departments, agencies, boards and commissions must be restricted to normal operating expenditures.

Except for capital projects that have ongoing approvals or are included in the interim capital estimates, no expenditures of a capital nature should be incurred prior to the approval of the capital budget.

The total recommended interim appropriation is $2,216,944,600.00 for City purposes and $766,931,600.00 for school purposes. The details of the interim operating budget estimates are contained in Schedule 1 attached.

Conclusion:

The interim operating estimates provide funding for departments, agencies, boards and commissions until the final budget is approved by Council in April 1999.

Contact Names

Shekhar Prasad,

Director of Budgets Tel: 392-8095; Fax 392-3649