|
Decision Letter |
|
Budget Committee |
| Meeting No. | 54 | Contact | Kelly McCarthy, Committee Administrator | |
| Meeting Date |
Thursday, May 1, 2014 |
Phone | 416-392-4666 | |
| Start Time |
9:30 AM |
buc@toronto.ca | ||
| Location |
Committee Room 1, City Hall
|
Chair | Councillor Frank Di Giorgio |
| BU54.2 | ACTION |
Adopted |
|
Ward:All |
| Facilities Management and Real Estate 2014 Capital Budget Adjustments and Accelerations / Deferrals |
| Committee Decision | |
The Budget Committee recommends to the Executive Committee that:
1. City Council authorize the reallocation of funds in Facilities Management and Real Estate's 2014 Approved Capital Budget in the amount of $0.545 million as illustrated in Schedule A to the report (April 14, 2014) from the Chief Corporate Officer, with zero gross and net impact.
2. City Council authorize the deferral and acceleration of funds in Facilities Management and Real Estate's approved 2014 Capital Budget and 2015 – 2023 Capital Plan in the amount of $1.200 million as illustrated in Schedule B to the report (April 14, 2014) from the Chief Corporate Officer, with zero gross and net impact. |
|
| Origin |
| (April 14, 2014) Report from the Chief Corporate Officer |
| Summary |
This report requests authority to amend the Facilities Management and Real Estate's (FM&RE) 2014 Approved Capital Budget and 2015-2023 Capital Plan, by reallocating funding within approved budget and plan amounts to better meet program requirements. The adjustment of funds will have a zero net impact corporately and will better align 2014 and future cash flows with Facilities Management and Real Estate's program requirements and anticipated spending. |
| Financial Impact |
There are no additional costs to the City as a result of approval of this report.
The approval of this report will result in the reallocation of 2014 approved cash flows in the amount of $0.545 million as detailed in Schedule A attached; and the deferral and acceleration of funds in Facilities Management and Real Estate's 2014 Capital Budget and 2015 – 2023 Capital Plan in the amount of $1.200 million as detailed in Schedule B attached. These amendments will have a zero gross and net impact.
The Deputy City Manager and Chief Financial Officer have reviewed this report and agree with the financial impact information. |
| Background Information |
| (April 14, 2014) Report from the Chief Corporate Officer on Facilities Management and Real Estate 2014 Capital Budget Adjustments and Accelerations / Deferrals (http://www.toronto.ca/legdocs/mmis/2014/bu/bgrd/backgroundfile-68505.pdf) (April 7, 2014) Schedule A- Budget Adjustments (http://www.toronto.ca/legdocs/mmis/2014/bu/bgrd/backgroundfile-68526.pdf) (April 7, 2014) Schedule B - Deferrals / Accelerations (http://www.toronto.ca/legdocs/mmis/2014/bu/bgrd/backgroundfile-68527.pdf) |