Item - 2008.EX26.48
Tracking Status
- City Council adopted this item on December 1, 2008 without amendments and without debate.
- This item will be considered by Executive Committee on November 10, 2008. It will be considered by City Council on December 1, 2008, subject to the actions of the Executive Committee.
EX26.48 - Additional Funding for Child Care and Ongoing Funding Reserves
- Decision Type:
- ACTION
- Status:
- Adopted on Consent
- Wards:
- All
City Council Decision
City Council on December 1, 2 and 3, 2008, adopted the following motion:
1. City Council approve an amendment to the Children’s Services 2008 Approved Operating Budget to include an additional $6.002 million in revenues received as Toronto’s share of a provincial $25 million child care investment for additional fee subsidies and French-language child care spaces; and these revenues be offset by a reduction in the 2008 budgeted withdrawal from the Child Care Expansion Reserve Fund (CCERF) of $6.002 million.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2008/ex/bgrd/backgroundfile-16694.pdf
Declared Interests (City Council)
Councillor Howard Moscoe - in that his daughter is a part-time child care worker employed by the City of Toronto.
EX26.48 - Additional Funding for Child Care and Ongoing Funding Reserves
- Consideration Type:
- ACTION
- Wards:
- All
Origin
Recommendations
The Budget Committee recommended to the Executive Committee that:
1. City Council approve an amendment to the Children’s Services 2008 Approved Operating Budget to include an additional $6.002 million in revenues received as Toronto’s share of a provincial $25 million child care investment for additional fee subsidies and French‑language child care spaces; and these revenues be offset by a reduction in the 2008 budgeted withdrawal from the Child Care Expansion Reserve Fund (CCERF) of $6.002 million.
Summary
This report seeks approval to amend the Children's Services 2008 Approved Operating Budget to reflect additional Best Start funding. Details of additional funding were provided by Minister Matthews, Minister of Children and Youth Services (MCYS), in a letter to Mayor Miller dated July 25, 2008 and announced publicly on July 9, 2008. This announcement includes an allocation of $6.002 M for additional fee subsidies and French-language child care funding.
The report also reports on the funding issues facing the child care system as directed by Council.
Financial Impact
Prior to this funding announcement, Children's Services 2008 Approved Operating Budget included a draw from the Child Care Expansion Reserve Fund (CCERF) of $8.7 million to maintain the Council approved service levels including 24,000 subsidy spaces. It is recommended that the additional provincial funding of $6.002 million be used to offset the 2008 budgeted reserve draw, reducing the 2008 budgeted draw from the CCERF from $8.720 million to $2.718 million.
After making the recommended adjustment to the CCERF, the projected year-end balance in the CCERF will be $40.620 million. Based on current service levels, it is expected that the reserve fund will be exhausted in 2011.
The Deputy City Manager and Chief Financial Officer has reviewed this report and agrees with the financial impact information.
Background Information
https://www.toronto.ca/legdocs/mmis/2008/ex/bgrd/backgroundfile-16694.pdf