Item - 2011.EX11.3

The Executive Committee:

1.         received the item for information.

2.         requested the City Manager to report results of Toronto's Management Information Dashboard to the Executive Committee on a quarterly basis.

This report and the accompanying Attachment A, entitled Toronto's Management Information Dashboard - Q2 2011 Results (Dashboard), provides a high level summary of key economic and social indicators as well as operational statistics from City Divisions, Agencies, Boards and Commissions.

It is intended to provide information to assist in assessing trends and directions of key indicators for the City of Toronto as a whole, and the City of Toronto services.  It includes the most current information available to date in 2011 and compares it to previous periods, previous years and any associated targets established for those indicators.

Staff continue to monitor a number of indicators, such as those included in this Dashboard, on an ongoing basis to support decision-making and planning processes.  The Q2 2011 indicator results in relation to 2010 results show:

1.         A number of the key economic indicators for the city have shown generally positive signs of economic stability over the first half of 2011 and while the outlook for the balance of 2011 appear relatively stable, 2012 forecasts are for a continued economic slowdown.

2.         In the short term, the development climate is still positive but there is a high degree of uncertainty heading into 2012 and 2013.

3.         To date, office and industrial vacancy rates have decreased in 2011, retail sales are increasing (5.2%), and development and construction indicators are continuing positive trends, but with building permit applications down.

4.         Many of the city's key revenue sources such as TTC user fees and Land Transfer Tax are higher/better than 2010 levels and 2011 budgeted amounts.  However, these revenues will be impacted by the anticipated continuation of the economic slowdown in 2012.

5.         The unemployment rate in Toronto has decreased, but is still high in relation to other cities. The decrease in the unemployment rate, however, is in contrast to the rising social assistance caseload that is expected to continue growing in 2012.

6.         There are mixed trends on the indicators relating to community vulnerability:

-          The social assistance caseload is rising as noted above

-          Waiting lists for a subsidized childcare fee and a social housing unit are increasing

-          For sports and recreation programs, Welcome Policy registrations have increased as has registered program use in priority centres

-          Food bank use is decreasing

-          Emergency shelter use for families has decreased

7.         Crime rates continue to show a decreasing trend in 2011 as in recent years

Increasing concerns about the slowing U.S. economy and uncertainty regarding the escalating European debt crisis make it difficult to predict the impact these external factors could have on Toronto for the balance of 2011 and into 2012. Staff will continue to monitor indicator results closely to assess the potential impact on the City.