Item - 2012.BU28.6

Tracking Status

This item was considered by Budget Committee on September 24, 2012 and was adopted without amendment.

BU28.6 - Operating Variance Report for the Six-Month Period Ended June 30, 2012

Decision Type:: ACTION

Status:: Adopted

Wards:: All

Committee Decision

The Budget Committee recommends to the Executive Committee that:

1. City Council approve in-year budget adjustments detailed in Appendix D to the report (September 7, 2012) from the Deputy City Manager and Chief Financial Officer, to amend the 2012 Approved Operating Budget between Programs with gross expenditures and revenues of $10.069 million, and no impact to the 2012 Approved Net Operating Budget.

Origin

(September 7, 2012) Report from the Deputy City Manager and Chief Financial Officer

Summary

The purpose of this report is to provide Council with the City of Toronto Operating Variance for the six-month period ended June 30, 2012 as well as year-end projections and to request Council's approval for amendments to the 2012 Operating Budget between Programs to ensure accurate reporting and financial accountability with no increase to the 2012 Approved Net Operating Budget

Background Information

(September 7, 2012) Report and Appendices A, B, C, D and E from the Deputy City Manager and Chief Financial Officer on Operating Variance Report for the Six-Month Period Ended June 30, 2012
https://www.toronto.ca/legdocs/mmis/2012/bu/bgrd/backgroundfile-49983.pdf

Motions

Motion to Adopt Item moved by Councillor Frank Di Giorgio (Carried)