Item - 2015.EX1.6
Tracking Status
- City Council adopted this item on December 11, 2014 with amendments.
- This item was considered by the Executive Committee on December 5, 2014 and adopted without amendment. It will be considered by City Council on December 11, 2014.
- See also Item EX1.12
EX1.6 - 2015 Interim Estimates
- Decision Type:
- ACTION
- Status:
- Amended
- Wards:
- All
City Council Decision
City Council on December 11, 2014, adopted the following:
1. City Council amend the 2015 Interim Estimates to include additional funding of up to $750,000 in the 2015 interim capital estimates, reflecting 50 percent of the Transit Expansion Initiatives capital project to conduct the various studies and analyses for the review of SmartTrack and Regional Express Rail Plans, as outlined in Parts 1 and 2 of Item EX1.12.
2. City Council approve the 2015 Interim Operating Estimates totaling $3.283 billion as detailed by City Program and Agency in Appendix 1 to the report (November 21, 2014) from the Deputy City Manager and Chief Financial Officer.
3. City Council authorize the Deputy City Manager and Chief Financial Officer to make net operating disbursement totaling $2.771 billion to tax and rate supported programs during the period January 1 to April 30, 2015, including cash transfer of $527.317 million to Agencies as detailed in Appendix 1 to the report (November 21, 2014) from the Deputy City Manager and Chief Financial Officer.
4. City Council approve the 2015 Interim Capital Estimates totalled $945.048 million in gross expenditures and financing of $310.198 million in debt funding; $145.564 million in Provincial and Federal funding; $386.912 million in Reserve/Reserve Funds funding; and $76.914 million in Third Party and Other funding as detailed by City Program and Agency in Appendix 2 to the report (November 21, 2014) from the Deputy City Manager and Chief Financial Officer, as amended by Part 1 above.
5. City Council authorize and direct the appropriate City Officials to take the necessary action to give effect to Council's decision.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2015/ex/bgrd/backgroundfile-73838.pdf
Motions (City Council)
Vote (Adopt Item) Dec-11-2014 10:07 AM
| Result: Carried | Majority Required - EX1.6 - Adopt the item |
|---|---|
| Total members that voted Yes: 39 | Members that voted Yes are Paul Ainslie, Ana Bailão, Michelle Berardinetti, Jon Burnside, John Campbell, Christin Carmichael Greb, Shelley Carroll, Raymond Cho, Josh Colle, Gary Crawford, Joe Cressy, Vincent Crisanti, Janet Davis, Glenn De Baeremaeker, Justin J. Di Ciano, Frank Di Giorgio, Sarah Doucette, John Filion, Paula Fletcher, Mary Fragedakis, Mark Grimes, Stephen Holyday, Jim Karygiannis, Norman Kelly, Mike Layton, Chin Lee, Josh Matlow, Pam McConnell, Mary-Margaret McMahon, Joe Mihevc, Denzil Minnan-Wong, Frances Nunziata (Chair), Cesar Palacio, Gord Perks, Jaye Robinson, David Shiner, Michael Thompson, John Tory, Kristyn Wong-Tam |
| Total members that voted No: 2 | Members that voted No are Rob Ford, Giorgio Mammoliti |
| Total members that were Absent: 4 | Members that were absent are Maria Augimeri, Ron Moeser, James Pasternak, Anthony Perruzza |
Declared Interests (City Council)
Councillor James Pasternak - as his spouse works for the Toronto Public Library.
EX1.6 - 2015 Interim Estimates
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
Committee Recommendations
The Executive Committee recommends that:
1. City Council approve the 2015 Interim Operating Estimates totaling $3.283 billion as detailed by City Program and Agency in Appendix 1 to the report (November 21, 2014) from the Deputy City Manager and Chief Financial Officer.
2. City Council authorize the Deputy City Manager and Chief Financial Officer to make net operating disbursement totaling $2.771 billion to tax and rate supported programs during the period January 1 to April 30, 2015, including cash transfer of $527.317 million to Agencies as detailed in Appendix 1 to the report (November 21, 2014) from the Deputy City Manager and Chief Financial Officer.
3. City Council approve the 2015 Interim Capital Estimates totalled $945.048 million in gross expenditures and financing of $310.198 million in debt funding; $145.564 million in Provincial and Federal funding; $386.912 million in Reserve/Reserve Funds funding; and $76.914 million in Third Party and Other funding as detailed by City Program and Agency in Appendix 2 to the report (November 21, 2014) from the Deputy City Manager and Chief Financial Officer.
4. City Council authorize and direct the appropriate City Officials to take the necessary action to give effect thereto.
Origin
Summary
The 2015 Operating and Capital Budgets are proposed to be approved by City Council by March 11, 2014. The purpose of this report is to establish the 2015 Interim Operating and Capital Estimates in order to enable City Programs and Agencies to carry out their ongoing base operations and to continue work on previously approved urgent capital projects during the period January 1 to April 30, 2015.
In accordance with the Financial Control By-Law, Interim Operating Estimates must be approved prior to January 1, 2015 to ensure that appropriate Council approval is granted to fund the continuance of the City's business during the period January 1 to April 30, 2015. The 2015 Interim Operating Estimates are $3.283 billion gross and requires cash outflow net funding of $2.771 billion. The 2015 Interim Capital Estimates total $945.048 million gross and requires debenture financing of $310.198 million.
Background Information
https://www.toronto.ca/legdocs/mmis/2015/ex/bgrd/backgroundfile-73838.pdf