Item - 2017.BU31.2

The Budget Committee recommends that:  

1.  City Council authorize the reallocation of funds within Toronto Water's approved 2016 Capital Budget and 2017-2025 Capital Plan in the amount of $43.718 million, for acceleration and deferral of projects, as presented in Schedule A (Parts A and B) to the report (March 13, 2017) from the General Manager, Toronto Water, with a zero Budget impact.

2.  City Council authorize the reallocation of funds in Toronto Water's approved 2016 Capital Budget in the amount of $14.414 million from projects that have been completed or awarded under budget to those requiring additional funding in the same amount as presented in Schedule A (Part C) to the report (March 13, 2017) from the General Manager, Toronto Water, with a zero Budget impact.

This report requests City Council's authority to amend Toronto Water's Approved 2016 Capital Budget and 2017-2025 Capital Plan by adjusting project costs and cash flows contained within the Budget and Plan, respectively, to align with year-end expenditures and project progress. The adjustments will have a zero dollar impact on the 2016 Capital Budget and 2017-2025 Capital Budget and Plan and will align the budget and plan with Toronto Water's capital project delivery schedule and program requirements.