Item - 2021.EX28.3
Tracking Status
- City Council adopted this item on December 15, 2021 without amendments and without debate.
- This item was considered by the Executive Committee on December 7, 2021 and adopted without amendment. It will be considered by City Council on December 15, 2021.
EX28.3 - 2022 Tax Supported Interim Operating and Capital Budget Estimates
- Decision Type:
- ACTION
- Status:
- Adopted on Consent
- Wards:
- All
City Council Decision
City Council on December 15, 16 and 17, 2021, adopted the following:
1. City Council approve the 2022 Tax Supported Interim Operating Budget Estimates totalling $3.625 billion as detailed by City Program and Agency in Appendix 1 to the report (November 22, 2021) from the Chief Financial Officer and Treasurer.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2021/ex/bgrd/backgroundfile-173774.pdf
EX28.3 - 2022 Tax Supported Interim Operating and Capital Budget Estimates
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
Committee Recommendations
The Executive Committee recommends that:
1. City Council approve the 2022 Tax Supported Interim Operating Budget Estimates totalling $3.625 billion as detailed by City Program and Agency in Appendix 1 to the report (November 22, 2021) from the Chief Financial Officer and Treasurer.
Origin
Summary
The 2022 Tax Supported Operating and Capital Budgets are scheduled for Council approval in mid- February of 2022. The purpose of this report is to establish the 2022 Tax Supported Interim Operating and Capital Estimates in order to enable Tax Supported City Programs and Agencies to have the necessary spending authority to deliver current services, meet existing contractual commitments and to continue work on previously approved capital projects until the 2022 Operating and Capital Budgets are approved by City Council.
It should be noted that no funding for new/enhanced services or new capital projects is included in the recommended 2022 Interim Estimates. Any consideration for new funding is subject to the 2022 Budget process.
The 2022 Tax Supported Interim Operating Estimates include $3.625 billion in gross expenditures with a net funding requirement of $3.377 billion. The 2022 Tax Supported Interim Capital Estimates total $1.659 billion, requiring debenture financing of $0.565 billion.
Background Information
https://www.toronto.ca/legdocs/mmis/2021/ex/bgrd/backgroundfile-173774.pdf