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10. 2010 operating and capital budget q2
- budgets
de fonctionnement et des immobilisations 2010 - T2 - |
Committee
Recommendation
That Council approve the budget adjustments as detailed in Document 2.
Recommandation DU Comité
Que le Conseil approuve les
ajustements budgétaires décrits dans le document 2.
Documentation
1. City Treasurer’s Report, dated 18
August 2010 (ACS2010-CMR-FIN-0058).
Agriculture and Rural
Affairs Committee
Comité de l’agriculture et des affaires rurales
18 August 2010 / le 18 août 2010
Submitted by/Soumis par : Marian Simulik, City Treasurer/Trésorière
municipale
Contact Person/Personne
ressource : Joanne Farnand, Manager, Financial Services/ Gestionnaire services
financiers
Finance
Department/Service des finances
613-580-2424
ext./poste 22712, joanne.farnand@ottawa.ca
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Ref N°: ACS2010-CMR-FIN-0058 |
That the Agriculture and Rural Affairs Committee:
1. Receive the June 30 results and the 2010
forecast as outlined in this report for information, and;
2. Recommend Council approve the budget adjustments as detailed in Document 2.
Que le Comité de
l’agriculture et des affaires rurales :
1. Prenne connaissance des résultats du 30 juin et des
prévisions de 2010 présentés dans ce rapport, et ;
2. Recommande
au Conseil d’approuver les ajustements budgétaires décrits dans le document 2.
Quarterly operating/capital status reports are prepared as part of the reporting framework approved by Council. Operating reports present actual year-to-date revenues and expenditures against the amounts previously budgeted for the corresponding period. Year-end forecasts are also presented in the second and third quarter reports. Capital reports provide a detailed listing of the capital projects/programs currently in progress.
Standing Committees will be receiving their respective Second Quarter (Q2) Status reports over the next few weeks. Included in each Q2 report will be a 2010 forecast for each of the programs and services that report to that particular Committee. Although the forecast contained in each Committee report may show either a projected surplus or a deficit, the overall corporate year-end position of the City is expected to show a small surplus. The complete corporate picture will be provided in the Q2 report to the Audit, Budget and Finance Committee in September.
ARAC - Second Quarter Year-to-Date Results &
Forecasted Year End
The year-to-date budget figures are prepared on a “calendarized” basis. Actual expenditures are compared against budget for the corresponding time frame. At this point in the year, the program is in a small surplus position. Staff have prepared forecasts of operating expenses for the full year, taking into account results achieved year to date. As a result of the forecast, it is expected that operation results will be on plan at year-end.
Department/Branch
|
Annual Net Budget
$000 |
YTD Net Actual
$000 |
YTD Net Surplus/(Deficit)
$000 |
Development Review Process (Rural)
|
3,236
|
1,228
|
103
|
Document 1 provides a detailed listing of the status of capital projects/programs of the Departments/Branches reporting to Committee sorted by category, namely, Renewal, Growth and Strategic Initiatives. The report identifies whether projects are on track or not with staff comments inserted where there are delays.
Document 2 is a capital budget adjustment required to increase funding of the Infrastructure Stimulus Fund (ISF) Pathways Prescott Subdivision project as a result of revised estimates and to reduce the authority and financing of four Infrastructure Stimulus Funded (ISF) projects. The decrease to the four Infrastructure Stimulus Funded (ISF) projects is included as a recommendation in the Q2 Transportation Committee report.
ISF Pathways Prescott Subdivision was approved with a budget of $1.4 million. Based on the detailed design and tender responses, project estimates have increased by $773 thousand, to $2.173 million. Of the additional $773,000, $612,000 of tax-supported funding is required, and the remaining $161,000 will be funded from Development Charge Reserves. The $612,000 of tax-supported funding has been identified from within existing ISF projects (without affecting those projects), and the $161,000 will be transferred from Development Charge reserves.
In order to meet the deadlines required for the ISF program, a construction start in August 2010 was required. Therefore, under the Delegated Authority By-law provision for Special Circumstances, the Deputy City Manager of ISCS has provided approval of the award of the contract to the successful bidder.
The purpose of this report is administrative in nature and therefore no public consultation is required. All Departments with rural activities reported to the Committee were consulted in the preparation of this report.
There are no legal or risk management impediments to implementing the recommendation in this Report.
As outlined in the report.
Given the nature of this Committee, all information presented pertains to and has implication to rural communities.
Document 1 – Capital Works in Progress
Document
2 – Capital Budget Adjustment Requiring Council Approval
The results of operations contained in this report will be incorporated in the 2010 Operating Budget Status Report - Q2 - Corporate Status Report, which will be presented to the Audit, Budget and Finance Committee on September 21, 2010.