What is this capital budget? How is it different from the City’s other budget plans?
In the City’s annual operating budget there is an allocation for capital spending which funds smaller capital investments and projects which are generally “one-time” in nature. This budget is usually approved early in the year with projects taking place throughout the year.
This capital budget is an annual commitment. It is a much smaller part of the City’s overall capital budget which includes large multi-year projects like water treatment plants or community centres, and involves funding from at least one of the Provincial or Federal governments.
What percentage of the operating budget is the Capital budget in 2019?
The full budget approved by Council on December 10, 2018 was $304,677,022. The Capital Budget accounts for 6% of the total 2019 Operating Budget. The larger capital projects which are multi-year and cost-shared are funded through debt payments which for 2019 totaled $37.7M or 12.4% of the City’s budget.
Why isn't the full capital listing available for my comment?
A number of the initiatives are on the listing as a result of life safety or engineering concerns noted throughout an inspection process and therefore we are not seeking feedback on these projects.
What is the next step for the capital plan
Once feedback is collected, Council will discuss the plan at an upcoming Committee of the Whole meeting and then recommendations will be brought forward to a public meeting of Council for a vote. To stay connected about the decisions associated with the capital out of revenue plan, register on this page.