The Budget Committee recommends to the Executive Committee that:

1.         City Council approve payment of the tax-supported sinking fund surplus of $9,232,344.10 and $230,621.83 for Water and Wastewater as declared by the Sinking Fund Committee and that these funds be applied to the City’s capital financing requirements.

2.         City Council authorize the appropriate officials to take the necessary action to give effect thereto.

This report requests City Council approval for payment of the 2009 sinking fund surplus in order to fulfil the legislative requirements of the City of Toronto Act, 2006.

The Budget Committee recommends to the Executive Committee that:

1.         City Council accept the donation from the Toronto Community Foundation in the amount of $61,500.00.

2.         City Council accept the in-kind donation of general labour and materials valued at $97,255.00 provided by the following businesses and union locals: 

i.          Teskey Construction;

ii.         United Brotherhood of Carpenters & Joiners, Local 27; and

iii.        Labourers International Unions of North America, Local 183.

3.         City Council authorize the selection of the named unions, on a sole source basis, as pre-selected service providers for this Project.

4.         City Council amend the 2010 Parks, Forestry and Recreation Capital Budget to increase the Hanover Park (Bob Leek) development project by $61,500 from $75,000 to $136,500 gross, funded by the cash donation of $61,500 from the Toronto Community Foundation.

5.         City Council authorize the General Manager of Parks, Forestry and Recreation to enter into appropriate agreements with the Toronto Community Foundation and the named unions and businesses in relation to the financial and in-kind contributions made towards this project, on terms and conditions satisfactory in form and content to the General Manager and City Solicitor.

This report seeks Toronto City Council approval to accept a cash donation in the amount of $61,500.00 from the Toronto Community Foundation and $97,255.00 in the form of in-kind donations from a number of local businesses and unions toward redeveloping Robert (Bob) Leek Park in accordance with the Policy on Donations to the City for Community Benefits.

According to the 2006 amendment to the Policy on Donations to the City for Community Benefits, City Council approval is required to accept donations from any individual or organization where the value of the donation exceeds $50,000.00. The combined financial and in-kind value of this donation is $158,755.00.

The following private corporations and union locals have committed to provide in-kind labour and materials estimated to be $97,255.00 towards the revitalization of the park space:

i.          Teskey Construction;

ii.         United Brotherhood of Carpenters & Joiners, Local 27; and

iii.        Labourers International Unions of North America, Local 183.

The Parks, Forestry and Recreation Division will act as the constructor, pre-approve all plans, and provide oversight of the project through to completion.

At its meeting held September 15, 2009, North York Community Council passed a motion to officially rename Hanover Park, located at Hanover Road and Powell Road, as “Robert (Bob) Leek Park” in honour of the late 25-year veteran fire fighter and his significant contributions to Toronto Fire Services and the citizens of Toronto as a District Chief.  In addition to transforming what is currently an undeveloped vacant parcel of land into usable parkland for the local community, the revitalized Robert (Bob) Leek Park will serve as a monument to the fallen firefighter who perished responding to the Sunrise Natural Gas site explosion in 2008.

The Budget Committee recommends to the Executive Committee that: 

1.         City Council approve a decrease in the Toronto Water total capital project costs of $50.457 million and budget adjustments to the 2009 Capital Budget in order to offset over-expenditures resulting from acceleration of capital projects and unanticipated increases in the cost of delivering other projects totalling $134.704 million which includes carry-forward of $50.767 million to 2010, with offsets from 2009 underspent project of $72.216 million resulting in a net over-expenditure of $62.492 million as detailed in Appendix 1 to the report (April 28, 2010) from the General Manager, Toronto Water.

2.         City Council approve adjustments to the 2010 - 2019 Toronto Water Approved Capital Budget and Plan in order to offset the 2009 increase in reserve funding requirement of $62.492 million due to accelerated and overspent 2009 capital projects comprised of: a net decrease in 2012 capital expenditures and reserve funding of $44.111 million; and, a net decrease in 2013 capital expenditures and reserve funding of $18.391 million.

3.         City Council approve carry forward funding of $50.767 million for unspent 2009 capital projects and adjustments to reduce previously approved carry-forward funding for projects with capital spending in excess of what was planned in the fourth quarter of 2009 as detailed in Appendix 1 to the report(April 28, 2010) from the General Manager, Toronto Water, resulting in no incremental impact on the 2010 Council approved cash flow and reserve funding as detailed in Appendix 1 to the report (April 28, 2010) from the General Manager, Toronto Water.

4.         City Council approve the revised 2010 to 2019 Capital Budget and Plan for Toronto Water as a result of the adjustments above with a total project cost of $1.491 billion, and 2010 cash flow of $720.672 million and future year commitments of $2.894 billion comprised of: cash flows of $720.672 million in 2010 inclusive of carry forward funding of  $50.767 million; $733.718 million in 2011; $646.949 million in 2012; $494.757 million in 2013; $427.179 million in 2014; $196.988 million in 2015; and $332.259 in 2016 to 2019.

5.         City Council approve that funding in excess of the $30 million target in the Rate Stabilization Reserve equal to $38.133 million be transferred from the Rate Stabilization Reserve to the Water Capital Reserve.

6.         City Council authorize and direct the appropriate staff to take the necessary action to give effect thereof.

The Budget Committee recommends to the Executive Committee that: 

1.         City Council approve the following cash flow adjustments to the Toronto Public Library Board 2009 and 2010 approved capital budgets:

a i.       advance $1,434,000 of debt funding for Toronto Reference Library to 2009 from 2010, offset by an equivalent deferral of Section 37 funding from 2009 to 2010;

a ii.      defer $1,434,000 of debt funding for three capital projects (Virtual Branch Services, Self-Service and Technology Asset Management Program) from 2009 to 2010;

b i.       advance $1,227,570 of debt funding to 2009 from 2010 for three capital projects (Toronto Reference Library, Multibranch and Cedarbrae) proceeding ahead of schedule; and

b ii.      defer $1,227,570 of debt funding from 2009 to 2010 for five capital projects (Brentwood, Malvern, Bloor/Gladstone, Virtual Branch Services and Thorncliffe) experiencing cash flow delays.

The purpose of the letter is to request City Council approval of technical cash flow adjustments to the 2009 and 2010 approved capital budgets which have no net impact on the annual debt levels approved by Council or the total budget amount for individual projects.

Technical budget adjustments contained in this report are considered a normal part of managing the capital program, as long as the adjustments do not result in an increase to approved debt levels.