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Capital Budget Overview Nov. 9: Increase of 1.25% for infrastructure, more transit funding, 12 new initiatives

Committee of the Whole – Budget, 9:30am, Council Chambers

The Nov. 9 Committee of the Whole – Budget meeting will provide an overview of the 2018 Capital Budget. Discussion of the Capital Budget will continue with a review at the Dec. 1 COW – Budget meeting. Recommendations will go to City Council Dec. 11 for final approval.

I serve as Chair of COW-Budget. Watch for more details on these items, and My Take.

Overview:

  • The budget reflects incremental tax supported funding of 1.25% ($1.9 million) from the operating budget to support infrastructure requirements of the city.
  • There are 12 new capital initiatives in 2018 totalling $4.1 million (net city $1.5 million).
  • Transit is underfunded. As part of the 2018 proposed capital budget, $787,000 of tax supported capital funding has been included to support transit facility and IT requirements in advance of the longer-term funding strategy.
  • The capital budget uses a variety of sources for funding the program. Tax supported
    funding (cash and debt funding from the operating budget) continues to be the largest
    component accounting for roughly half (57%) of the overall funding envelope. The
    budget continues to rely on the cash flow from development charge revenue to fund
    growth projects (8%) and park dedication reserve fund (4%) and other recreation facility
    renewal reserve funds for parks & recreation assets.
  • The city’s debt policy limits the total debt charges and liabilities as a percentage of revenues to 12.5% (provincial legislated limit is 25%). The city is at the debt limit over the next two years as the city is still required to make the last hospital cash commitment of approximately $15.5 million, after which debt capacity will become available.

Read the full agenda and related reports here: COW Budget Nov. 9

Residents can register to delegate (speak to committee) on any item on the agenda for up to 10 minutes. Advance registration is required: Register as a Delegation

Any motions or recommendations arising from this meeting will go to City Council for final approval Dec. 11, 6:30 pm, in Council Chambers. Residents can delegate at council for up to five minutes. Advance registration is required: Register as a Delegation

If you already spoke on an item at Committee, you can speak to Council, but must bring new information on that item.

 

Written by Marianne Meed Ward

A Better Burlington began in 2006 after my neighbours said they felt left out of city decisions, learning about them only after they’d been made.

As journalist for 22 years, I thought “I can do something about that” and a website and newsletter were born. They’ve taken various forms and names over the years, but the intent remains: To let you know what’s happening at City Hall before decisions are made, so you can influence outcomes for A Better Burlington.

The best decisions are made when elected representatives tap the wisdom of our community members, and welcome many different perspectives.This site allows residents to comment and debate with each other; our Commenting Guidelines established in 2016 aim to keep debate respectful.

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