APPROVE,
Moved by Councillor Pootmans, that the Administration Recommendations
contained in Report PFC2016-0713 be approved, after amendment, as
follows:
That
the Priorities and Finance Committee recommend that Council:
1. Approve
Administration’s Recast to the previously approved 2015-2018 Capital Budget,
as identified in Attachment 1;
2. Approve 2015
July 1 to 2016 July 31 revisions to the previously approved 2015-2018 Capital
Budget, as identified in Attachment 2;
3. Receive for
information previous revisions to the 2015-2018 Capital Budget in Attachment
3;
4. Authorize
Administration to make expenditures related to cash flow timing changes as outlined
in the investigation section of this report and update Council Policy CFO006
to reflect new levels of approval for capital budget cash flow timing changes
as identified in Attachment 5; and
5. Direct
Administration to proceed with:
a. Recasting the
2017 capital budget by early 2017;
b. Repositioning
the capital budget to identify funding for potential new and currently unfunded
projects and return to Council at the November 2016 Mid-Cycle Adjustment deliberations;
and
c. Recommending
funding allocations for investment projects no later than when The City
finalizes its 2017 property tax rate.
6. And further, that the
Priorities and Finance Committee forward this report to the 2016 September
26 Regular Meeting of Council as an item of Urgent Business.
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