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2009 Capital Budget and Four Year Forecast January 14, 2009

2009 Capital Budget and Four Year Forecast January 14, 2009. Presentation Overview. Budget overview 2009 capital financing summary Five year capital plan Departmental highlights Recommendation Timetable – next steps. Overview – 2009 Expenditures. Preliminary approvals $5.1

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2009 Capital Budget and Four Year Forecast January 14, 2009

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  1. 2009 Capital Budget and Four Year Forecast January 14, 2009

  2. Presentation Overview • Budget overview • 2009 capital financing summary • Five year capital plan • Departmental highlights • Recommendation • Timetable – next steps

  3. Overview – 2009 Expenditures Preliminary approvals $5.1 Today’s approvals $7.4 Total for 2009 $12.5

  4. Overview – 2009 Financing $4.7 of external contributions in 2009

  5. Overview – Strategic Plan D1 & D5: reduce basement flooding and sewer backups, surface flooding - $3.7 m on Crescent Park & Thunder Bay B5 & D1: supply serviced developable land - $1.2 m on Garrison Road D3: improve functionality/maint. of Town facilities - $1.1 m on Crystal Ridge & Leisureplex A3: increase parks & open space - $0.5 m on Crystal Beach East, B. Connolly Field, Crystal Ridge Park C5: balance burden of investment – PSAB implementation, reserve benchmarks, access Federal/Provincial funding

  6. Overview – 2009 Environment • Infrastructure spending is a critically important economic stimulus • AMO pushing Prov/Feds for increased/flexible funding for municipal infrastructure • BCF Funding– prove that we are doing more or doing it sooner • Gas tax – maintain base spending We need to be prepared – this budgets does that

  7. 2009 Capital Budget Financing • External financing of $4.7 m. • $4.4 m of Fed/Prov. Grants • Gas tax ($1.4 m) • MEDT ($0.1 m in 2009 & $0.9 m in 2010) • Investing in Ontario ($1.4 m) • BCF ($1.4 in 2009 & $0.8 in 2010) • $0.3 m municipal drain contributions & donations

  8. 2009 Capital Budget Financing Internal financing of $7.8 m • Council’s strategy of increased reserves • MMAH – financial indicators improving • Contingency plan for slot revenues to reserves • Growth needs to pay for growth • DC study update to consider sewer shortfall

  9. 2009 Capital Financial Impacts Asset Management & Investment Plan

  10. Five Year Capital Plan • Not static • Maximize external grants – be ready and flexible • May change with Council’s direction • re industrial business park, fire facility review, Bay Beach redevelopment, Bridgeburg Neighbourhood Plan etc.

  11. Departmental Highlights Remaining 2009 program & forecast • Community planning & development • Fire • Infrastructure services Questions

  12. Recommendation • That the remaining 2009 capital budget of $7,373,065, as set out in appendix A to report no. CBC-03-09, be approved for a total 2009 capital budget of $12,526,285.

  13. Timetable – Next Steps

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