2018-2022 Financial Plan

FINANCIAL PLAN OVERVIEW

Capital Program Status of 2017 Capital Projects

The budget for the 2017 Capital Works Program is just over $127 million, with funding coming from multiple sources, including approximately $50 million from Development Cost Charges. The 2017 budget is higher than the budget in subsequent years because it includes projects approved in prior years that are not yet complete, but are still a priority. Projects may take several years to deliver and their progress is often dependent on many factors. What is important is that when the projects are ready to proceed, they are in the approved budget with funding in place. The budget for projects that have been started is $97 million and consists of projects that are in various stages as follows:

Some examples of larger, previously approved projects that have extended over one year are:

 Fire Hall No. 4 Construction and Equipment  Parks & Recreation:  Park Acquisitions (various locations)  Leisure Centre Renovations  Road & Drainage Works:  240 St. (Lougheed Hwy. – 104 Ave.)  128 Ave. (216 St. – 224 St.)  203 St. (Lougheed Hwy. – Golden Ears Way)  Water Reservoirs Works:

 270A St. Reservoir  McNutt Reservoir  Grant – Albion Reservoir Expansion

Projects that are not complete at the end of 2017 remain in the Capital Plan. They are reviewed at year-end and the projects as well as the associated funding are carried forward to be included in the 2018-2022 Financial Plan when it is amended.

Complete or nearly complete

$24.0M



Well underway

9.0M



 Early stages of design and tendering 51.0M

Early stages of review

13.0M



The budget for projects not yet started is approximately $30 million and is comprised of projects in the following stages:

Reliant on Other Capital Work

$ 9.5M



Land Acquisition Delays

9.0M 7.5M



Other



 Strategic, Staffing & Technical Delays 4.0M

What is important, is that when the projects are ready to proceed, they are in the approved budget and funding is in place.

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