Town of Ajax 2018 Capital Budget & Long Range Capital Forecast

Transcription

1 Town of Ajax 2018 Capital Budget & Long Range Capital Forecast December 11, 2017 VISION AT PAT BAYLY SQUARE ajax.ca/budgets

2 2018 Capital Budget Capital Budget Project Categories: Studies and Initiatives Technology Town Buildings Parking Lots Vehicles & Equipment Road Network Bridges and Culverts Stormwater Network Parks & Open Spaces 2

3 2018 Capital Budget The total 2018 Capital Budget is $48,987,900 87% ($42.4M) of the capital budget is dedicated to 3 project categories 15% Town Buildings $26.6M 18% Parks & Open Spaces $8.7M 54% Road Network $7.1M 3

4 2018 Capital Budget 6 project categories utilize the remaining 13% ($6.5M) of the capital budget Studies and Other Initiatives $180,000 Technology $430,000 Storm Water Network $43,000 Bridges and Culverts $635,000 Vehicles & Equipment $2,653,800 Parking Lots $2,607,400 4

5 2018 Capital Budget Project Funding Development Charges $21,593,900 Capital Reserves $13,450,100 Federal Gas Tax Debt Reduction Reserve (Slots) Debenture Other $5,644,200 $4,600,000 $2,650,000 $1,049,700 5

6 Federal Gas Tax Revenues (FGT) Over the next 5 years, $20.4M of FGT Revenues will be invested in our transportation network, facility energy projects and greenhouse gas emission reductions Key investments are: Project Local Road Resurfacing & Reconstruction Streetlighting LED Conversion Facilities Upgrades and Lighting Retrofits LEED Certification ARC Phase 2 Amount $9.1M $3.5M $3.1M $2.6M 6

7 Spending Cap Guidelines Spending caps of 65% of annual revenues for the six main capital reserves were set under the Financial Sustainability Plan in order to fund capital demands and still grow the reserve balances There are significant projects that were not included in the spending caps for the following reasons: Projects Pat Bayly Square Facility Roof Replacements Paradise Park Redevelopment Explanation Prefunded in the 2014 implementation of the Financial Sustainability Plan Single priority projects which exceed the annual cap Key Council and Community initiative 7

8 Capital Reserve Allocations The Financial Sustainability Plan (FSP) established sustainable contributions to the capital reserves to maintain the long term health of the reserves Three sources of reserve contributions: General Levy Veridian Revenue Slots Revenue General Levy reserve allocations are approved as part of the Capital Budget/LRCF process 8

9 Reserve Contributions by Source Budget - $15,402,000 $7,392,000 $5,539,900 $2,470,100 General Levy Veridian Slots 9

10 General Levy Allocations to Reserves Budget - $5,539,900 $200,000 $387,000 $762,800 $896,900 $66,700 $60,000 $1,508,600 $1,657,900 Veh./Equip. Replacement Roads Maintenance General Infrastructure Mtce. Building Maintenance Strategic Initiatives Development Post Growth Election 10

11 Veridian Allocations to Reserves Budget - $2,470,100 $123,500 $370,500 $370,500 $494,000 $617,600 $494,000 Veh./Equip. Replacement Building Maintenance Development Roads Maintenance General Infrastructure Mtce. Strategic Initiatives 100% of Veridian revenues are allocated to capital reserves 11

12 Slots Allocations to Reserves Budget - $7,392,000 $369,600 $739,200 $739,200 $739,200 $1,108,800 $1,848,000 $1,848,000 Development Debt Reduction Veh./Equip. Replacement Roads Maintenance General Infrastructure Mtce. Building Maintenance Strategic Initiatives 96% of the Slots revenue is allocated to capital reserves 12

13 Slots Revenue Grants Program ( Grandfathered ) Agency Amount Ajax Pickering Hospital $125,000 IMPACT Ajax & Ajax Community Fund Use Amount IMPACT Ajax $104,300 Community Fund Flow Through Grants 33,100 Community Fund Perpetual Fund 33,100 Total $295,500 13

14 Slots Revenue and Property Tax The Slots revenue continues to contribute directly to the base operating budget, reducing property taxes annually by $1,930,800 Debt - $1,635,300 Lowering amount of Long Term Debt Reducing Impact of Existing Debt Funding of Community Initiatives - $295,500 Ajax Pickering Hospital IMPACT Ajax & Ajax Community Fund 14

15 Advancement of Capital Initiatives Throughout the year, the Town actively pursues funding opportunities from the Provincial and Federal Governments This allows for new initiatives or the advancement of forecasted priorities without impacting other capital projects The ability to respond to and leverage these opportunities as they arise is made possible through the Capital Contingency Reserve 15

16 Provincial / Federal Funding Successful funding applications in the amount of $1.8M include: Canada 150 Infrastructure Program Quaker Meeting House Clean Water and Wastewater Fund 8 projects related to Storm Water Management FCM Municipalities for Climate Innovation Program Community Climate Adaptation Plan 2018 funding applications include: Municipal Greenhouse Gas Challenge Fund Ontario Municipal Commuter Cycling Program 16

17 Town of Ajax 2018 Capital Budget & Long Range Capital Forecast December 11, 2017 VISION AT PAT BAYLY SQUARE ajax.ca/budgets