2017 Capital Budget. Budget Committee of the Whole. Tuesday, November 1, 2016

Transcription

1 2017 Capital Budget Budget Committee of the Whole Tuesday, November 1, 2016

2 Objectives Capital Planning & Process 2017 Draft Capital Budget Capital Forecast Funding Implications Operating Impacts 2

3 Capital Planning The quality of municipal services manifests itself through the availability and quality of capital infrastructure: a state-of-the-art theatre, award-winning community centres, pools, parks, playgrounds and trails highly valued libraries, arenas and gathering places the critical community connectivity infrastructure of roads, sidewalks, sanitary and storm sewers and water-mains the service-delivery capacity associated with fleet, emergency vehicles, safety and security facilities (fire-halls), office and operational spaces, and information technology systems 3

4 Capital Investments Lake Wilcox Waterfront Promenade Bond Crescent Rural to Urban Terry Fox Tribute at Ransom Parkette Lake Wilcox Splash Pad Philips Ridge Park Rouge Crest Park 4

5 Plans Drive Capital Programs 5 Strategic Plan Richmond Hill Official Plan Transportation Master Plan Parks Plan Recreation Plan Cultural Plan Library Facilities Master Plan Environment Strategy

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7 Capital Budget Strategy June 20 th BCW Council Direction That staff present a 2017 Draft Capital Budget and Ten- Year Forecast that: Aligns with the Town s Strategic Plan Targets a cap on the Tax Supported Capital Program level at an average of $18 million per year as part of the Pay As You Go (PAYG) approach Updates the timing of growth related projects in the Ten-Year Capital Forecast 7

8 Capital Approval Process Capital Workshop Special Council Meeting Ten-Year Capital Planning Education and Training Presentation Annual Capital Budget 2017 Capital Budget - $61.6 million Ten-Year Capital Forecast Ten-Year Capital Forecast - $850.5 million 8

9 2017 Capital Budget Department Capital Budget Environment & Infrastructure Services $33,580,300 Corporate & Financial Services 12,519,700 Community Services Department and Water & Wastewater 7,105,000 Office of the Chief Administrative Officer 6,501,000 Planning & Regulatory Services 525, Capital Budget excluding RHPL $60,231,000 Richmond Hill Public Library 1,367, Capital Budget Consolidated $61,598,500 9

10 2017 Capital Budget Asset Category Capital Budget Facilities $ 14,441,500 Information Technology 12,057,000 Parks 9,853,100 Road 7,557,900 Development Engineering 7,212,500 Stormwater Management 5,174,200 Program 2,830,200 Water & Wastewater 2,472, Capital Budget Consolidated $61,598,500 10

11 2017 Proposed Projects Roads Parks Facilities Water & Wastewater Development Engineering Bayview Ave Sidewalk & Illumination - Stouffville/Bloomington Doncrest Road Reconstruction Lake Wilcox Youth Area Civic Precinct New Fire Station Land Operations Centre Master Plan Phase II Design East Beaver Creek Heat Pump Replacement Castle Rock Drive, Weldrick Road West to Avenue Road Flood Remediation Yonge/Elgin Mills 11

12 2017 Proposed Projects Stormwater Management Elgin Mills Greenway: Elgin West Pond retrofit and Upper East Don Valleyland restoration Information Technology Integrated Financial System, Enterprise Resource Planning Planning Regulatory Management System Customer Relationship Management System Programs Parks, Road Overlay, Sediment Removal from stormwater facilities Fleet & Equipment Replacement (Roads, Parks, Fire Services, Recreation Services, Water Meters) Library Collection Development Computer Hardware & Software Replacement 12

13 2017 Capital Program Funding Funding - $61.6 Million $1.9 $18.5 $22.1 $19.1 Tax Supported Other / Rate Supported Growth External 13

14 $ millions Ten-Year Capital Forecast Trend Draft Existing assets Growth assets Civic Precinct 14

15 Significant Projects Roads Coon's Road Cynthia Crescent Rockport Crescent Elm Grove Ave Blackforest Drive Parks North Leslie Community Park West (3.0ha) (Richview) David Dunlap & Picnic Area North Leslie Community Park East Land West Gormley Community Park Bradstock Park Revitalization Town Park Rehabilitation (2 Year) 15

16 Significant Projects Facilities Civic Precinct Operations Centre Master Plan Phase II Central Library Expansion (Architectural Selection, Building Costs & Collection Development) Indoor Town Wide recreational facility - Richmond Green Soccer (Land, Design & Construction) EBC Accommodation Phase 1, 2, & 3 North Leslie Multi-Purpose Recreational Facility - CC, Pool, Fitness, Twin Pad Arena (Feasibility Study) Water & Wastewater Coon's Road Elmwood Ave Bayview Avenue Reconstruction 16

17 Significant Projects Stormwater Management Beaver Creek Pond B: 28-1 Development Engineering Flood Remediation Project 404 Fly-over Block 21 (Land Acquisition Costs) UMESP Wastewater System Improvements Information Technology Integrated Financial System - ERP System Annual Programs Facilities Buildings (R&R) Public Works - Fleet Replacement Library - Collection Development Public Works - Road Overlay Program IT - Foundational Projects (R&R) Fire - Engine/rescue/aerial vehicles 17

18 Capital Program Funding Funding - $127.6 Million $4.2 $53.5 $31.1 $38.8 Tax Supported Other / Rate Supported Growth External 18

19 Forecast Facilities $ 300,752,200 Town-wide Engineering 114,062,000 Annual Programs 103,558,500 Parks 77,955,300 Roads 43,589,600 Water & Wastewater 34,009,600 Stormwater Management 20,989,900 Information Technology 28,000,000 Total $ 722,917,100 19

20 Capital Program Funding Funding - $722.9 Million $69.2 $283.1 $175.2 $195.4 Tax Supported Other / Rate Supported Growth External 20

21 Funding Implications 21

22 Capital Reserves and Reserve Funds Established by Council to assist with long term financial stability and financial planning Funds set aside for future replacement or acquisition of new assets Internal and external funding sources (operating budget contributions, annual surplus, investment income, DCs, government grants) 22

23 Major Funding Sources for Capital Existing Tax Supported Growth Development Charges Rate Supported CIL of Parkland Federal Gas Tax Federal Gas Tax Proceeds from Hydro Reserve Funds 23

24 Capital Forecast Financial Implications Based on the 2017 Draft Capital Budget and 10 Year Capital Forecast: 24 Tax Supported Capital Reserve Funds (R&R and Cash to Capital) extended to 2027 Growth Capital totaled $336 million funded from Development Charges Reserve Funds Other Capital Reserve Funds totaled $228 million from Water/Stormwater rates, Federal Gas Tax, CIL of Parkland Debt financing may be required to fund capital projects and the unfunded portion of Civic Precinct (already borrowing internally for LED Lights Phase 2 Conversion Project)

25 25 Capital Asset Sustainability Strategy Pay As You Go (PAYG) Capital approach Paying for existing/replacement capital based on prioritized needs Preserving reserve funds to achieve long term fiscal sustainability Optimal contribution target equal anticipated costs of the Tax Supported Capital Asset Program Steps to move towards PAYG Increase annual contribution in the operating budget Council approved equivalent of 1% of a tax rate each year until 2025 Incremental increases from $7.9 million to $18.0 million Cap annual Tax Supported Capital Asset Program Average annual expenditures in 10 year forecast decreased from $23 million to $21.6 million ($20.1 million for 2017 to 2019)

26 Tax Supported Capital to 2027 Expenditures, Contribution and RF Impact (20) (40) (60) (80) (100) (120) (140) Do Nothing Reserve Fund Balance Reserve Fund Balance Y Forecast Y Forecast 2017 Contribution 2016 Contribution 26

27 Growth Capital to 2027 Expenditures and RF Impact (50.00) DC Reserve Balance Town Wide Engineering Public Works General Government Fire Library DC Indoor Recreation Outdoor Recreation (100.00) 27 (150.00) *Next Development Charges Update in 2019

28 Other Capital Stormwater to 2027 Expenditures and RF Impact (5.00) (10.00) Reserve Balance Others Sediment Removal Flood Remediation Valleylands SWM Storm Sewers (15.00) 28 (20.00) *Stormwater Management Financial Plan Update currently underway

29 Financial Impact Operating Budget 2017 Added Infrastructure Roads (285 metres) Sidewalk (1,075 metres) Streetlights (3,270 metres) Watermain (1,795 metres) Lake Wilcox Youth Area (1.05 Ha) Casa Subdivision Parkette (0.947 Ha) Oak Ridges Bayview Median (566 sq. metres) Computer Software and Hardware Maintenance (ERP, CRM, RIM) 29

30 30 Discussion

31 31 Capital Project Financial Status

32 Capital Project Financial Status Annual report that keeps Council apprised of ongoing approved capital projects Recommend the net closure of 151 projects with approximately $2.7 million being returned to source Project consolidations, budget and funding adjustments with net funds of $3.1 million to be returned to source 32

33 Capital Project Financial Status (cont d) 388 projects still in progress 90.5% are projects adopted between 2013 to % Financially Committed or in Implementation/Construction Phase Period Number of Projects Outstanding Commitments ($millions) 2012 & Prior Total: 388 $

34 Capital Project Financial Status (cont d) 34

35 35 Discussion