TAMRMS#: B06
4.1
REQUEST FOR DECISION
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Operating & Capital Carry Forwards & Completed Projects
Presented by: Suzanne Findlay, Manager Financial Services, Financial & Strategic Services
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RECOMMENDED MOTION(S)
recommendation
1. That the 2025 Municipal Capital Carry Forward amount of $455.8 million, which includes a $4 thousand budget increase provided as attachment titled “Municipal Capital Projects - Carry Forward” be approved.
2. That the residual balances remaining in the 2025 Municipal Capital closed projects in the amount of $1.1 million provided as attachment titled "Municipal Capital Projects - Closed" be uncommitted within their respective funding sources.
3. That the 2025 Utility Capital Carry Forward amount of $117.7 million provided as attachment titled "Utility Capital Projects - Carry Forward” be approved.
4. That the residual balances remaining in the 2025 Utility Capital completed projects in the amount of $0.5 million provided as attachment titled "Utility Capital Projects - Closed" be uncommitted within their respective funding sources.
5. That the 2025 Municipal and Utility Operating Carry Forward amount of $5.9 million provided as attachment titled “Operating Carry Forwards” be approved.
6. That reserve balances be updated to reflect the realized net savings from completed Municipal and Utility Operating projects provided as attachment titled “Residual Balances of Completed Projects”.
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SUMMARY
This report provides Council with an overview of the Municipal and Utility Carry Forwards and Closed Projects for consideration of approval.
ALIGNMENT TO COUNCIL DIRECTION OR MANDATORY STATUTORY PROVISION
Council Policy C-FS-11 Operating and Capital Carry Forwards and Closed Projects requires that all Operating Carry Forward requests and a list of Capital Carry Forward requests shall be provided to Council as part of the report on proposed year end transfers, for consideration and approval.
BACKGROUND AND DISCUSSION
The purpose of a capital carry forward is to ensure that there is adequate funding available to complete Council approved capital projects with overlapping budget years.
The purpose of an operating carry forward is to ensure that there is adequate funding available to complete projects and one-time initiatives in a given time frame without impacting tax or the operating budget in subsequent years.
Municipal Capital Carry Forwards and Closed Projects
In 2025 the City had a total of 159 Municipal Capital Projects, of which:
• 117 projects are requested to be carried forward with an approved budget of $455.8 million.
• 42 projects can be closed with a project surplus of $1.1 million.
An increase of $3,800 for a truck plow with sander is being requested due to costs exceeding the budget.
The $1.1 million realized net surplus on the closed projects is recommended to be uncommitted within their respective funding sources for allocation to future Council approved projects.
Utility Capital Carry Forwards and Closed Projects
In 2025 the City had a total of 55 Utility Capital Projects of which:
• 39 projects are requested to be carried forward with an approved budget of $117.7 million.
• 16 projects can be closed with a projected surplus of $0.5 million.
The $0.5 million realized surplus on the closed projects is recommended to be uncommitted with their respective funding sources for allocation to future Council approved projects.
Operating Carry Forwards and Completed Operating Projects with Residual Balance
The recommended operating carry forward total of $5.9 million, as detailed in the attachment titled Operating Carry Forwards is comprised of:
Municipal Projects
• $1.9 million funded from the 2025 operating budget
• $1.5 million funded from reserves or grants relating to 2025 projects
• $2.4 million funded from reserves relating to prior year projects
Utility Projects
• $47 thousand funded from reserves
During the year the City completed a number of operating projects funded from reserves. Of the completed projects there was a net residual savings of $672 thousand. These are detailed in the attachment titled “Residual Balances of Completed Projects” It is recommended that these funds be uncommitted for future Council approved projects.
STAKEHOLDER COMMUNICATIONS OR ENGAGEMENT
None at this time.
IMPACTS OF RECOMMENDATION(S)
Financial:
Approval to carry forward budgets for Municipal Capital and Utility Capital will ensure that Administration can complete Council approved projects.
Approval to un-commit within or transfer to appropriate reserves the realized net savings from closed projects ensures that dollars will be available for future capital and operating needs which represents prudent financial planning.
Compliance & Legal:
None at this time.
Program or Service:
Approval of funds ensures that projects still in progress will have the appropriate funds to complete.
Organizational:
None at this time.
Risks
None at this time.
ALIGNMENT TO PRIORITIES IN COUNCIL’S STRATEGIC PLAN
Not applicable.
ALIGNMENT TO LEVELS OF SERVICE DELIVERY
N/A
IMPACTS OF ALTERNATIVES CONSIDERED
If Council does not wish to support the recommendation, the following alternatives could be considered:
Specific projects should be identified by Council to not proceed with no other expenses incurred and the funds returned to the funding sources as per Council Policy.
Financial:
None at this time.
Compliance & Legal:
None at this time.
Program or Service:
If funds recommended to be carried forward are not approved, projects/programs still in progress will not have the appropriate funds to complete.
Organizational:
None at this time.
Risks
None at this time.
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Report Date: February 17, 2026
Author(s): Suzanne Findlay
Department: Financial & Strategic Services
Department Director: Anne Victoor
Managing Director: Diane McMordie
Chief Administrative Officer: William Fletcher