TAMRMS#: B06
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Increase to 2019 Transit Replacement Budget
Presented by: Diane McMordie, Director, Finance & Assessment/CFO
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RECOMMENDED MOTIONS
recommendation
1. That Council approve an increase of $754,000 to the budget for project 419350 Transit Bus Lifecycle Replacement; and
2. That the increase be funded by a withdrawal of up to $754,000 from the Public Transit Reserve - Schedule C4 of C-FS-01 Financial Reserves or other grants that may become available.
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PURPOSE OF REPORT
The purpose of this report is to present a recommendation that Council increase the approved budget to fully fund the replacement of 5 buses.
ALIGNMENT TO PRIORITIES IN COUNCIL’S STRATEGIC PLAN
N/A
ALIGNMENT TO LEVELS OF SERVICE DELIVERY
N/A
ALIGNMENT TO COUNCIL DIRECTION OR MANDATORY STATUTORY PROVISION
N/A
BACKGROUND AND DISCUSSION
The Transit Replacement budget of $4,040,000 includes the replacement of five 60 foot diesel busses. During the competitive procurement process the cost to acquire the five busses exceeded the budget by $754,000. Council is being asked to approve the necessary budget adjustment to fully fund the five diesel busses.
STAKEHOLDER COMMUNICATIONS OR ENGAGEMENT
N/A
IMPLICATIONS OF RECOMMENDATION(S)
Financial:
There are sufficient funds in the Public Transit Reserve to support this budget increase with no property tax impact.
Legal / Risk:
None at this time
Program or Service:
None at this time
Organizational:
None at this time
ALTERNATIVES AND IMPLICATIONS CONSIDERED
As the Transit Busses have been purchased no alternatives presented themselves.
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Report Date: November 16, 2020
Author: Diane McMordie
Department: Finance & Assessment
Deputy Chief Administrative Officer: Kerry Hilts
Chief Administrative Officer: Kevin Scoble