Staff Report #10
October 28, 2020
To All Commissioners
Re: Financial Update – Capital Budget Programs – September 30, 2020
Recommendation
That the report be NOTED and FILED.
Background
Summarized in the table below is the 2020 Capital Program Summary for the nine-month period ending September 30, 2020.
Summary of 2020 Capital Budget Program Activity Nine Months Ending September 30, 2020
| Description | Actual | Budget | Amount Under Budget (Over Budget) |
|
| Program | ||||
| Stop Upgrades | $ – | $ 440,700 | $ 440,700 | |
| Service Fleet | 98,773 | 130,000 | 31,227 | |
| Shop Equipment | 186,809 | 236,200 | 49.391 | |
| Software and Hardware | 44,922 | 700,000 | 655,078 | |
| Facility Upgrades | 91,587 | 560,600 | 469,013 | |
| Bus Replacement (16) | 6,436,486 | 9,488,000 | 3,051,514 | |
| Bus Expansion | – | – | – | |
| Bus Stop Amenities | – | 550,000 | 550,000 | |
| Operator Barriers | 1,227,994 | 1,468,900 | 240,906 | |
| Fleet Radio Replacement | – | 625,000 | 625,000 | |
| TMP 2030 – BRT Strategy | – | 1,500,000 | 1,500,000 | |
| Fare Processing Equipment | – | 1,995,000 | 1,995,000 | |
| Smart Card Program | 29,846 | 325,000 | 295,154 | |
| Total | $ 8,116,417 | $ 18,019,400 | $ 9,902,983 | |
| Funding | ||||
| Provincial Gas Tax | $ 29,846 | $ 5,349,300 | $ 5,319,454 | |
| Capital Program Reserve | 330,503 | 1,296,900 | 966,397 | |
| City of London | 5,459,287 | 7,135,000 | 1,675,713 | |
| Federal – ICIP | – | 220,000 | 220,000 | |
| Provincial – ICIP | – | 183,300 | 183,300 | |
| Safe Restart Funding | 1,227,994 | 1,468,900 | 240,906 | |
| Federal Gas Tax | 1,068,786 | 2,366,000 | 1,297,214 | |
| Total | $ 8,116,417 | $ 18,019,400 | $ 9,902,983 | |
The following programs are underway through the first nine months of the year, with narrative focusing on the year-to-date progress.
Service Fleet – The replacement vehicle for the Inspector fleet was purchased and has been fully outfitted and placed into service. A van was purchased for the mobile mechanic function and has been fully outfitted with racking, lighting, etc. and is nearly ready for service.
Shop Equipment – Expenditures incurred to date relate to the ongoing monthly purchase of shop tools and equipment as well as a scrubber, hoist and tire machine. This budget is utilized throughout the year as equipment and tools are required.
Software and Hardware – Expenditures incurred to date for the purchasing of workstations and networking equipment.
Facility Upgrades – Expenditures incurred to date have been for generator upgrades (both facilities), boiler replacement (Wonderland), an updated sewer connection (Wonderland), repairs to damaged columns (Highbury), and HVAC upgrades in the server room. The roof replacement at Highbury and lighting upgrade at Wonderland is currently underway with the remainder expected to be completed by year-end.
Bus Replacements (16) – All replacement buses have arrived and are currently being outfitted for service with five in service at the time of writing. Costs incurred to date are for ancillary equipment, inspections and 11 of the 16 buses that had been received prior to September 30, 2020.
Operator Barriers – All permanent barriers have been received with 15 temporary barriers left to be replaced at time of writing. As the replacement buses are outfitted for service, the remaining barriers will also be installed, completing the project.
Smart Card Program – additional replacement routers purchased.
Administration will continue to monitor actual to budget performance and report to the Commission on a monthly basis.
Recommended by:
Mike Gregor, Director of Finance
Concurred in by:
Kelly S. Paleczny, General Manager