Staff Report #10
October 25, 2023
To All Commissioners
Re: Financial Update – Capital Budget Programs – September 30, 2023
Recommendation
That the report be NOTED and FILED.
Background
Summarized in the table below is the 2023 Capital Program Summary for the nine-month period ending September 30, 2023.
Summary of 2023 Capital Budget Program Activity Nine Months Ending September 30, 2023
| Description | Actual | Budget | Amount Under Budget (Over Budget) |
|
| Program | ||||
| Bus replacement | $ 381,230 | $ 12,848,300 | $ 12,467,070 | |
| Facility upgrades | 340,519 | 751,600 | 411,082 | |
| Fare processing equipment | – | 2,495,000 | 2,495,000 | |
| Information systems & hardware | 192,985 | 1,054,000 | 861,815 | |
| Shop & garage equipment | 101,296 | 200,000 | 98,704 | |
| Service fleet replacement | – | 130,000 | 130,000 | |
| Stop upgrades | 37,651 | 941,100 | 903,449 | |
| Bus stop amenities | 354,125 | 578,700 | 224,575 | |
| Fleet radio replacement | – | 625,000 | 625,000 | |
| Smart card program | – | 450,000 | 450,000 | |
| Highbury facility rebuild | – | 2,500,000 | 2,500,000 | |
| Total | $ 1,407,805 | $ 22,574,500 | $ 21,166,695 | |
| Funding | ||||
| Provincial Gas Tax | $ – | $ 7,773,300 | $ 7,773,300 | |
| Capital Program Reserve | 331,932 | 2,325,900 | 1,993,968 | |
| City of London | 816,300 | 2,815,400 | 1,999,100 | |
| City – Federal Gas Tax | – | 7,403,000 | 7,403,000 | |
| ICIP – Provincial | 117,924 | 1,025,400 | 907,476 | |
| ICIP – Federal | 141,650 | 1,231,500 | 1,089,850 | |
| Total | $ 1,407,805 | $ 22,574,500 | $ 21,166,695 | |
The following programs are underway through the first nine months of the year, with narrative focusing on the year-to-date progress.
Bus replacement – Some of the peripheral equipment (cameras, AVL) has started to arrive in anticipation of the receipt of replacement buses beginning in December.
Facility upgrades – Expenditures incurred to date for hoist repairs, lighting, security cameras, painting, interior renovations, and drainage work.
Shop and garage equipment – Expenditures incurred to date relate to the ongoing monthly purchase of shop tools and equipment.
For further details on the above projects whose responsibility fall within Fleet & Facilities, please refer to Staff Report #4, dated October 25, 2023.
Information systems & hardware – Expenditures incurred to date for the purchase of workstations and networking equipment.
Stop upgrades – Expenditures incurred to date relate to pouring of bus stop pads.
Bus stop amenities – Expenditures incurred to date relate to the purchase of bus stop lighting.
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