Capital Projects Update - Finance and Administration Report

TOWN OF VIEW ROYAL Finance and Administration Report

TO: Council
DATE: November 5, 2020
FROM: Steven Vella, Manager of Accounting
MEETING: November 10, 2020

Capital Projects Update

RECOMMENDATION:

THAT the Committee receive the November 10, 2020 Capital Projects Update Report for information.

CHIEF ADMINISTRATIVE OFFICER’S COMMENTS:

I concur with the recommendation.

PURPOSE OF REPORT:

To provide Council with information regarding capital project expenditures and projected completion dates.

INFORMATION:

For 2020, the Town has approved capital expenditures of $3,578,125. The attached report outlines budgeted and actual expenditures to October 31, 2020 and current projected completion dates. Due to timing differences between internal reporting timelines and invoices from vendors, there may exist variances between reported costs and actual costs of some projects. As invoices are processed, a more complete calculation of actual variances will be made.

RECOMMENDATION:

THAT the Committee receive the November 10, 2020 Capital Projects Update Report for information.

SUBMITTED BY:
S. Vella, Manager of Accounting

REVIEWED BY:
D. Christenson, Director of Finance