Capital Project Update

Finance and Administration Report

TO: Committee of the Whole DATE: November 6, 2019 FROM: Steven Vella, Manager of Accounting MEETING: November 12, 2019

Capital Project Update

RECOMMENDATION: THAT the Committee receive the November 12, 2019 Capital Project 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 2019, the Town has approved capital expenditures of $3,639,512. The attached report outlines budgeted and actual expenditures to October 31, 2019 and current projected completion dates. Due to timing differences between internal reporting timelines and invoices from the vendor, 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. Staff will continue to monitor progress and will inform Council in a timely manner of any anticipated significant variances from budget.

RECOMMENDATION: THAT the Committee receive the November 12, 2019 Capital Project Update Report for information.

SUBMITTED BY: S. Vella, Manager of Accounting

REVIEWED BY: D. Christenson, Director of Finance