Finance and Administration Report - Capital Project Update
Staff report providing an update on capital project expenditures and projected completion dates for the year 2019.
TOWN OF VIEW ROYAL
Finance and Administration Report
TO: Committee of the Whole DATE: December 5, 2019 FROM: Steven Vella, Manager of Accounting MEETING: December 10, 2019
Capital Project Update
RECOMMENDATION:
THAT the Committee receive the December 5, 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 November 30, 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.
It is expected that 82% of planned capital projects will be completed in 2019.
RECOMMENDATION:
THAT the Committee receive the December 5, 2019 Capital Project Update Report for information.
SUBMITTED BY: S. Vella, Manager of Accounting
REVIEWED BY: D. Christenson, Director of Finance
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