Finance and Administration Report: Capital Project Update
Report providing status updates and expenditure data for approved 2018 capital projects as of April 30, 2018.
TOWN OF VIEW ROYAL
Finance and Administration Report
TO: Committee of the Whole DATE: May 2, 2018 FROM: Steven Vella, Manager of Accounting MEETING: May 8, 2018
Capital Project Update
RECOMMENDATION: THAT the Committee receive the May 2, 2018 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 2018, the Town has approved capital expenditures of $3,099,085. The attached report outlines budgeted and actual expenditures to April 30, 2018 and current projected completion dates. Due to timing differences between project completion and final invoicing from the vendor, there exists material variances for two completed 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 May 2, 2018 Capital Project Update Report for information.
SUBMITTED BY: S. Vella, Manager of Accounting
REVIEWED BY: D. Christenson, Director of Finance
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