Finance and Administration Report

TO: Committee of the Whole
DATE: September 12, 2018
FROM: S. Vella, Manager of Accounting
MEETING: September 18, 2018

Capital Projects Update

RECOMMENDATION:

THAT the Committee receive the Capital Projects Update report dated September 12, 2018 for information.

CHIEF ADMINISTRATIVE OFFICER’S COMMENTS:

I concur with the recommendation.

PURPOSE OF REPORT:

To inform Council regarding the status of 2018 capital projects and anticipated completion dates.

INFORMATION:

Included in the approved 2018-2022 Financial Plan is a total of $3,099,085 for 2018 capital projects. The attached report outlines budgeted and actual expenditures by capital project to August 31, 2018 with anticipated completion dates. Note that in some instances a capital project may be listed as “Complete” but the year to date expenditures are significantly lower than the budget for that project. This is due to the practice of only processing payment after services are delivered and goods received. 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 Capital Projects Update report dated September 12, 2018 for information.

SUBMITTED BY: Steven Vella, Manager of Finance

REVIEWED BY: Dawn Christenson, Director of Finance