Staff Report #7
November 27, 2019
To All Commissioners
Re: Financial Update – Capital Budget Programs – October 31, 2019
Recommendation
That the report be NOTED and FILED.
Background
Summarized in the table below is the 2019 Capital Program Summary for the ten month period ending October 31, 2019.
Summary of 2019 Capital Budget Program Activity
Ten Months Ending October 31, 2019
| Description | Actual | Budget | Amount Under Budget (Over Budget) | |
| Program | ||||
| Stop Upgrades | $ 199,096 | $ 37,000 | $ (162,096) | |
| Service Fleet | 37,795 | 40,000 | 2,205 | |
| Shop Equipment | 129,258 | 200,000 | 70,742 | |
| Software and Hardware | 36,660 | 600,000 | 563,340 | |
| Facility Upgrades | 375,418 | 500,000 | 124,582 | |
| Bus Replacement (8) | 4,224,937 | 4,748,000 | 523,063 | |
| Bus Expansion (1) | 636,670 | 623,500 | (13,170) | |
| Fleet Radio Replacement | – | 625,000 | 625,000 | |
| TMP 2030 – BRT Strategy | – | 1,500,000 | 1,500,000 | |
| Fare Processing Equipment | – | 1,495,000 | 1,495,000 | |
| Smart Card Program | 162,816 | 500,000 | 337,184 | |
| Total | $ 5,802,650 | $ 10,868,500 | $ 5,065,850 | |
| Funding | ||||
| Provincial Gas Tax | $ 999,623 | $ 4,616,600 | $ 3,616,977 | |
| Capital Program Reserve | 402,809 | 667,000 | 264,191 | |
| City of London | 2,900,218 | 4,084,900 | 1,184,682 | |
| Federal Gas Tax | 1,500,000 | 1,500,000 | – | |
| Total | $ 5,802,650 | $ 10,868,500 | $ 5,065,850 | |
The following programs are underway through the ten months of the year, with narrative focusing on the year-to-date progress.
Stop Upgrades – Expenditures incurred to-date related to the installation of concrete bus stop pads necessary for upcoming service changes.
Service Fleet – The costs incurred to-date are attributable to the purchase of a new service van. The project is complete.
Shop Equipment – Expenditures incurred to-date relate to the ongoing monthly purchase of shop tools and equipment including a sandblaster. This budget is utilized throughout the year as equipment and tools are required.
Software and Hardware – Expenditures incurred to-date for the purchasing of workstations and networking equipment.
Facility Upgrades – Expenditures incurred to-date for the upgrades to lighting in A-Barn, floor and drain repairs in C-Barn and asphalt replacement at the 450 Highbury location.
Bus Replacement (8) & Bus Expansion (1) – Expenditures incurred to-date for eight of the nine buses delivered by October 31, as well as the purchase of ancillary equipment, inspection and prep costs.
Smart Card Program – Expenditures incurred to-date for the purchase of additional smart card stock.
Administration will continue to monitor actual to budget performance and report to the Commission on a monthly basis.
Recommended by:
Mike Gregor, Director of Finance
Concurred in by:
Kelly S. Paleczny, General Manager