Staff Report #12
April 29, 2020
To All Commissioners
Re: Financial Update – Capital Budget Programs – March 31, 2020
Recommendation
That the report be NOTED and FILED.
Background
Summarized in the table below is the 2020 Capital Program Summary for the three-month period ending March 31, 2020, noting the budget reflects the Recosted 2020 Capital Budget Program (Staff Report #7, April 29, 2020).
Summary of 2020 Capital Budget Program Activity
Three Months Ending March 31, 2020
| Description | Actual | Budget | Amount
Under Budget (Over Budget) |
|
| Program | ||||
| Stop Upgrades | $ – | $ 240,700 | $ 240,700 | |
| Service Fleet | 33,635 | 130,000 | 96,365 | |
| Shop Equipment | 93,973 | 236,200 | 142,227 | |
| Software and Hardware | 26,074 | 700,000 | 673,926 | |
| Facility Upgrades | 27,652 | 560,600 | 532,948 | |
| Bus Replacement (16) | 68,421 | 9,488,000 | 9,419,579 | |
| Bus Expansion (1) | – | – | – | |
| Bus Stop Amenities | – | 550,000 | 550,000 | |
| Operator Barriers | – | 1,468,900 | 1,468,900 | |
| Fleet Radio Replacement | – | 625,000 | 625,000 | |
| TMP 2030 – BRT Strategy | – | 1,500,000 | 1,500,000 | |
| Fare Processing Equipment | – | 1,862,100 | 1,862,100 | |
| Smart Card Program | – | 325,000 | 325,000 | |
| Total | $ 249,755 | $ 17,686,500 | $ 17,436,745 | |
| Funding | ||||
| Provincial Gas Tax | $ – | $ 7,351,300 | $ 7,351,300 | |
| Capital Program Reserve | 153,682 | 1,296,900 | 1,143,218 | |
| City of London | 96,073 | 7,135,000 | 7,038,927 | |
| Federal – ICIP | – | 220,000 | 220,000 | |
| Provincial – ICIP | 183,300 | 183,300 | ||
| Federal Gas Tax | – | 1,500,000 | 1,500,000 | |
| Total | $ 249,755 | $ 17,686,500 | $ 17,436,745 | |
The following programs are underway through the first three months of the year, with narrative focusing on the year-to-date progress.
Service Fleet – The replacement vehicle for the Inspector fleet was purchased and has been fully outfitted and placed into service. The remaining budget is for a second vehicle and has yet to be sourced.
Shop Equipment – Expenditures incurred to-date relate to the ongoing monthly purchase of shop tools and equipment as well as a scrubber. 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 have been for generator upgrades (both facilities), boiler replacement (Wonderland), and an updated sewer connection (Wonderland). A few other projects are underway with the remainder expected to be completed by year end.
Bus Replacements (16) – Expenditures incurred to-date are for a portion of the ancillary equipment. The buses are scheduled for line entry in mid-May providing there are no additional delays. The New Flyer facility was closed for the first two weeks of April.
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