Staff Report #8 – Re: Financial Update – Capital Budget Programs – August 31, 2018

Staff Report #8

September 26, 2018

To All Commissioners

Re: Financial Update – Capital Budget Programs – August 31, 2018


That the report be NOTED and FILED.


Summarized in the table below is the 2018 Capital Program Summary for the eight month period ending August 31, 2018.

Summary of 2018 Capital Budget Program Activity

Eight Months Ending August 31, 2018

Description  Actual  Budget Amount Under Budget (Over Budget)
Stop Upgrades $ 91,828  $ 110,000  $ 18,172
Service Fleet 33,971 40,000 6,029
Shop Equipment 43,113 200,000 156,887
Software and Hardware 134,767 600,000 465,233
Facility Upgrades 153,692 300,000 146,308
Bus Replacement (8) 2,244,300 4,560,800 2,316,500
Bus Expansion (4) 202,305 2,378,400 2,176,095
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 605,000 605,000
Total $ 2,903,976  $ 12,414,200  $ 9,510,224
Provincial Gas Tax $ 121,805 $ 5,502,200  $ 5,380,395
Capital Program Reserve 181,875 627,000 445,125
City of London 2,600,297 4,785,000 2,184,703
Federal Gas Tax 1,500,000 1,500,000
Total $ 2,903,976  $ 12,414,200  $ 9,510,224

The following programs are underway through the first eight months of the year, with narrative focusing on the YTD progress.

Stop Upgrades

The costs incurred to-date are attributable to the remaining expenditures from the 2017 shelter installs as well as cement pads required for 2018 service improvements. 10 shelters budgeted in 2018 have been ordered and scheduled for installation in late January due to manufacturing delays.

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. This budget is utilized throughout the year as equipment and tools are required.

Software and Hardware

The costs incurred to-date are attributable to the replacement of the Specialized Scheduling System and other workstation and networking equipment replacements. Work on these projects is scheduled to continue for the remainder of the year.


Facility Upgrades

Expenditures incurred to-date relate to the purchase of high speed doors for the fuel service lanes, repairs to the maintenance inspection pit and also new office construction. The remaining projects scheduled for 2018, include repairs to curbing and parking lot asphalt, reinforcement of columns in A and B barn, and grating to be replaced in B barn.

Bus Purchases (Bus Replacement & Bus Expansion)

The costs incurred to-date are attributable to the early purchase of ancillary equipment and inspection costs required for the 2018 bus expansion and replacement projects as well as four buses were received in mid-August. The outstanding order is scheduled for arrival in late 2018.

The remaining programs are scheduled to commence in the remainder of 2018. 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