The 2018 Staff Recommended Rate Supported Operating and Capital Budgets for the City of Toronto’s Solid Waste Management Services, Toronto Water and Toronto Parking Authority were presented at the City’s Budget Committee today.
“The proposed rate supported budgets support fiscal sustainability and will ensure the City delivers high quality services and makes improvements to our aging infrastructure,” said Councillor Gary Crawford (Ward 36 Scarborough Southwest), Chair of the City’s Budget Committee. “These budgets will fund important initiatives such as keeping our blue bin recycling stream clean, opening a new organics processing facility, basement flooding remediation and phase one of the Don and Central Waterfront Project, which will enhance the quality of stormwater released into Toronto’s environment.”
The Solid Waste Management Services budgets support the goals of providing effective and efficient waste management services to residents, businesses and visitors, promoting waste diversion and maintaining a clean city. The proposed operating budget of $382.2 million, plus a contribution to the capital reserve of $23 million to fund the capital program, is based on a 1.9 per cent blended rate increase, effective January 1, 2018. In a blended rate scenario, increases vary based on customer group. Differential rates per customer allow for greater financial sustainability and for full cost recovery by customer type.
The 2018 proposed capital budget for Solid Waste Management Services is $114.4 million (composed of a recommended $92.8 million of new capital funds in 2018 and a carry forward funding of $21.6 million from 2017). The 2018-2027 Capital Plan (10-Year Recommended Capital Plan) totals $648.5 million to maintain current assets in a state of good repair and continue the implementation of the Long Term Waste Management Strategy to achieve 70 per cent diversion by 2026.
Toronto Water’s rate supported budget will ensure that the City continues to provide high quality drinking water and wastewater services, build resiliency for extreme storms, manage stormwater, improve lake quality, fix and replace aging infrastructure, and enhance customer service.
The 2018 proposed operating budget recommends a five per cent water rate increase for 2018 and is part of a planned, multi-year budget and infrastructure renewal program that is expected to generate an estimated $1.289 billion in revenue. This includes operating costs of $446.4 million and an $842.6 million contribution to the capital reserve, which will help to fund future construction projects.
The 2018 proposed Capital Budget for Toronto Water is $964 million and the 10-year Capital Plan is $12.8 billion. This funding allows the City to continue to invest in sewer and watermain upgrades, in enhancements to drinking water and wastewater treatment plants and in ongoing basement flooding prevention. Major projects starting in 2018 focus on enhancing the quality of stormwater released into Toronto’s environment, including phase one of the Don and Central Waterfront project and multiple upgrades to the Ashbridges Bay Wastewater Treatment Plant.
The recommended 2018 operating and capital budgets for the Toronto Parking Authority (TPA) are aimed at satisfying the parking needs of the many businesses and communities in Toronto. Approximately 50 cents of every Green P parking revenue dollar is returned to the City by way of the dividends and property taxes the TPA pays. In 2018, the TPA expects to generate approximately $66 million in net revenues for the City, of which 85 per cent will support general City services. The remaining 15 per cent will help fund TPA operating and capital requirements.
The TPA’s proposed 2018-2027 Capital Budget and Plan, with anticipated capital expenditures of $513 million, focuses on balancing infrastructure renewal needs for state of good repair, service improvement and growth to meet anticipated demand for off-street parking. Funding for approximately 35 new car parks and the redevelopment or expansion of 25 existing carparks across the city and the greening of various existing car parks through the Green P Plus program are included in the capital plan.
Budget Committee continues its deliberations on the City’s rate-supported budgets on November 10, followed by a wrapup meeting on November 27. Executive Committee will consider these budgets on November 29 and Toronto City Council will consider them for approval at its meeting December 6, 7 and 8.
Backgrounders, budget notes and other materials are available at http://www.toronto.ca/budget2018.
This news release is also available on the City’s website: http://ow.ly/sgDR30glk7c.
Leave a Reply