Below is a brief summary of important information coming to Council, November 25th, 2015.
1. According to the Municipal Government Act, Council must approve the City of Calgary Capital budget on an annual basis (2016).
2. Although the budget approval for Capital is yearly, Council plans and pre-approves a Five-Year Capital Plan (2015-2019).
3. What is being proposed this year that is different from the other budgets? Administration is proposing Shovel Ready Projects, pre-approved and funded projects for 2017, 2018 and 2019 to be brought forward to the 2016 approval period. Note: This does not affect or influence any tax increases.
4. What are the Shovel Ready Projects and what is the dollar value? There is $47.5M worth of projects between 2017 and 2019. These projects have been previously approved, which are listed in the Action Plan.
5. How are we going to accelerate the expenditure of Capital Funds? Administration will present their strategy to Council on November 25th, 2015.
Ward Sutherland, Vice Chair of Priorities and Finance Committee
This content represents the personal views and opinions of the Councillor and should not be taken as a statement of policy of The City of Calgary. The inclusion of any external content does not imply endorsement by The City of Calgary.