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INS-18-029 - Financial Plan - Kitchener Water Distribution System
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INS-18-029 - Financial Plan - Kitchener Water Distribution System
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Last modified
6/7/2018 3:32:30 PM
Creation date
6/7/2018 3:32:29 PM
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Reports
Department Name
Infrastructure Services
Date of Report
5/23/2018
Date of Meeting
6/18/2018
Document Relationships
CIS Agenda - 2018-06-18
(Message)
Path:
\Public Access Folders\Agendas\Standing Committees - 02-01-243\Comm & Infra Serv\2018
CIS Minutes - 2018-06-18
(Message)
Path:
\Public Access Folders\Minutes\Standing Committees - 02-01-241\Comm & Infra Serv (Dec 2010-Pres)\2018
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REPORT: <br />The requirements of the Financial Plan are outlined in Ontario Regulation 453/07 <br />(Section 3) as follows: <br /> Details of the proposed or projected financial position of the drinking water <br />system <br /> Details of the proposed or projected financial operations of the drinking water <br />system <br />projected gross cash receipts <br />and gross cash payments <br /> Details of the extent to which the information described in the above relate <br />directly to the replacement of lead service pipes <br />The financial plan has been developed using Council-approved budgets, capital asset <br />data and other financial forecasts. The highlights of the Financial Plan are as follows: <br /> An annual operating surplus and accumulated surplus is expected for each of the <br />six years covered by the plan, primarily as a result of the significant prior and <br />ongoing investment in capital assets <br /> Cash flow is slightly negative for certain years of the forecast this is as a result <br />of continued spending on the accelerated infrastructure program. <br /> In light of the above, the drinking water system is considered to be financially <br />viable as required by Ontario Regulation 453/07 (Financial Plans). <br />Refer to the attached Financial Plan for the detailed analysis. <br />ALIGNMENT WITH CITY OF KITCHENER STRATEGIC PLAN: <br />The recommendation of this report supports the <br />vision through the delivery of core service. <br />The Financial Plan relates to the Foundation Plan Efficient and Effective Government <br />Proactively communicate with Kitchener residents in an <br />effortto share information; educate and engage the public, and promote enterprises, <br />programs and services; to create a corporate culture where internal communications is <br />FINANCIAL IMPLICATIONS: <br />None. <br />COMMUNITY ENGAGEMENT: <br />INFORM <br />advance of the council / committee meeting. <br />5 - 2 <br />
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