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StaffReport` <br />Financia! Services Department www. kitchener. ca <br />REPORT TO: Finance and Corporate Services Committee <br />DATE OF MEETING: November 29, 2021 <br />SUBMITTED BY: Ryan Hagey, Director of Financial Planning, 519-741-2200 ext. 7353 <br />PREPARED BY: Ryan Hagey, Director of Financial Planning, 519-741-2200 ext. 7353 <br />WARD(S) INVOLVED: All <br />DATE OF REPORT: November 4, 2021 <br />REPORT NO.: FIN -2021-60 <br />SUBJECT: 2022 Capital Budget and 10 -Year Forecast <br />RECOMMENDATION: <br />For discussion. <br />Note: Final approval of the 2022 Capital Budget & 10 -Year Forecast will take place as <br />part of Final Budget Day, scheduled for December 16, 2021. <br />REPORT HIGHLIGHTS: <br />Kitchener is Moving Forward on shared community priorities, as many of the <br />constraints experienced throughout much of the pandemic begin to lift <br />The Capital Budget includes $1 M of unallocated funding with investment options in the <br />areas of affordable housing, facilities infrastructure gap, and community trails. <br />The Capital Budget and 10 -Year Forecast includes total planned investments of $1.413, <br />with $134M expected in 2022 <br />EXECUTIVE SUMMARY: <br />The City of Kitchener's proposed 2022 budget is about Moving Forward on our shared <br />community priorities. This budget builds on investments made in each of the five goals <br />outlined in our 2019-2022 Strategic Plan, and resumes the long-term capital investments in <br />our infrastructure that will ensure consistent, reliable services to meet the needs of a rapidly <br />growing city. As we begin to emerge from the pandemic, it's important to reflect back on <br />what we have accomplished together as a City over the past few years, while Moving <br />Forwardwith a focus on economic recovery, responding to community needs, supporting a <br />growing city, and maintaining our commitment to core services and infrastructure that <br />citizens rely on. <br />In addition to planned spending already included in the 2022 Capital Budget, there is also <br />an opportunity to invest more in areas of importance to the community, namely affordable <br />housing, reducing the City's facility infrastructure gap, and community trails. Through the <br />budget process, Council will decide how much additional funding to allocate to each of these <br />areas. <br />*** This information is available in accessible formats upon request. *** <br />Please call 519-741-2345 or TTY 1-866-969-9994 for assistance. <br />Page 3 of 199 <br />