2024 Project Contingency Allocation
Motion
That Council: 1. Direct Staff to add a $870,000 project contingency budget for 2024 to the 2024 – 2028 Provisional Financial Plan funded from 2023 surplus; and, 2. Direct Staff to incorporate the new approach to project contingencies in future Financial Plans.
This vote follows the minutes. The City’s vote record differs.
Sources
Agenda itemCity agenda, whole meeting
Staff reportPage 1
Purpose
To advise the Finance and Audit Committee of changes in the approach to project plan budgeting and request a project contingency for the 2024 project plan.
Staff recommendation
That the Finance and Audit Committee recommend that Council: 1. Direct staff to add a $870,000 project contingency budget for 2024 to the 2024 – 2028 Provisional Financial Plan funded from 2023 surplus; and 2. Direct staff to incorporate the new approach to project contingencies in future Financial Plans.
DocumentsStaff report about Economic Development