Capital Financing – Infrastructure Renewal, Growth, City Building

Operating


Capital Financing
Infrastructure Renewal, Growth, City Building

Capital financing

This section includes debt servicing costs (principal and interest) associated with Council-approved capital projects, and the current year contributions to reserves to fund current and future capital projects. This also includes the generated carbon offset revenues, and dividends from Guelph Municipal Holdings Inc. and Guelph Junction Railway.

Budget details

Operating budget—Revenues and expenses

2021 budget changes explanation

$166,618 or 2.0% net increase in budget in 2021 due to:

  • Increase of $2,568,285 for the continuation of the tax supported Infrastructure Renewal Strategy, which is a 1 per cent annual increase to incrementally bring capital funding to sustainable targets by 2037 and reduce the infrastructure backlog.
  • $333,333 increase for Council-approved City Building Capital Reserve Fund transfer to fund the new Central Library; this is the 1/3 commitment approved on October 7, 2020.

Overall increase appears as $166,618 due to shifting capital financing for Contaminated Sites and 100RE to the Sustaining our Future priority.

2022 to 2024 budget changes explanation

$11,461,587 net increase in operating budget from 2022 to 2024 due to:

  • Annual increases to support the tax supported Infrastructure Renewal Strategy and Council-approved City Building Strategy for the new central library.