Capital Financing – Contaminated Sites & 100RE

Operating


Capital Financing
Contaminated Sites & 100RE

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

$500,000 or 15.6% net increase in budget in 2021 due to:

  • $300,000 increase in revenue due to the sale of carbon credits by Solid Waste to be transferred to 100 Renewable Energy (RE) Reserve Fund for use on future energy projects.
  • $500,000 proposed increase in transfer to 100RE Capital Reserve Fund for the continued implementation of 100RE funding strategy.
  • Capital financing shows as a net budget increase of $3,535,000 due to realignment budget presentation to align with Sustaining Pillar however corporately this is a net zero budget presentation adjustment.

2022 to 2024 budget changes explanation

$1,607,000 net increase in operating budget from 2022 to 2024 due to:

  • $1,500,000 for the continued implementation of the 100RE capital funding strategy.
  • $107,000 for continued increased funding to the Contaminated Sites Reserve Fund based on inflation.