November 26, 2024,
Special City Council Meeting:
Capital & Parking Budgets
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2025 City of Niagara Falls Mayor's Proposed Capital Budget
James Dowling, Deputy Treasurer, presented the 2025 Mayor's Proposed Capital Budget. The Capital Budget supports rehabilitating and replacing existing assets, growth-related investments, purchasing/constructing new assets, and strategic investments.
Asset Management continues to be the key focus of the Capital Budget, as the City needs a solid foundation to grow successfully. This will ensure increased service levels, and growth will not be at the expense of existing services. 94% of the Capital Budget focuses on state of good repair and growth-related investments.
The remaining portions of the 2025 Capital Budget are related to Service Improvements and Strategic Investments, including reducing and removing barriers for people with disabilities and furthering inclusivity at city-owned facilities, pool enhancements, and Civic Square enhancements. After a successful participatory budgeting pilot, the capital budget will also include funding for Community Decision Making.
There were 28 projects, representing $20.3M deferred to future years, being mindful of taxpayer affordability and staff capacity to deliver projects.
There were four amendments proposed by Council to the capital budget. Only one of the approved amendments had a financial impact, increasing the total budget by $150,000.
The 2025 City of Niagara Falls Mayor's Proposed Capital Budget, as amended, totalling $50,419,000, was deemed adopted at the Special Council meeting on November 26, 2024
View some of the Capital Budget highlights below.
View the report. View the Budget Book. View the presentation.
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Mayor's Proposed 2025 Parking Budget
Tiffany Clark, Director of Finance, presented a report to help explain more significant budget-to-budget variances between the proposed 2025 Parking Budget and the approved 2024 Parking Budget.
The 2025 parking budget continues to be self-sustaining, funded by parking user fees, permits and fine revenues and contains expenses and revenue, each totalling $1,652,793, which is an increase of $92,693 or 5.9% as compared to 2024 ($1,560,100).
Some highlights of the Parking Budget include:
- Three new position requests: Municipal Enforcement/Parking Supervisor and two Junior Municipal Enforcement Officers, to be funded 75% by the Tax Levy Supported Operating Budget and 25% by the Parking Budget.
- A reduction of $38,000 in the Commissionaires budget as well as a transfer of 10% or $29,000 of the Commissionaires budget to Municipal Enforcement.
- Introduction of a transfer to Capital Special Purpose Reserves of $50,000. Excluding backlog, the Asset Management Plan indicates the contribution in Parking in order to maintain existing parking infrastructure should be approximately $200,000 per year.
The Mayor's Proposed 2025 Parking Budget, with gross expenses totalling $1,652,793, was deemed adopted at the Special Council Meeting on November 26, 2024.
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Next Council Meeting: Tuesday, December 10 at 1:00 pm
The next Niagara Falls City Council meeting will be open to the public and held on Tuesday, December 10, 2024, at 1:00 pm. For more information, please visit niagarafalls.ca/council.
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