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November 28, 2023,
Special City Council Meeting:
Capital & Parking Budgets

November 28, 2023, Meeting Agenda   View Live Stream of the Meeting
"2024 Mayor's Proposed Capital Budget. November 28, 2023." Niagara Falls logo. Photo of City Hall.
2024 City of Niagara Falls Mayor's Proposed Capital Budget

James Dowling, Senior Manager of Capital Accounting, presented the 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.

22% of the 2024 Capital Budget is related to Strategic Investments, including modernization initiatives which will improve customer experience and streamline internal processes and a $4.3M investment in affordable housing, which is a strategic priority of Council.

There were 37 projects, representing $21.9M deferred to future years, being mindful of taxpayer affordability and staff capacity to deliver projects.

The 2024 City of Niagara Falls Mayor's Proposed Capital Budget, totalling $66,653,419, was adopted as presented at Tuesday's Special Council meeting. 

View some of the Capital Budget highlights below.

View the report. View the Budget Book. View the presentation.
"Highlights: Key Investments. 9.8M Sewer Separations, $3.6M 2024 Fleet Program, $4.3M Affordable Housing Initiatives, $6.4M 2024 Road Program, $1.1M Emergency Preparedness, $2.7M Salt Storage Facility, $1.8M Sewer Inspections, $3.0M Aerial 1 Replacement."
"Highlights: New Service Improvements. Pedestrian Safety, Accessible Playground, Water Rescue Remote Robot, Cricket Facility."
"Highlights: Modernization Initiatives. ERP System, Customer Service, Web Redevelopment"
"Niagara Falls Mayor's Proposed 2024 Parking Budget. November 28, 2023"
Mayor's Proposed Draft 2024 Parking Budget

Tiffany Clark, Director of Finance, presented a report to help explain more significant budget-to-budget variances between the proposed draft 2024 Parking Budget and the approved 2023 Parking Budget.

Eight variances were identified throughout the parking budget summary. The 2024 draft parking budget contains expenses and revenues, each totalling $1,560,100, an increase of $131,488 or 9.2% compared to 2023 ($1,428,612).

In 2023, the Parking Budget (coming off of two tough Covid years, 2020 and 2021) was not projected to be self-sustaining, which required a budgeted transfer from the tax levy (through Special Purpose Reserves) of $156,512 (0.2% of the levy), in order to balance.

However, the 2023 year has been very favourable. The transfer from the tax rate stabilization reserve will not be needed, and in fact, we will be in a position once again to transfer the surplus to the parking reserve fund.

Council accepted and approved the Mayor's Proposed Draft 2024 Parking Budget, including all recommendations. 
 
Additional Reports
  • Strong Mayors Act - Update to Budget Process
    • Council received information from report F-2023-34 Strong Mayors Act - Update to Budget Process. 
    • The new Strong Mayors Act legislation changes the budget approval process where Council can no longer vote to approve the budget on the night it is presented. When Council is satisfied with the budget, that all amendments (if any) have been considered, and they are ready to approve the budget, Council and the Mayor will need to take action to reduce some of the timelines built into the Strong Mayors Act in order to have the budget deemed adopted (i.e. approved) at the date of the Council meeting in question. 
The complete list of reports may be viewed in the November 28, 2023 agenda at niagarafalls.ca/council.
Image of Niagara Falls City Hall
Next Council Meeting: Tuesday, December 12 at 1:00 pm
The next Niagara Falls City Council meeting will be open to the public and held on Tuesday, December 12, 2023, at 1:00 pm. For more information, please visit niagarafalls.ca/council.
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