The Capital Financing Costs and Other Financial section sets out a number of corporate-type expenses that are not attributable to any particular Department, but which, for the most part, are administered by the Finance and Corporate Support Services Department.
The full budget information is available in the Draft 2025 Budget book.
Highlights
| Debt and Capital Levy |
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The $3.05 million Capital Levy provision represents the amount of money raised in the 2025 Operating Budget to directly finance the 2025 Capital projects. The $19.3 million amount for 2025 for Tax Supported Debt Charges represents principal and interest to be paid on tax supported debt that has been issued, or that may be issued during 2025 from current or previous years’ approvals. Tax Supported Debt Charges exclude debt service payments recoverable from other non-tax sources such as Development Charges, Court House lease payments, Arena user fees and the Wastewater Reserve Fund. The Capital Financing Plan, approved by Council based on Report CPFS12-011 and updated with Report CLSFS21-024 and CLSFS23-033, is intended to address the need to move forward with much needed capital works. For 2025, the increase for additional capital financing through the Capital Financing Policy is recommended at 1.0%. |
| Transfers to Reserves and Reserve Funds |
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A $1.6 million portion of the 2025 regular Capital Levy is being transferred to the Capital Levy supported Flood Reduction Master Plan Reserve (FRMP) to fund specific FRMP Capital projects. A $4.3 million amount raised through the tax levy is being transferred to the Wastewater Reserve Fund to fund stormwater Capital projects. This represents the $0.62 million allocation for 2018, 2019, 2020, 2022, 2023, 2024 and 2025. In 2021, there was a one-time reallocation of the $0.62 million to tax supported debt. |
| COPHI Dividend |
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This dividend is used to bolster the annual capital levy provision. For the 2025 budget, the amount is estimated at $4 million. |
| Legacy Fund |
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The proceeds from the sale of PDI assets to Hydro One were used to establish a Legacy Fund. The 2025 budget |
| Transfer to Casino Gaming Reserve |
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Casino revenues have continued to rebound after the pandemic and the 2025 budget includes $3.0 million of funding from OLG. The Casino revenues are contributed in their entirety to the Casino Gaming Reserve to fund various capital projects as approved by Council. |
2025 overview
| Description | 2024 recommended |
|---|---|
| Tax-supported capital financing costs | $28,331,001 |
| Non-tax supported financing costs | $11,000,000 |
| Waste Water Reserve revenue | $2,500,000 |
| Net capital financing charges | $36,861,001 |
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