[{"text": "e", "start": 28.96, "end": 31.96}, {"text": "e", "start": 58.92, "end": 61.92}, {"text": "e", "start": 88.92, "end": 91.92}, {"text": "e", "start": 118.84, "end": 121.84}, {"text": "e", "start": 148.84, "end": 151.84}, {"text": "e", "start": 178.84, "end": 181.84}, {"text": "e", "start": 208.76, "end": 211.76}, {"text": "e", "start": 238.72, "end": 241.72}, {"text": "e", "start": 268.72, "end": 271.72}, {"text": "e", "start": 298.639, "end": 301.639}, {"text": "e", "start": 328.639, "end": 331.639}, {"text": "e", "start": 358.639, "end": 361.639}, {"text": "e", "start": 388.56, "end": 391.56}, {"text": "e", "start": 418.52, "end": 421.52}, {"text": "e", "start": 448.52, "end": 451.52}, {"text": "e", "start": 478.44, "end": 481.44}, {"text": "e e", "start": 508.44, "end": 512.479}, {"text": "okay good morning counselors I forgot where the microphone was over the Christmas vac", "start": 564.12, "end": 571.36}, {"text": "um okay um I'm going to call to order uh before uh before we get past the", "start": 572.64, "end": 578.76}, {"text": "deadline or or our uh our past budget Chief will come up and take the", "start": 578.76, "end": 585.04}, {"text": "chair I just want to welcome uh uh our former counselor and former budget Chief", "start": 585.24, "end": 590.88}, {"text": "Gary Crawford he's he's here to check my", "start": 590.88, "end": 595.04}, {"text": "work h no we're we're very happy to have him uh considering his uh current role", "start": 596.399, "end": 602.6}, {"text": "thank you so much for coming Gary so good morning uh for uh those uh online", "start": 602.6, "end": 607.72}, {"text": "my name is councelor Shelley Carroll and I'm the chair of the budget committee we do have Quorum so I call meeting number", "start": 607.72, "end": 614.36}, {"text": "seven of the budget Committee in this term to order welcome everyone and happy", "start": 614.36, "end": 619.44}, {"text": "New Year if I haven't already wished you one today's meeting is being held in person at City Hall in committee room", "start": 619.44, "end": 625.8}, {"text": "one this meeting is also being live streamed online at YouTube Toronto City", "start": 625.8, "end": 631.56}, {"text": "Council live uh and I'll just Begin by making our land acknowledgement although we may be meeting in different locations", "start": 631.56, "end": 638.44}, {"text": "today the infrastructure and environment oh sorry I've got got works' uh works'", "start": 638.44, "end": 643.839}, {"text": "script the budget committee sorry would like to acknowledge that the land we meeting on", "start": 643.839, "end": 650.32}, {"text": "is the traditional territory of many nations including the Mrs sagas of the credit the anishnabe the Chipawa the", "start": 650.32, "end": 657.16}, {"text": "hodon and the wendat peoples and is now home to many diverse First Nations", "start": 657.16, "end": 662.32}, {"text": "innuit and matey peoples we also acknowledge that Toronto is covered by treaty 13 with the Miss sagas of the", "start": 662.32, "end": 669.16}, {"text": "credit and I also want to make our uh African ancestral acknowledgement though I'm not a person of African descent I am", "start": 669.16, "end": 676.48}, {"text": "committed to continually acting in support of and in solidarity with black communities that are seeking uh freedom", "start": 676.48, "end": 683.88}, {"text": "and repairative Justice in light of the history and ongoing Legacy of slavery", "start": 683.88, "end": 689.48}, {"text": "and of the continued impact on black communities in Canada as part of this commitment I'd also like to acknowledge", "start": 689.48, "end": 696.72}, {"text": "that not all people came to these lands as as migrants or settlers specifically", "start": 696.72, "end": 702.279}, {"text": "I want to acknowledge those who came here involuntarily particularly those brought to these lands as a result of", "start": 702.279, "end": 709.2}, {"text": "the transatlantic slave trade and slavery in support of the city of Toronto's ongoing efforts to confront", "start": 709.2, "end": 715.839}, {"text": "anti-black racism I pay tribute to those ancestors of African origin and", "start": 715.839, "end": 722.079}, {"text": "descent so uh we can get underway are there any Declarations of conflict of", "start": 722.079, "end": 728.44}, {"text": "interest uh uh to do with the budget seeing none this is very much an info", "start": 728.44, "end": 733.8}, {"text": "meeting if you do have an interest you'll you'll let us know uh in advance as we start our way through the budget", "start": 733.8, "end": 740.76}, {"text": "process um can I have a motion to confirm the minutes from the 2024 budget", "start": 740.76, "end": 746.079}, {"text": "committee uh by January 10th January 16th 17th and 18th which was our", "start": 746.079, "end": 751.839}, {"text": "counselor review 2022 and 23 and in in uh 24 which was the deputations last", "start": 751.839, "end": 758.92}, {"text": "year and lastly January 24th 2024 which was our wrap-up meeting uh Mr Vice chair", "start": 758.92, "end": 765.399}, {"text": "do you want to uh improve the minutes all in favor oppose seeing none that is", "start": 765.399, "end": 770.88}, {"text": "carried so um let me just uh remind folks that the purpose of today's meeting is really to hear the", "start": 770.88, "end": 777.079}, {"text": "presentation to hear that overview presentation from the city manager from the Chief Financial Officer and", "start": 777.079, "end": 783.24}, {"text": "Treasurer on the 2025 operating and capital budgets before we let before we", "start": 783.24, "end": 789.399}, {"text": "start the presentation um I'm I'm going to give a brief overview of how the process is", "start": 789.399, "end": 795.399}, {"text": "going to unfold and this is going up on the website even as we speak but if there are any pieces here that aren't", "start": 795.399, "end": 801.639}, {"text": "already there we're responsible for hearing public presentations and providing advice to the mayor on the", "start": 801.639, "end": 808.639}, {"text": "operating and capital budgets so the budget committee will be making our final recommendations to the mayor in", "start": 808.639, "end": 814.72}, {"text": "our meeting on Friday January 24th that's our our wrapup meeting the", "start": 814.72, "end": 819.8}, {"text": "detailed 2025 budget agenda which includes all of the budget analyst Notes", "start": 819.8, "end": 825.32}, {"text": "The Briefing notes and the supporting information from City divisions and agencies will be published later today", "start": 825.32, "end": 832.8}, {"text": "after this meeting has been completed uh that's so that it hits the airwaves the same time that uh members of the media", "start": 832.8, "end": 840}, {"text": "will be headed for a technical briefing um so uh folks will maybe have to wait", "start": 840, "end": 846.199}, {"text": "till lunchtime but I is it is it looking good they're in", "start": 846.199, "end": 852.36}, {"text": "okay hopefully all goes smoothly the budget agenda will be published on the clerk's website at", "start": 852.36, "end": 859.279}, {"text": "toronto.ca council with more information to be found there at toronto.ca budget as to our next three", "start": 859.279, "end": 866.48}, {"text": "days of review which divisions are when I think most people will find that helpful budget committee will meet later", "start": 866.48, "end": 872.639}, {"text": "this week on the 15th 16th and 17th to review the 202 25 budget in more detail", "start": 872.639, "end": 879.12}, {"text": "uh when you can ask questions City divisions and agencies members if you need additional information from staff", "start": 879.12, "end": 885.519}, {"text": "beyond what the analyst notes have provided that budget or it's not covered in a presentation the detailed budget", "start": 885.519, "end": 892.88}, {"text": "notes uh uh and you want to request a briefing note from them um you can do so", "start": 892.88, "end": 898.44}, {"text": "by motion when we meet later this week between the 15th and the 17th we we hope that you'll", "start": 898.44, "end": 904.839}, {"text": "keep track of briefing notes that you uh uh want and and flag it for us then", "start": 904.839, "end": 910.6}, {"text": "having finished asking your questions please send in any motions for briefing notes as soon as possible it really", "start": 910.6, "end": 918.16}, {"text": "helps us to make sure if there are duplicates that we're we're combining and getting a briefing note that makes", "start": 918.16, "end": 923.88}, {"text": "the information as as concise as possible and I ask that you give permission to the clerk to share those", "start": 923.88, "end": 930.68}, {"text": "motions with financial planning staff and chair so they can coordinate and and make sure that you get the information", "start": 930.68, "end": 936.6}, {"text": "you need given the very short timeline between our budget review this week and our final wrap-up on the 24th financial", "start": 936.6, "end": 943.519}, {"text": "planning staff will be under a lot of pressure to complete all briefing notes requested by the committee in time so", "start": 943.519, "end": 949.279}, {"text": "please give consideration to that narrow timeline when making a motion to collect briefing notes some things as we know if", "start": 949.279, "end": 956.399}, {"text": "it's there's a lot of history in it it it's going to take a little longer than they would have we are scheduled to hear", "start": 956.399, "end": 962.6}, {"text": "public speakers next week on Tuesday January 21st and Wednesday January 22nd", "start": 962.6, "end": 968.44}, {"text": "this year there are meeting sessions timed for 9:30 a.m. 1:30 p.m. and 6:", "start": 968.44, "end": 973.48}, {"text": "p.m. at all of the Civic Center locations members of the public who wish to speak to the budget committee about", "start": 973.48, "end": 979.519}, {"text": "the 2025 budget can register with the clerk at bu", "start": 979.519, "end": 985.959}, {"text": "toronto.ca and choosing a meeting time on E either of the 21st or the 22nd", "start": 985.959, "end": 991.279}, {"text": "within those time slots the presentation that we're about to hear is available on the clerk's website at", "start": 991.279, "end": 998.319}, {"text": "toronto.ca counil remember it's we're changing years so it's time to when you want to know all things budget it's City", "start": 998.319, "end": 1004.399}, {"text": "budget 2025 don't don't do a typo and hit 24 but that page is already up so", "start": 1004.399, "end": 1011.12}, {"text": "following the presentation from our CFO and city manager I'm going to open the floor and create a list of members names", "start": 1011.12, "end": 1017.8}, {"text": "for questions of staff and I I hope that people will remember that it is about the overview presentation the the the", "start": 1017.8, "end": 1024.72}, {"text": "detail you'll have 3 Days To Do going forward I'd like to thank City staff uh", "start": 1024.72, "end": 1030.079}, {"text": "before we get started because uh uh they have worked very hard as usual we spoiled your", "start": 1030.079, "end": 1036.48}, {"text": "holidays so I really want to thank them for all the work they've done and the public service who've worked with the", "start": 1036.48, "end": 1041.839}, {"text": "financial units to to achieve uh this budget um I want to uh uh also thank the", "start": 1041.839, "end": 1048.16}, {"text": "mayor who was upstairs uh um for part of the presentation uh you should know that", "start": 1048.16, "end": 1054.039}, {"text": "she had a whole year to work on this presentation so um you're you're you're looking at a budget that uh that she's", "start": 1054.039, "end": 1061.24}, {"text": "already very very familiar with so uh I think that will that will make this a a", "start": 1061.24, "end": 1066.4}, {"text": "little bit more concise uh process and now I'm going to turn it over to the city manager and the CFO to give the", "start": 1066.4, "end": 1073.36}, {"text": "presentation just want to oh yes go ahead uh thank thank you uh", "start": 1073.36, "end": 1080.52}, {"text": "budget chief chief chief chief Carol um I just wanted to know if all of the", "start": 1080.52, "end": 1086.32}, {"text": "budget notes and briefing notes are also being released today because that would help us to inform any further requests", "start": 1086.32, "end": 1092.4}, {"text": "for briefing notes yes you'll you'll have them uh later this afternoon uh", "start": 1092.4, "end": 1098.039}, {"text": "hopefully around lunchtime okay um as the media go into technical briefings they should all be getting uploaded", "start": 1098.039, "end": 1104.919}, {"text": "there and then the ones that we can submit for briefing note requests will we have the opport you move those on", "start": 1104.919, "end": 1109.96}, {"text": "Wednesday and Thursday afternoons as well so that you're not just waiting until Friday and give staff more time", "start": 1109.96, "end": 1115.32}, {"text": "yeah yeah if if you if you know you know if that division is is is currently", "start": 1115.32, "end": 1120.44}, {"text": "presenting and you know you need that more information flagging your right then and there means that we can you", "start": 1120.44, "end": 1125.84}, {"text": "know then then as you know people who may not be attending may ask the same question and we can say well there's", "start": 1125.84, "end": 1131.559}, {"text": "already a request um so in that regard um budget committee members are are most", "start": 1131.559, "end": 1137.799}, {"text": "helpful because some people will decide they need something at the very last minute and and you've already uh uh", "start": 1137.799, "end": 1143.64}, {"text": "dedicated so much of your time that that that you've you've already noted that information needs to be added thank you", "start": 1143.64, "end": 1150.76}, {"text": "yeah okay okay I'm going to turn off my microphone H as my as my my father used", "start": 1150.76, "end": 1158.52}, {"text": "to say shoot Luke the air is full of pigeons Mr city", "start": 1158.52, "end": 1164.64}, {"text": "manager well chair thank you and and that's quite an introduction to our president presentation thank you for", "start": 1164.64, "end": 1169.72}, {"text": "that as well it's uh it's our pleasure to be here this morning to present an overview of the 2025 budget um I want to", "start": 1169.72, "end": 1177.32}, {"text": "first start by by thanking uh you know this committee for its ongoing work with our budget process and as we get into", "start": 1177.32, "end": 1184.52}, {"text": "the presentation I want to thank our Chief Financial Officer and Treasurer Steve coni and his team for all the work", "start": 1184.52, "end": 1190.64}, {"text": "that they have put into it I'll provide a brief overview in the first few slides and then turn it over to our CFO for uh", "start": 1190.64, "end": 1198.28}, {"text": "his uh longer context in both the operating and capital budgets so let's Jump Right In the 2025 budget highlights", "start": 1198.28, "end": 1206.4}, {"text": "are that we have as uh we're required to do and as we do each year and we presenting today a balanced budget on", "start": 1206.4, "end": 1214.08}, {"text": "the operating side it's a budget of $18.8 billion which is an increase from last year and on the capital side nearly", "start": 1214.08, "end": 1220.64}, {"text": "$60 billion also an increase from 2024 we'll go into uh why those", "start": 1220.64, "end": 1226.919}, {"text": "increases are are there and and what's happening with those but I do want to thank all of the folks across the uh", "start": 1226.919, "end": 1232.559}, {"text": "City uh who have contributed to building this year's budget the operating budget", "start": 1232.559, "end": 1237.96}, {"text": "is supported by a uh recommended 5.4% residential property tax increase the", "start": 1237.96, "end": 1243.919}, {"text": "capital budget of course as was council's decision is continuing to be supported by a 1 and a half% uh increase", "start": 1243.919, "end": 1250.52}, {"text": "to the city building fund that combined uh puts the property tax increase for 2025 at", "start": 1250.52, "end": 1257.32}, {"text": "6.9% there are a number of Investments that match with what we've been hearing through the budget consultations what", "start": 1257.32, "end": 1263.48}, {"text": "we've been hearing through the Citywide Sur uh survey that was conducted uh in August and September around priorities", "start": 1263.48, "end": 1270.44}, {"text": "here in the city and it does align with the multi-year approach we're taking towards our budgeting as well as um the", "start": 1270.44, "end": 1278.12}, {"text": "work that we're doing with other orders of government in particular with our provincial partners that I'll talk about", "start": 1278.12, "end": 1283.6}, {"text": "in just a few minutes uh to help make sure that we move towards a sustainable future", "start": 1283.6, "end": 1289.039}, {"text": "in all our goal is to uh continue to advance a more resilient and sustainable financial future uh we mentioned last", "start": 1289.039, "end": 1295.88}, {"text": "year that this was going to take us a few years to do and we are on track to make that happen if we move to the next", "start": 1295.88, "end": 1302.88}, {"text": "slide I I do want to present to you today that the approach that we outlined", "start": 1302.88, "end": 1308.44}, {"text": "for you last year is working and we can see a future forward that puts the city", "start": 1308.44, "end": 1313.76}, {"text": "of Toronto on a much stronger Financial footing we will go into detail around the continuing Partnerships that we need", "start": 1313.76, "end": 1320.2}, {"text": "in order to achieve that success uh but I can tell you that the plan today is", "start": 1320.2, "end": 1325.559}, {"text": "working in 2024 you'll recall we opened with a budget pressure of $1.8 billion", "start": 1325.559, "end": 1332.2}, {"text": "the largest that uh anyone can remember and certainly one that we could not close without the support of other uh", "start": 1332.2, "end": 1338.44}, {"text": "orders of government helping us and as you know that came through I'm pleased to note that in 2025 although still a", "start": 1338.44, "end": 1346}, {"text": "large opening pressure at $1.2 billion you can see the decline and this slide", "start": 1346, "end": 1351.08}, {"text": "indicates that our projections for 2026 and 2027 have this opening pressure continuing to decline based on the work", "start": 1351.08, "end": 1358.44}, {"text": "that we're doing that's outlined in the bullet points across 2024 this past year", "start": 1358.44, "end": 1363.76}, {"text": "2025 our current year and into 2026 and beyond our long-term financial plan", "start": 1363.76, "end": 1369.72}, {"text": "clearly laid out that this was going to take a few years to happen if we wanted to ensure there were not dramatic", "start": 1369.72, "end": 1376.64}, {"text": "changes to service levels across the city of Toronto and I can state to you today that uh the service levels and our", "start": 1376.64, "end": 1384.08}, {"text": "services that we provide to the people who live work Play and Learn in the city of Toronto uh continue to be at a level", "start": 1384.08, "end": 1391.6}, {"text": "that people have seen in the past and in targeted areas uh we've seen continued new Investments so this multi-year", "start": 1391.6, "end": 1398.96}, {"text": "approach will require us to continue to work on on our financial uh strategies", "start": 1398.96, "end": 1405.2}, {"text": "both on an operating and capital side but we do see a time as early as 2027", "start": 1405.2, "end": 1411.08}, {"text": "where our opening pressure is much more in line with what we've seen in the", "start": 1411.08, "end": 1416.919}, {"text": "past one of the things you will note in our budget is a rather large increase in the gross expenditures from an operating", "start": 1416.919, "end": 1423.64}, {"text": "perspective from 17 billion to 18.8 billion and if you simply do the math on that increase it's", "start": 1423.64, "end": 1429.48}, {"text": "10.5% I want to be very clear and why we've included this slide is to be very clear that that is a gross change in our", "start": 1429.48, "end": 1436.559}, {"text": "budget which is uh very much impacted by some flowthrough that we have from other", "start": 1436.559, "end": 1442.039}, {"text": "orders of government it is not a reflection on the increased City expenditures which you can see from this", "start": 1442.039, "end": 1447.72}, {"text": "slide are more in line with about a 3.8% increase so let's talk about why that", "start": 1447.72, "end": 1453.36}, {"text": "gross number is so large uh there are a number of initiatives that we receive", "start": 1453.36, "end": 1458.679}, {"text": "funding from really as a flow through from other orders of government one of the largest and it's a good news story", "start": 1458.679, "end": 1465.159}, {"text": "is about $570 million in new funding under the Canada wide Early Learning and Child Care Program this provides for a", "start": 1465.159, "end": 1473.08}, {"text": "more affordable child care in this city as is happening across communities across this country so at $570 million", "start": 1473.08, "end": 1480.559}, {"text": "that has no impact on the property taxpayers of the city of Toronto that is a good news story of our work with other", "start": 1480.559, "end": 1486.679}, {"text": "orders of government other uh impacts in this area um are really a sign of the times the", "start": 1486.679, "end": 1493.559}, {"text": "reality is our case loads for Ontario Works and and are up and as a result", "start": 1493.559, "end": 1498.84}, {"text": "the 100% contribution from the province of Ontario to the uh social assistant", "start": 1498.84, "end": 1503.88}, {"text": "payments that are received by individuals in our community are again put into the city's budget because of", "start": 1503.88, "end": 1509.559}, {"text": "the times that we're living in those expenditures are up our case loads are up so while not a great news story the", "start": 1509.559, "end": 1516.12}, {"text": "fact that more money is flowing into the city again does not impact the property taxpayer there are also internal", "start": 1516.12, "end": 1522.6}, {"text": "transfers that happen that make up some of this $18.8 billion now one of the examples that you see now in a", "start": 1522.6, "end": 1528.88}, {"text": "Consolidated budget for the first time in 2025 is our our work on the uh the", "start": 1528.88, "end": 1534.32}, {"text": "the FIFA event in 2026 there is one budget that shows you how those expenses", "start": 1534.32, "end": 1539.36}, {"text": "are rolling out from a year-to-year process matched against the $380 million budget but of course the work happens", "start": 1539.36, "end": 1545.72}, {"text": "across many divisions and agencies boards and corporations and so that work then has to be trans transferred and", "start": 1545.72, "end": 1551.559}, {"text": "those resources transferred to those budgets so the work can actually happen another example is the uh increase rates", "start": 1551.559, "end": 1557.88}, {"text": "that we're collecting from for Toronto water some of those are being transferred to the capital program and", "start": 1557.88, "end": 1563.36}, {"text": "again those internal transfers make up in total about $336 million of that", "start": 1563.36, "end": 1568.6}, {"text": "gross change so I do want to focus on what is around increased City expenditures about $650 million and as I", "start": 1568.6, "end": 1576.36}, {"text": "say if you looked at it from a year-over-year increase perspective about 3.8% about 90% of those increased costs", "start": 1576.36, "end": 1583.799}, {"text": "are across some very uh uh few areas but very important areas for the city of", "start": 1583.799, "end": 1589.399}, {"text": "Toronto our transit services our emergency services our largest uh the", "start": 1589.399, "end": 1595}, {"text": "largest social housing provider in the country in Toronto Community Housing and of course in 2025 uh we are in a", "start": 1595, "end": 1602.08}, {"text": "Collective Agreement year and we are settling with uh many of our our unions we've done some of those settlements and", "start": 1602.08, "end": 1608.76}, {"text": "some of them are ongoing so when you look at those increased costs those are the areas that account for most of it", "start": 1608.76, "end": 1614.919}, {"text": "and uh the reality is that is what we need in order to keep our our city moving forward so again I know the story", "start": 1614.919, "end": 1621.12}, {"text": "will be look at the huge increase in in expenditures by the city of Toronto", "start": 1621.12, "end": 1626.279}, {"text": "we've provided this slide so that we can all communicate clearly that much of that is a flow through of uh of other", "start": 1626.279, "end": 1633.48}, {"text": "orders of government some of which is very good news for this community and that when it comes to increased City", "start": 1633.48, "end": 1640.039}, {"text": "expenditures uh there's a strong rationale for why we're investing in the areas that we are that make up 90% of", "start": 1640.039, "end": 1646.039}, {"text": "that increase and overall a uh a decent level of increase match to the amount of", "start": 1646.039, "end": 1652.48}, {"text": "service that we need to provide so I did want to spend just a few minutes on that chair as we move forward there are some", "start": 1652.48, "end": 1659.6}, {"text": "fundamentals in our budget that remain unchanged and on this next slide you can see the impact of our work and our", "start": 1659.6, "end": 1667.6}, {"text": "investments in this community on the provincial and national scale the reality is that uh as Toronto", "start": 1667.6, "end": 1675.6}, {"text": "is stronger so is Ontario and so is our country we account for one in every five", "start": 1675.6, "end": 1682.08}, {"text": "jobs in Ontario we account as you heard last year and continue to account for about", "start": 1682.08, "end": 1687.799}, {"text": "20% of the GDP of this country and over 50% of the GDP in this", "start": 1687.799, "end": 1693.32}, {"text": "province we welcome more than 26 million visitors annually we have a massive", "start": 1693.32, "end": 1699}, {"text": "Capital program that provides jobs and investments in key sectors in uh in from", "start": 1699, "end": 1704.519}, {"text": "an economic perspective and those that do business business in this city", "start": 1704.519, "end": 1709.72}, {"text": "generate billions annually in income corporate and sales taxes to other orders of government we always put the", "start": 1709.72, "end": 1717.08}, {"text": "chart on the right side of this slide in just to remind folks that from a tax perspective and a revenue perspective", "start": 1717.08, "end": 1723.48}, {"text": "through taxes municipalities including Toronto receive", "start": 1723.48, "end": 1728.519}, {"text": "a tiny share of those revenues based on other uh compared to other orders of", "start": 1728.519, "end": 1733.64}, {"text": "government so our impact provincially and federally has not changed and", "start": 1733.64, "end": 1739.72}, {"text": "therefore the fact that we need to work together has not changed as well if you", "start": 1739.72, "end": 1744.799}, {"text": "remember last uh uh when in um the long-term financial plan came forward in", "start": 1744.799, "end": 1750.48}, {"text": "2023 as we look forward to a 2024 budget it was very clear that the city of Toronto had things that they needed to", "start": 1750.48, "end": 1757.039}, {"text": "do and the City of Toronto has responded we have found ways in order to make sure", "start": 1757.039, "end": 1762.559}, {"text": "that our budgets are as efficient and effective as possible and that our investments and our use of the tools", "start": 1762.559, "end": 1769.279}, {"text": "that we have to generate resources and revenues are used as wisely as possible", "start": 1769.279, "end": 1774.84}, {"text": "but we needed other orders of government to come to the table and help of course", "start": 1774.84, "end": 1780.08}, {"text": "we were all very pleased with the success of the uh new deal as they were called conversations with the provincial", "start": 1780.08, "end": 1786.44}, {"text": "government and while there were also some federal contributions that came I really want to focus in on what the work", "start": 1786.44, "end": 1793.279}, {"text": "the work that happened between our mayor and the premier of this province and the work that was flowed to us to complete", "start": 1793.279, "end": 1799.679}, {"text": "as uh civil servants to create the New Deal that was signed off in late 2023", "start": 1799.679, "end": 1805.32}, {"text": "and helped us in our 2024 budget this slide gives you a a sense of some of", "start": 1805.32, "end": 1811.12}, {"text": "those Investments that were there and what they needed to do to help us address in 2024 that operating pressure", "start": 1811.12, "end": 1818.399}, {"text": "simply would not have been closed had we not had a significant contribution from", "start": 1818.399, "end": 1823.72}, {"text": "the provincial government and we can't thank them enough for investing in those areas that we clearly articulated", "start": 1823.72, "end": 1829.2}, {"text": "through our long-term financial plan had a uniqueness in Toronto that simply did not exist in other municipalities across", "start": 1829.2, "end": 1835.96}, {"text": "this province those areas included Transit those areas included housing and", "start": 1835.96, "end": 1841.36}, {"text": "homelessness and those areas included our massive uh issues around uh Capital", "start": 1841.36, "end": 1846.72}, {"text": "work so we do have operating funding uh guaranteed over a threeyear period in", "start": 1846.72, "end": 1853.32}, {"text": "those areas operating dollars for Transit operating dollars for our shelter system and in addition to that", "start": 1853.32, "end": 1860.519}, {"text": "we've also been able to achieve funding through funds that have been set up for all municipalities such as the building", "start": 1860.519, "end": 1866.32}, {"text": "faster fund and that is a result of us meeting and exceeding in some cases our housing targets and I'm pleased to say", "start": 1866.32, "end": 1872.88}, {"text": "in 2024 it appears that we will once again have us be strong in terms of of matching against our housing Target but", "start": 1872.88, "end": 1879.919}, {"text": "we know that tougher times are ahead in 20125 as we try to continue to build the housing that's required uh for this", "start": 1879.919, "end": 1886.559}, {"text": "community it also also goes without saying that uh the fact the province is", "start": 1886.559, "end": 1892.48}, {"text": "uh uploading to their oversight The Gardener Expressway and Don Valley", "start": 1892.48, "end": 1898.559}, {"text": "Parkway provided an immediate relief in two ways to the city of Toronto first of", "start": 1898.559, "end": 1904.32}, {"text": "all it will eliminate the single largest state of good repair impact on our", "start": 1904.32, "end": 1909.44}, {"text": "budget that we had that stretch of road is the single largest Capital project in", "start": 1909.44, "end": 1916.279}, {"text": "terms of its impact on state of good repair so secondly we were able over the 10-year period to invest those resources", "start": 1916.279, "end": 1923.2}, {"text": "in other categories of capital spending that also have pressures on state of good repair and the good work of uh of", "start": 1923.2, "end": 1931.32}, {"text": "council to recognize those areas means that we are underway in allowing parts", "start": 1931.32, "end": 1937.24}, {"text": "of our organization to have increased resources to address state of good repair again that partnership with the", "start": 1937.24, "end": 1943.96}, {"text": "provincial government has allowed us to make a 1.9 billion ion dollar investment in state of good repair over the next 10", "start": 1943.96, "end": 1951.08}, {"text": "years that we simply would not have been able to make without that partnership", "start": 1951.08, "end": 1956.12}, {"text": "and I know that you mentioned chair at the beginning of the meeting that um uh that Gary Crawford is here with us and", "start": 1956.12, "end": 1962.72}, {"text": "as you know we are committed to continuing our work with the New Deal the province has committed in 2025 to", "start": 1962.72, "end": 1969.039}, {"text": "begin the discussions around what the future New Deal will look like and we'll continue to work with our provincial", "start": 1969.039, "end": 1975.88}, {"text": "counterparts including uh Mr Crawford in his new role with the provincial government as he acts as an adviser to", "start": 1975.88, "end": 1982.72}, {"text": "government around this new deal so that's the good news around the New Deal that came forward and I do want to", "start": 1982.72, "end": 1989}, {"text": "acknowledge of course the federal government coming forward and helping us uh particularly with funding for uh", "start": 1989, "end": 1995}, {"text": "Refugee and Asylum Seekers who are accessing our shelter system and at the very tail end of 2024 the announcement", "start": 1995, "end": 2002.48}, {"text": "that uh we have now completed the threeway investment strategy to ensure", "start": 2002.48, "end": 2008.6}, {"text": "the acquisition of 55 new subway cars for line two of the TTC so that's the good news but our", "start": 2008.6, "end": 2016.039}, {"text": "challenges remain and this slide shows just some of those challenges that remain for the city of Toronto quite", "start": 2016.039, "end": 2023.2}, {"text": "rightly people have pointed out that even with the success of the new deal in 2023 heading into our 2024 budget it did", "start": 2023.2, "end": 2030.12}, {"text": "not change some of these systemic challenges in the long term that is what we will be continuing to discuss with", "start": 2030.12, "end": 2036.399}, {"text": "other orders of government we in some cases operate the largest systems in the country and some of the", "start": 2036.399, "end": 2041.84}, {"text": "largest in North America uh from a service perspective we continue to have pressures on our city that simply don't", "start": 2041.84, "end": 2049.839}, {"text": "exist in other places in Ontario or across this country and like all municipalities Toronto has limited", "start": 2049.839, "end": 2056.72}, {"text": "Revenue tools and they are um largely disconnected from economic growth as we", "start": 2056.72, "end": 2062.079}, {"text": "would say without access to taxes that grow in terms of income taxes or or in", "start": 2062.079, "end": 2067.878}, {"text": "terms of sales taxes we have a heavy Reliance on property taxes and that is", "start": 2067.879, "end": 2073}, {"text": "simply not sustainable we understand that we've articulated it for years uh long before I joined the city of Toronto", "start": 2073, "end": 2079.56}, {"text": "this has been clearly articulated and it once again was articulated in 2023 in our long-term financial", "start": 2079.56, "end": 2086.878}, {"text": "plan the other piece that we know in terms of both budget and programming is that we continue to rise to the", "start": 2086.879, "end": 2093}, {"text": "challenge time after time in the city of Toronto we continue to operate these programs that are the largest in the", "start": 2093, "end": 2098.72}, {"text": "country that have some of the most complex issues that they respond to in the country and we continue to do that", "start": 2098.72, "end": 2105.359}, {"text": "uh with the investment of torontonians in many many different ways we continue to invest in our Capital program and", "start": 2105.359, "end": 2113.2}, {"text": "you'll see this year again continue to raise that investment as we continue to", "start": 2113.2, "end": 2118.4}, {"text": "maintain critical infrastructure and address our state of good repair but the reality is that as things", "start": 2118.4, "end": 2126.079}, {"text": "confront this community we will need those continued Partnerships if we are to continue to deliver the services", "start": 2126.079, "end": 2132.52}, {"text": "torontonians expect that is why we continue to say and point back to our", "start": 2132.52, "end": 2137.88}, {"text": "long-term financial plan Toronto has work that it needs to do and will continue to do you have been very clear", "start": 2137.88, "end": 2144.72}, {"text": "with what you want us to try and achieve in terms of uh Financial sustainability and service level delivery but the", "start": 2144.72, "end": 2152.16}, {"text": "reality is if we are to be fully sustainable from a financial perspective we will need the support of other orders", "start": 2152.16, "end": 2159.079}, {"text": "of government I want to conclude with uh looking at the the results that were", "start": 2159.079, "end": 2164.8}, {"text": "delivered and a snapshot of some of the the the results that were delivered from the 2024 investment achieved through the", "start": 2164.8, "end": 2171.76}, {"text": "budget and achieved uh by our city this slide highlights some key areas these", "start": 2171.76, "end": 2177.079}, {"text": "are key areas that continue to come forward from our consultation and Survey work of where uh those that live work", "start": 2177.079, "end": 2184.2}, {"text": "and do business in the city want us to make investments it's also clear from a", "start": 2184.2, "end": 2189.28}, {"text": "council perspective where your priorities are and they match with the Strategic priorities that you have set", "start": 2189.28, "end": 2194.359}, {"text": "for us as our governing body we do invest in public safety across our emergency services and it is seeing", "start": 2194.359, "end": 2201.2}, {"text": "results a 5.7 minute reduction in police response time is something that is very", "start": 2201.2, "end": 2207}, {"text": "pleasing for all of us to see the fact now that residents everywhere in the city of Toronto have access to the", "start": 2207, "end": 2213.76}, {"text": "Toronto Cris Community crisis service means there is a non-p police alternative for those experiencing", "start": 2213.76, "end": 2219.96}, {"text": "issues of mental health from a roads perspective we know that we need to keep our roads infrastructure working and", "start": 2219.96, "end": 2226.839}, {"text": "we're doing that by filling more potholes by ensuring that we do everything in our power to deal with", "start": 2226.839, "end": 2233.079}, {"text": "congestion management as we also make unprecedented Capital Investments across", "start": 2233.079, "end": 2238.359}, {"text": "our city from a Transit perspective more hours of service are available and Transit fairs are Frozen part of a", "start": 2238.359, "end": 2245.4}, {"text": "response to the affordability challenges that the torontonians speak of each and every day our affordable housing program", "start": 2245.4, "end": 2252.68}, {"text": "has been invested in in 2024 in ways that are uh both consistent with our", "start": 2252.68, "end": 2258.359}, {"text": "overall approaches on our 10-year housing plan but also in new ways as", "start": 2258.359, "end": 2263.48}, {"text": "we're confronted with new realities and new challenges to building housing in this community most recently in the fall", "start": 2263.48, "end": 2269.68}, {"text": "of 2024 reports that provided incentives to develop more than 12,000 new rental", "start": 2269.68, "end": 2276.839}, {"text": "homes and across our community torontonians are able to access more services that make sense sometimes to our most", "start": 2276.839, "end": 2283.8}, {"text": "vulnerable and sometimes to all of those who enjoy this great City it can be increased nutrition through school food", "start": 2283.8, "end": 2291}, {"text": "programs it is the fact that many more of our libraries are open seven days a", "start": 2291, "end": 2296.4}, {"text": "week an increase of Sunday service is something that has been talked about for a while and we are now seeing it happen", "start": 2296.4, "end": 2303.44}, {"text": "within our library system we have more bookings available in our Recreation centers including more spaces for people", "start": 2303.44, "end": 2309.88}, {"text": "in those traditional programs that people clamor for each and every year and more dropin hours for those that", "start": 2309.88, "end": 2316.24}, {"text": "wish to Simply come and enjoy our fantastic recreational facilities and for our young people which will be a", "start": 2316.24, "end": 2322.76}, {"text": "theme again in 2025 is budget we now have uh more youth hubs up and running", "start": 2322.76, "end": 2328.48}, {"text": "as places for young people to invest in so I conclude by saying that uh we are", "start": 2328.48, "end": 2334.599}, {"text": "on a pathway where we can see the March towards SU sustainability as we develop", "start": 2334.599, "end": 2339.76}, {"text": "each Year's budgets we are very clear to try and find ways that we can suggest", "start": 2339.76, "end": 2345.4}, {"text": "how we match our priorities from a community perspective and from a council perspective in terms of the budget that", "start": 2345.4, "end": 2351.92}, {"text": "we produce but I need to make it very clear as I turn things over to our Chief Financial Officer this Pathway to", "start": 2351.92, "end": 2359.04}, {"text": "success will only be possible if we have those continued Partnerships not only", "start": 2359.04, "end": 2364.56}, {"text": "with the taxpayers of the city of Toronto but also with other orders of government who will be critical to our", "start": 2364.56, "end": 2370.119}, {"text": "success in the long term thanks and over to you", "start": 2370.119, "end": 2374.88}, {"text": "Steve thank you Paul uh and before I start I'd like to extend my thanks to our budget chair counselor Carol um and", "start": 2375.28, "end": 2382.52}, {"text": "budget committee members for all your support in this year's process I'd also like to take a moment to extend my", "start": 2382.52, "end": 2388.119}, {"text": "thanks to staff across the organization that have supported the budget development and helped us get to this", "start": 2388.119, "end": 2393.44}, {"text": "point today that has to start with our executive director of financial plan Alia Hutchinson who has been a valued", "start": 2393.44, "end": 2399.48}, {"text": "partner to me uh and the architect behind this year's budget and of course I need to extend that thanks to our", "start": 2399.48, "end": 2405.28}, {"text": "entire team and financial planning division I'd also like to thank Cindy Williamson just to my left and all my", "start": 2405.28, "end": 2411.119}, {"text": "supports in the office of the CFO uh and all the finance leads across our organization where we' worked closely", "start": 2411.119, "end": 2417.76}, {"text": "with anelisa minardi Marco Koko Alan Cohen Vivian ching and their respective teams to prepare the 2025 budget", "start": 2417.76, "end": 2427.359}, {"text": "collectively we are now ready to launch a balanced budget for 2025 this year's budget continues to", "start": 2427.8, "end": 2435.88}, {"text": "address our financial challenges through a multier approach that began last year and is already demonstrating positive", "start": 2435.88, "end": 2443.359}, {"text": "progress we began the process with a $1.2 billion opening pressure that has", "start": 2443.359, "end": 2448.64}, {"text": "been addressed through continued actions from our long-term financial plan Planned bridging strategies consistent", "start": 2448.64, "end": 2454.319}, {"text": "with our multiyear approach 680 million in reductions in offsets identified", "start": 2454.319, "end": 2460.079}, {"text": "through our review process and ultimately it's supported by a 5.4% residential property tax increase", "start": 2460.079, "end": 2466.52}, {"text": "specific to the operating budget while developing this year's budget we were committed to maintaining critical", "start": 2466.52, "end": 2472.56}, {"text": "services and service levels and continuing to apply the benefits achieved through our various Partnerships with the federal and", "start": 2472.56, "end": 2478.56}, {"text": "provincial governments we again had an opportunity to hear from the public prior to our budget launch today we", "start": 2478.56, "end": 2484.28}, {"text": "heard from 763 residents as part of budget consultation sessions and garnered over 12,000 responses to our", "start": 2484.28, "end": 2491.44}, {"text": "online budget survey through these consultations we heard what was most important to our residents were", "start": 2491.44, "end": 2497.319}, {"text": "investments in making life affordable providing community service getting Toronto moving and keeping people safe", "start": 2497.319, "end": 2504.119}, {"text": "and while the budget primarily aims to maintain and preserve services and continue down a path towards enhanced", "start": 2504.119, "end": 2510.16}, {"text": "fiscal sustainability we have also made critical new Investments totaling 94", "start": 2510.16, "end": 2515.28}, {"text": "million in these areas most valued by our", "start": 2515.28, "end": 2519.88}, {"text": "residents as we began work on the 2025 budget we also had to consider with", "start": 2520.64, "end": 2527.079}, {"text": "bringing forward a balanced budget both those challenges that are unique to Municipal budgeting or unique to the", "start": 2527.079, "end": 2533.24}, {"text": "city of Toronto itself like other municipalities we have limited Revenue options with a heavy Reliance on", "start": 2533.24, "end": 2539.599}, {"text": "property tax revenue that unlike sales tax or income tax is relatively static", "start": 2539.599, "end": 2545.24}, {"text": "outside of an annual rate change while there is limited natural growth in our Revenue base we continue to", "start": 2545.24, "end": 2551.4}, {"text": "experience both added costs to delivery Municipal Services as well as growing demand for our services driven by", "start": 2551.4, "end": 2557.359}, {"text": "population growth and an aging demographic on top of that Toronto has unique challenge is above and beyond our", "start": 2557.359, "end": 2563.64}, {"text": "peers arising from operations of our transit system and increasing demand and complexities for our shelter and social", "start": 2563.64, "end": 2570.88}, {"text": "services that said we are presenting a balanced budget and I'll take you through the next few slides to highlight", "start": 2570.88, "end": 2575.96}, {"text": "the actions that we've taken to make that happen we are presenting an operating", "start": 2575.96, "end": 2582.16}, {"text": "budget of 18.8 billion in Gross expenditures this includes 16.6 billion", "start": 2582.16, "end": 2588.48}, {"text": "uh or 88% of the overall budget for our tax supported programs and 2.2 billion or 12% for our rate supported programs", "start": 2588.48, "end": 2595.96}, {"text": "which include Toronto Waters solid waste and the parking authority total expenditures of 18.8 billion in the 2025", "start": 2595.96, "end": 2603.2}, {"text": "combined tax and rate supported operating budgets reflect a 1.8 billion increase from the 2024 budget however as", "start": 2603.2, "end": 2609.88}, {"text": "Paul noted earlier when adjusting for added flowthrough funding from the federal and provincial governments like", "start": 2609.88, "end": 2615.52}, {"text": "the Early Learning and Child Care Program and adjusting for our own internal transfers a more accurate", "start": 2615.52, "end": 2620.72}, {"text": "reflection of increased operating expenditures from the city would be 654", "start": 2620.72, "end": 2625.96}, {"text": "million or a 3.8% increase compared to last year this slide shows the total gross", "start": 2625.96, "end": 2633.079}, {"text": "and net budget for 2025 with the full length of the bar depicting the total spend for 2025 and the yellow bars", "start": 2633.079, "end": 2640.44}, {"text": "representing the amount of property tax funding dedicated to delivering those Services as reflected in this table we", "start": 2640.44, "end": 2646.839}, {"text": "continue to spend a significant amount on the city's cost-shared social programs with a total of 5.1 billion in", "start": 2646.839, "end": 2653.559}, {"text": "2025 this includes programs which receive contributions from other orders of government such as Toronto employment", "start": 2653.559, "end": 2659.839}, {"text": "employment and Social Services Children's Services shelter support housing Toronto Community Housing uh and", "start": 2659.839, "end": 2667.119}, {"text": "o includes uh long-term care homes and public health I won't speak to all the categories but I'll quickly note more", "start": 2667.119, "end": 2674.119}, {"text": "than 2.8 billion in spending is for transit services which is the next major spending category next are our rate", "start": 2674.119, "end": 2680.839}, {"text": "programs reflecting 12% of total Investments then the police budget with 1.4 billion in total", "start": 2680.839, "end": 2687.04}, {"text": "spend the 1.27 billion in capital financing support with about 970 million", "start": 2687.04, "end": 2693.2}, {"text": "in debt servicing costs and nearly 300 million in capital from current funding I'll also point out corporate accounts", "start": 2693.2, "end": 2700}, {"text": "with 1.25 billion includes expenses incurred on behalf of the entire organization such as insurance and", "start": 2700, "end": 2706.599}, {"text": "employee related liabilities this is also where we capture corporate Revenue such as dividends land transfer tax", "start": 2706.599, "end": 2713.2}, {"text": "which is why the budget reflects an overall net revenue in the", "start": 2713.2, "end": 2718.04}, {"text": "graphic we've shown the slide over the last few years and it captures the historical opening budget pressure the", "start": 2719.119, "end": 2725.92}, {"text": "city is faced on an annual basis this had to be addressed to ultimately present a balanced budget traditionally", "start": 2725.92, "end": 2731.76}, {"text": "the city would experience about a $600 million opening pressure what is important about this slide is actually", "start": 2731.76, "end": 2737.839}, {"text": "2024 where the nearly 1.8 billion pressure wasn't as significant as the pressures that we fa during the pandemic", "start": 2737.839, "end": 2744.76}, {"text": "but the key difference was there was no longer any expected Co covid support funding included in our budget and all", "start": 2744.76, "end": 2751.16}, {"text": "the remaining sustained pandemic impacts coupled with significant growth and inflationary impacts needed to be fully", "start": 2751.16, "end": 2758.319}, {"text": "addressed by our property tax base and other available City revenues given the magnitude of that opening pressure and", "start": 2758.319, "end": 2764.599}, {"text": "to avoid otherwise necessary reductions to critical city services we introduced the multi-year strategy to successfully", "start": 2764.599, "end": 2771.96}, {"text": "transition these pressures including sustained covid impacts to be permanently funded within the city's", "start": 2771.96, "end": 2777.44}, {"text": "budget in a way where we could over time get our annual opening budget pressure back in the range of 7 to 800 million as", "start": 2777.44, "end": 2785.64}, {"text": "you can see with the 2025 opening pressure of $1.2 billion our strategy coupled with provincial support from the", "start": 2785.64, "end": 2791.839}, {"text": "New Deal is working in fact the multi-year approach was specifically referenced as one of the reasons given", "start": 2791.839, "end": 2797.96}, {"text": "by our credit rating agency when we received our first credit rating increase in decades last", "start": 2797.96, "end": 2804.079}, {"text": "year while we're on the right path we were still faced with a $1.2 billion", "start": 2804.079, "end": 2809.44}, {"text": "opening pressure in 2025 which is double our traditional uh experience of $600", "start": 2809.44, "end": 2815.079}, {"text": "million and needs to be offset to achieve de balance budget so this is an updated version of", "start": 2815.079, "end": 2823.48}, {"text": "a slide that we've used in our budget consultation processes and aims to provide a visual representation of the", "start": 2823.48, "end": 2830.04}, {"text": "budget challenges we face in 2025 the large red tower that you see on", "start": 2830.04, "end": 2835.079}, {"text": "the left of the graphic represents to scale the 2025 opening budget pressure of 1.2 billion do that much smaller", "start": 2835.079, "end": 2843.319}, {"text": "green box uh just to the right of it reflects 40 6.4 million in annual", "start": 2843.319, "end": 2849.079}, {"text": "revenue that is generated from every 1% residential property tax increase so and", "start": 2849.079, "end": 2854.28}, {"text": "only to provide perspective to fully offset a $1.2 billion pressure through a", "start": 2854.28, "end": 2859.52}, {"text": "property tax change alone we would have required a 26% residential property tax", "start": 2859.52, "end": 2865.079}, {"text": "increase now the other Towers you see provide a tocale visual of the portion", "start": 2865.079, "end": 2870.2}, {"text": "of property tax funding that supports Municipal Services we provide in Toronto so alternatively if we were to have", "start": 2870.2, "end": 2876.599}, {"text": "appro approach the 2025 budget through program reductions alone we would need to eliminate expenses equivalent to the", "start": 2876.599, "end": 2883.119}, {"text": "full cost of our Transit service in the city that would include Subways street cars buses and even wheel trans service", "start": 2883.119, "end": 2889.839}, {"text": "to bring forward a balanced budget so obviously we didn't take either of those actions and I'll take you through the", "start": 2889.839, "end": 2895.359}, {"text": "approach that we have taken to bring forward a balanced budget in", "start": 2895.359, "end": 2900.119}, {"text": "2025 excuse me we are presenting a balanced budget with the continued lends of a multi-year approach through five", "start": 2902.2, "end": 2908.96}, {"text": "key balancing actions first as we always do as part of the annual budget process", "start": 2908.96, "end": 2914.4}, {"text": "staff review budget submissions and identify potential opportunities for offsets efficiencies and other Revenue", "start": 2914.4, "end": 2920.52}, {"text": "actions this year those actions totaled 680 million in offsets which uh when", "start": 2920.52, "end": 2926.839}, {"text": "factoring both 152 million in Opportunities identified as part of the budget submissions and a further 528", "start": 2926.839, "end": 2933.44}, {"text": "million in offsets identified post submission during our inter J review process these actions include 93 million", "start": 2933.44, "end": 2940.72}, {"text": "from line byline program reviews where we look at each expenditure category and specific commitment items to ensure", "start": 2940.72, "end": 2947.96}, {"text": "budgets reflect both prior year actual spending and our expectations in", "start": 2947.96, "end": 2953.359}, {"text": "20125 we also have 41 million inefficiencies this includes great work", "start": 2953.359, "end": 2958.64}, {"text": "by our staff in shelter and support services to drive savings from renegotiated hotel contracts efforts", "start": 2958.64, "end": 2965.64}, {"text": "from our teams in corporate Services where technology Services either decommission or renegotiated pricing on", "start": 2965.64, "end": 2971.88}, {"text": "system applications and Fleet Services who introduced a series of actions from retreading of tires to reassigning", "start": 2971.88, "end": 2978.28}, {"text": "underutilized Vehicles even our credit rating increase achieved through our prudent fiscal management and the", "start": 2978.28, "end": 2983.88}, {"text": "Ontario Toronto New Deal results in reductions in debt servicing", "start": 2983.88, "end": 2989.4}, {"text": "costs 294 million was also achieved through our program and Agency Reviews", "start": 2989.68, "end": 2995.16}, {"text": "following budget submissions both both our financial planning and program staff work collaboratively to validate all", "start": 2995.16, "end": 3001.359}, {"text": "budget assumptions and estimates providing essentially a challenge function this includes prioritization of", "start": 3001.359, "end": 3007.52}, {"text": "expenditures considering affordability and validating timing and cost assumptions we also included 219 million", "start": 3007.52, "end": 3015.04}, {"text": "in offsets through Revenue adjustments arising from a combination of inflation and volume changes to user fee revenue", "start": 3015.04, "end": 3021.52}, {"text": "and expected increases within our corporate revenues like investment income and or land transfer tax", "start": 3021.52, "end": 3027.559}, {"text": "our second action includes 41 million from continued realization of additional offsets achieved from actions", "start": 3027.559, "end": 3034}, {"text": "implemented as part of our long-term financial plan this includes added revenue from the graduated Municipal", "start": 3034, "end": 3040.2}, {"text": "land transfer tax rates on high value properties and revenues expected from", "start": 3040.2, "end": 3045.28}, {"text": "the newly implemented non-resident speculation tax third our balancing actions Factor 330 million in multi-year", "start": 3045.28, "end": 3052.48}, {"text": "bridging strategies which represent planned Reserve draws that were designed to be temporary measures to", "start": 3052.48, "end": 3058.88}, {"text": "strategically manage the pressure we face over the next few years as these bridging strategies are reversed in 2026", "start": 3058.88, "end": 3065.92}, {"text": "and 2027 they'll be replaced through other planned actions that are expected to materialize over the next few years", "start": 3065.92, "end": 3072.44}, {"text": "predominantly those arising as part of the long-term financial plan fourth the 2025 operating budget incorporates 250", "start": 3072.44, "end": 3079.76}, {"text": "million in additional revenue generated from a property tax rate increase of 5.4% and lastly consistent with our", "start": 3079.76, "end": 3086.76}, {"text": "recent experience we expect continued Federal funding to offset added costs for Refugee claimant", "start": 3086.76, "end": 3094.24}, {"text": "response this year's budget was heavily influenced by a series of public consultation sessions held this past", "start": 3095.92, "end": 3102.2}, {"text": "fall initiated by the mayor and the budget chair the city hosted a month-long engagement campaign including", "start": 3102.2, "end": 3108.48}, {"text": "the online survey and various consultation sessions for residents to participate in in total the rece the", "start": 3108.48, "end": 3113.799}, {"text": "city received over 12,000 responses to our online budget survey we also got to", "start": 3113.799, "end": 3119}, {"text": "meet with 763 participants at six different sessions including in-person and virtual", "start": 3119, "end": 3124.96}, {"text": "options across the city an additional 313 participants joined in a local", "start": 3124.96, "end": 3130.839}, {"text": "meeting hosted by Community organizations within uh indigenous black ande Equity deserving communities major", "start": 3130.839, "end": 3137.4}, {"text": "themes that were identified by by the public that coincide with where we have made added Investments include making", "start": 3137.4, "end": 3144.16}, {"text": "life affordable with a focus on affordable housing and for costs associated with Transit child care and", "start": 3144.16, "end": 3150.28}, {"text": "food getting Toronto moving expanding and improving reliability and accessibility of the TTC and traffic", "start": 3150.28, "end": 3157.559}, {"text": "infrastructure providing Community Services needs uh for enhanced programming at parks libraries and", "start": 3157.559, "end": 3164.4}, {"text": "community centers as well as climate action programs and keeping people safe uh prioritizing violence prevention and", "start": 3164.4, "end": 3171.799}, {"text": "proactive measures as well as increased funding for emergency services", "start": 3171.799, "end": 3177.64}, {"text": "the 2025 budget includes additional spending of 94 million in new and enhanced initiatives in areas consistent", "start": 3179.04, "end": 3185.839}, {"text": "with what we heard during public consultations for making life affordable we're supporting over 8,000 students in", "start": 3185.839, "end": 3192.48}, {"text": "school fold in school food programs we're supporting over 31,000 youth in Camp to food programs and added 300", "start": 3192.48, "end": 3200.04}, {"text": "households that will be supported through the rent Bank program for getting Toronto moving the", "start": 3200.04, "end": 3205.96}, {"text": "TTC budget includes funding for about 500,000 additional hours of Transit service funding is also included for", "start": 3205.96, "end": 3212.64}, {"text": "pilot projects aimed to reduce bunching and gapping on key bus and street car roads we're also continuing to add", "start": 3212.64, "end": 3219.359}, {"text": "traffic agents we will now have a 100 agents four times more than what we had", "start": 3219.359, "end": 3224.52}, {"text": "at this time last year which will continue to help improve travel times in key corridors we're providing Community", "start": 3224.52, "end": 3231.319}, {"text": "Services expanding Sunday service hours that will now be available at over 70 libraries investing in keeping our", "start": 3231.319, "end": 3238}, {"text": "Recreation facilities cleaner which was a key feedback we heard from the public and making outdoor pools available for", "start": 3238, "end": 3244.92}, {"text": "an extra two hours daily we're also keeping people safe continuing to invest in emergency services with", "start": 3244.92, "end": 3251.799}, {"text": "276 added positions between fire police and Paramedic Services while at the same", "start": 3251.799, "end": 3257.16}, {"text": "time also investing in youth violence prevention", "start": 3257.16, "end": 3261.88}, {"text": "programs advancing Financial sustainability for the city while preserving critical city services", "start": 3262.92, "end": 3268.2}, {"text": "requires us to continue to develop our budget through a multi-year approach our current estimated opening pressure for", "start": 3268.2, "end": 3274.2}, {"text": "2026 is approximately 1.07 billion this includes the reversal", "start": 3274.2, "end": 3279.599}, {"text": "of many of our bridging strategies full year costs for 2025 enhancements and expected growth and inflationary", "start": 3279.599, "end": 3286.04}, {"text": "pressures we expect the city's opening pressure could be further reduced to as low as 734 Million by 2027 Which is far", "start": 3286.04, "end": 3294.48}, {"text": "closer to our historical experience and sets the stage for enhanced Financial sustainability within our operating", "start": 3294.48, "end": 3301}, {"text": "budget absent any new or unforeseen pressures this can be achieved by 2027", "start": 3301, "end": 3306.319}, {"text": "within our multi-year plan through the phase reversal of temporary budget bridging strategies further", "start": 3306.319, "end": 3311.76}, {"text": "implementation of remaining long-term financial plan actions the continued identification of additional annual", "start": 3311.76, "end": 3318.119}, {"text": "offsets and reductions like the $680 million identified this year and consistent with our multi-year approach", "start": 3318.119, "end": 3324.72}, {"text": "we have assumed multi-year tax rates scenarios that do not reflect any approved plan but does support for modeling purposes it is important to", "start": 3324.72, "end": 3332.359}, {"text": "note that we will begin to see the reversal of the New Deal funding in 2027 when our current three-year agreement", "start": 3332.359, "end": 3338.16}, {"text": "comes to an end that said we continue to benefit from strong collaboration with our provincial partners and initial", "start": 3338.16, "end": 3344.68}, {"text": "actions have already begun and are underway to develop the New Deal 2.0 well in advance of the pressure noted in", "start": 3344.68, "end": 3350.88}, {"text": "the Outlook", "start": 3350.88, "end": 3354}, {"text": "as noted the 2025 operating budget incorporates a residential property tax", "start": 3359.799, "end": 3365.16}, {"text": "rate increase of 5.4% this equates to an annual increase of $210 to the average home which has an", "start": 3365.16, "end": 3372.68}, {"text": "assess value of about $692,000 or the equivalent of $17.50", "start": 3372.68, "end": 3378.44}, {"text": "monthly and just for clarity because I do get asked this quite often the current assessed value for all", "start": 3378.44, "end": 3384.359}, {"text": "Residential Properties in the city that is used for property tax purposes is accurate at", "start": 3384.359, "end": 3391.64}, {"text": "69200034", "start": 3399.52, "end": 3402.52}, {"text": "short for municipalities in Ontario I'd also like to note that the", "start": 3405.799, "end": 3411.52}, {"text": "city maintains property tax relief programs including the tax increased deferral program and the tax increase", "start": 3411.52, "end": 3417.559}, {"text": "cancellation programs in 2024 these programs benefited over 10,000", "start": 3417.559, "end": 3423.079}, {"text": "households and since 2015 has provided 44 million in tax relief for", "start": 3423.079, "end": 3428.88}, {"text": "multi-residential properties the budget reflects an increase of 2.7% which is half of the residential rate this rate", "start": 3428.88, "end": 3436}, {"text": "was considered with provincial rent guidelines in mind ensuring it is below threshholds that would enable rent", "start": 3436, "end": 3442.119}, {"text": "increases above provincial guidelines we've also introduced the new multi-res residential subclass that will be", "start": 3442.119, "end": 3448.119}, {"text": "available to new multi-residential developments and provide a 15% reduction", "start": 3448.119, "end": 3453.2}, {"text": "from the current residential rates this slide highlights uh proposed", "start": 3453.2, "end": 3460.079}, {"text": "property tax rate increases Incorporated in the operating budget for business properties the operating budget reflects", "start": 3460.079, "end": 3465.92}, {"text": "an increase of 5.4% for industrial properties and 2.7% for commercial", "start": 3465.92, "end": 3471.16}, {"text": "properties the commercial rate increase is half our residential increase consistent with provincial regulations", "start": 3471.16, "end": 3477.24}, {"text": "related to tax ratio thresholds since 2022 the city's also maintained a small", "start": 3477.24, "end": 3482.359}, {"text": "business property tax subclass which provides a 15% rate reduction to eligible properties this program which", "start": 3482.359, "end": 3489.64}, {"text": "was expanded last year currently benefits over 28,000 small", "start": 3489.64, "end": 3496.079}, {"text": "businesses back in December city council approved interm rate increases of 3.75%", "start": 3496.079, "end": 3502.039}, {"text": "for both Toronto water and Solid Waste Management Services which include water Water and Wastewater consumption rates", "start": 3502.039, "end": 3508.2}, {"text": "and solid waste rates and fees the prepared budget before you today confirms those rates with no change to", "start": 3508.2, "end": 3514.44}, {"text": "the 3.75% this will result in an average annual increase of $39 based on a 230 cubic meters of water", "start": 3514.44, "end": 3523.039}, {"text": "consumed and it will result in an average of $11 to $21 for single family", "start": 3523.039, "end": 3528.079}, {"text": "homes depending on the size of their garbage bins", "start": 3528.079, "end": 3533.2}, {"text": "okay I'm now going to take us through the capital budget in plan the 10-year capital budget totals", "start": 3537.4, "end": 3544.28}, {"text": "nearly $60 billion with 5.2 billion in spending in 2025 alone this is the", "start": 3544.28, "end": 3551.079}, {"text": "city's largest ever Capital plan and by a significant amount the city's Capital", "start": 3551.079, "end": 3556.839}, {"text": "plan is increased by nearly $10 billion or 20% compared to just last year's plan", "start": 3556.839, "end": 3562.96}, {"text": "the budget enables added critical and key Investments in areas like Transit and transportation infrastructure aging", "start": 3562.96, "end": 3569.319}, {"text": "City facilities that are critical to providing community services and housing flood protection and Net Zero", "start": 3569.319, "end": 3575.64}, {"text": "initiatives informed by our Capital Asset Management plan and our Capital prioritization framework the 10-year", "start": 3575.64, "end": 3581.96}, {"text": "Capital plan not just prioritizes investments in critical State good repair funding but really moves the", "start": 3581.96, "end": 3587.4}, {"text": "needle on addressing our sgr backlog 54% of plan spending or $ 32.4 billion of", "start": 3587.4, "end": 3595.48}, {"text": "the 60 billion Capital plan is dedicated to sgr Investments this represents a 31%", "start": 3595.48, "end": 3601.92}, {"text": "increase in Sr funding over the last two years alone and while the sgr backlog is still expected to grow we're now", "start": 3601.92, "end": 3608.599}, {"text": "starting to see the flattening of that growth curve this year's budget also continues to enhance our climate Focus", "start": 3608.599, "end": 3615.24}, {"text": "climate mitigation and adaptation actions aim to reduce over 160,000 tons of CO2 emissions which is a 69% increase", "start": 3615.24, "end": 3623.52}, {"text": "from the 2024 plan and we continue to have great success with our sustainable debenture programs with the issuance of", "start": 3623.52, "end": 3629.64}, {"text": "both green bonds and social bonds to support Finance uh to finance Capital", "start": 3629.64, "end": 3635.119}, {"text": "infrastructure the city is able to make significant increases in capital Investments while maintaining a balanced", "start": 3635.119, "end": 3640.599}, {"text": "plan and staying within our 15% Debt Service ratio we've been able to do this through the incredible partnership", "start": 3640.599, "end": 3646.48}, {"text": "secured with the province through the New Deal that has enabled the city to reallocate 1.9 billion in funding that", "start": 3646.48, "end": 3652.24}, {"text": "was intended for the Garder Expressway to critical sgr needs in the city as well as provincial contributions towards", "start": 3652.24, "end": 3658.88}, {"text": "new line 2 subway cars that was unlocked thanks to the federal government and the Canada public", "start": 3658.88, "end": 3665.44}, {"text": "transit fund with an expected 1.2 billion allocated to the city of Toronto furthermore the budget continues to", "start": 3665.44, "end": 3671.96}, {"text": "maximize the use of non-debt financing strategies wherever possible and lastly the capital budget continues to be", "start": 3671.96, "end": 3678.44}, {"text": "supported by an added 1.5% Levy increase for the city building fund which is", "start": 3678.44, "end": 3683.96}, {"text": "leveraged to support critical investments in in transit and housing similar to the operating budget", "start": 3683.96, "end": 3690.839}, {"text": "we began on this year's Capital program with consideration of challenges unique to our Capital needs on the demand side", "start": 3690.839, "end": 3698.039}, {"text": "we have to consider both the impact of our aging infrastructure on the cost and ability to maintain city services as", "start": 3698.039, "end": 3704.4}, {"text": "well as the need to make infrastructure Investments that support a growing population and increased demand for City", "start": 3704.4, "end": 3710.24}, {"text": "Services we also have to consider capacity when I say that I mean the capacity to deliver capital work our", "start": 3710.24, "end": 3716.559}, {"text": "financial capacity to support Capital needs that extend beyond our sole Financial reach and how we prioritize", "start": 3716.559, "end": 3723.4}, {"text": "Capital work in the context of rising Capital costs I'll take you through the next few slides to highlight how we had", "start": 3723.4, "end": 3729.92}, {"text": "to navigate these challenges while at the same time bringing forward the city's largest ever investment in", "start": 3729.92, "end": 3735.319}, {"text": "capital infrastructure briefly the 10year growth Capital plan is 59.6 billion this", "start": 3735.319, "end": 3743.4}, {"text": "includes 40.2 billion or 67% % for our tax supported programs and 19.4 billion", "start": 3743.4, "end": 3749.119}, {"text": "or 33% for our rate supported programs of Toronto water solid waste and the parking", "start": 3749.119, "end": 3755.68}, {"text": "authority the capital plan of nearly 60 billion will guide decisions on what investments will be made to purchase", "start": 3755.68, "end": 3761.92}, {"text": "build and repair City infrastructure looking at Key investments in this chart you see that 17.6 billion or 28% of our", "start": 3761.92, "end": 3770.52}, {"text": "Capital plan is directed to Water and Wastewater infrastructure and storm water investments which which is", "start": 3770.52, "end": 3776.039}, {"text": "predominantly supported through water rate revenue and planned annual rate increases and has no Reliance on", "start": 3776.039, "end": 3781.559}, {"text": "tax-based funding the city's highest investment of tax-based funding is in transit at 17 billion this represents", "start": 3781.559, "end": 3788.839}, {"text": "26% of the total Capital plan and with the considerable added Investments made in this year's plan has nearly surpassed", "start": 3788.839, "end": 3795.96}, {"text": "Toronto water as our largest area of capital investment the city is also committed to spending 4.5 billion in", "start": 3795.96, "end": 3802.119}, {"text": "housing coupled with a further 4.5 billion in foregone Revenue provided to", "start": 3802.119, "end": 3807.279}, {"text": "incentivize the development of affordable homes and rent controlled homes in addition we continue to", "start": 3807.279, "end": 3812.52}, {"text": "advocate for funding from other orders of government to further increase Toronto's housing Supply we're also", "start": 3812.52, "end": 3818.48}, {"text": "investing a further 6.1 billion in transportation and Mobility through investments in roads in Bridge repair", "start": 3818.48, "end": 3824.799}, {"text": "and in safety infrastructure the city will also spend 5.2 billion on environment and Recreation initiatives", "start": 3824.799, "end": 3830.96}, {"text": "this includes Investments within Parks Waterfront revitalization environment and energy as as well as a trono", "start": 3830.96, "end": 3836.52}, {"text": "regional conservation Authority our large area of capital", "start": 3836.52, "end": 3842.279}, {"text": "funding is from water rate Revenue totaling 16.1 billion which speaks to the success we have had in directing", "start": 3842.279, "end": 3848.76}, {"text": "annual water rate increases to support investments in water infrastructure traditional tax supported debt funding", "start": 3848.76, "end": 3855.16}, {"text": "totals 10.5 billion and while we've added debt funding this year our debt service costs remain under 15% in each", "start": 3855.16, "end": 3861.72}, {"text": "year of the plan in addition to traditional tax supported debt the city building fund contributes 8.5 billion or", "start": 3861.72, "end": 3869.319}, {"text": "14% of total Capital Investments and is applied against Transit and housing initiatives rounding out debt funding we", "start": 3869.319, "end": 3876.24}, {"text": "have about 1.6 billion funded through recoverable debt which will be serviced through additional Revenue sources", "start": 3876.24, "end": 3881.96}, {"text": "generated through those Capital Investments these three debt related sources total over 20 billion or 34% of", "start": 3881.96, "end": 3888.76}, {"text": "all funding in the 10e capital plan moving down the chart development charges fund about 6.1 billion or 10% of", "start": 3888.76, "end": 3896.92}, {"text": "our total Capital funding these are dedicated to growth related Investments our Capital plan also leverages enhanced", "start": 3896.92, "end": 3903}, {"text": "funding Partnerships with the government of Canada and province of Ontario with total combined funding of $8 billion", "start": 3903, "end": 3909.039}, {"text": "reflecting over 133% of total Capital funding there's a further 3.6 billion in", "start": 3909.039, "end": 3914.68}, {"text": "capital from current funding and Reserve funds excluding draws from water development charge and city building", "start": 3914.68, "end": 3920.279}, {"text": "fund reserves account for 3.5 billion in capital funding this level of funding is", "start": 3920.279, "end": 3925.359}, {"text": "cons consistent with commitments against City reserves where annual contributions are made often through the operating", "start": 3925.359, "end": 3931.039}, {"text": "budget to support planned Capital Investments an example includes Fleet Reserve contributions that support", "start": 3931.039, "end": 3937.319}, {"text": "vehicle procurement plans in the capital budget there is an added 1.5% Levy", "start": 3937.319, "end": 3945.16}, {"text": "increase specific to the capital program and for the city building fund which will result in an annual increase of $58", "start": 3945.16, "end": 3952.559}, {"text": "for the average home or the equivalent of $48 6 cents each month consistent", "start": 3952.559, "end": 3957.72}, {"text": "with council's endorsement in 2023 and how the 10-year Capital plan was developed an annual Levy increase of", "start": 3957.72, "end": 3963.52}, {"text": "1.5% is expected each year until 2035 for the city building fund and with the", "start": 3963.52, "end": 3969.24}, {"text": "continued growth in the city's Capital plan the city building fund remains critical in supporting priority", "start": 3969.24, "end": 3974.599}, {"text": "Investments the city building fund Levy is specifically dedicated to support transing and housing investments in our", "start": 3974.599, "end": 3980.76}, {"text": "Capital plan and in 2025 the city building fund is expected to generate 3 84 million in Revenue to date 1.4", "start": 3980.76, "end": 3989.2}, {"text": "billion in Investments have been spent or committed due to the city building fund and as you heard in our previous", "start": 3989.2, "end": 3995.319}, {"text": "slides um will support an additional 8.5 billion in capital Investments over the", "start": 3995.319, "end": 4000.559}, {"text": "next 10 years as I mentioned earlier the capital", "start": 4000.559, "end": 4006.319}, {"text": "plan is increased by nearly 10 billion or 20% compared to last year about half", "start": 4006.319, "end": 4011.64}, {"text": "of that increase has been directed towards investments in transit and transportation for TTC alone the capital", "start": 4011.64, "end": 4017.52}, {"text": "plan is over $16 billion about 34% from increase from last year and about 50%", "start": 4017.52, "end": 4024.44}, {"text": "increase from a capital plan that was only 6.5 billion in 2018 which was just", "start": 4024.44, "end": 4029.76}, {"text": "before the development of the ttc's original capital investment plan with this added level of investment", "start": 4029.76, "end": 4036.2}, {"text": "supported by added funding from our partners in the federal and provincial governments we're able to acquire 55", "start": 4036.2, "end": 4041.839}, {"text": "replacement subway cars for line two 1.2 billion will be in invested to purchase about 700 ebes and 950 charging systems", "start": 4041.839, "end": 4050.559}, {"text": "1 billion is being added for investments in both critical Subway infrastructure repair like signals electrical and", "start": 4050.559, "end": 4057.079}, {"text": "communication systems and climate adaptation resiliency and efficiency measures we're also adding 500 million", "start": 4057.079, "end": 4064.279}, {"text": "to overhaul programs for buses street cars and Subways at the same time we're", "start": 4064.279, "end": 4069.799}, {"text": "making added investments in transportation services with an added 380 million for City Bridge and Road", "start": 4069.799, "end": 4077.16}, {"text": "Rehabilitation consistent with what we heard from our residents we're also investing an added $2 billion in Housing", "start": 4077.16, "end": 4084.16}, {"text": "and Community improvements this includes 400 million to advance dayto good repair efforts in our Recreation facilities 349", "start": 4084.16, "end": 4092.039}, {"text": "million in a combination of added direct Investments and incentives to enable housing Supply and build more affordable", "start": 4092.039, "end": 4098.679}, {"text": "homes we continue to invest in repairing tchc buildings with an added 300 million investment in this year's plan", "start": 4098.679, "end": 4106.199}, {"text": "and we have also added a further 223 million to continue to advance our homelessness service Capital", "start": 4106.199, "end": 4112.359}, {"text": "infrastructure", "start": 4112.359, "end": 4115.04}, {"text": "strategy investments in state good repair continue to be a city priority", "start": 4119.56, "end": 4125.278}, {"text": "32.4 billion or 54% of all planned Capital spending over the next 10 years", "start": 4125.279, "end": 4131.238}, {"text": "will be on state of good repair initiatives this reflects an increase of 6 billion over what was identified in the 2024", "start": 4131.239, "end": 4138.04}, {"text": "Capital plan in fact Council has had to recently make some very tough decisions", "start": 4138.04, "end": 4143.159}, {"text": "on where to invest in capital and The Prudent financial management that council's demonstrated has enabled the", "start": 4143.159, "end": 4148.838}, {"text": "city to increase Sr funding by 31% over the last two years alone in addition to", "start": 4148.839, "end": 4155}, {"text": "that our s sogr Investments have been informed by our Capital Asset Management plan with added investment in areas", "start": 4155, "end": 4160.92}, {"text": "where our backlog was growing at a pace which was significantly greater than our level of investment based on this we", "start": 4160.92, "end": 4168.159}, {"text": "have prioritized SG a funding in areas like Transit community housing Transportation City facilities and Park", "start": 4168.159, "end": 4174.359}, {"text": "and Recreation infrastructure on top of that the city building fund has continued to help us further mitigate", "start": 4174.359, "end": 4180.199}, {"text": "Transit and housing sgr pressures and lastly as a direct result of the provincial New Deal we've been able to", "start": 4180.199, "end": 4186.44}, {"text": "remove the city's single largest Sr liability in the form of the Gardner expressway and redirect $1.9 billion in", "start": 4186.44, "end": 4194.719}, {"text": "funding relief to critical infrastructure renewal as this slide demonstrates The", "start": 4194.719, "end": 4201.199}, {"text": "Gardener upload has enabled us to redirect relief funding to other sgr needs through this reallocation we've", "start": 4201.199, "end": 4207.12}, {"text": "been able to add 500 million to the TTC 420 million to Parks forestry and", "start": 4207.12, "end": 4212.28}, {"text": "Recreation 380 million to transportation services 300 million to Toronto", "start": 4212.28, "end": 4217.6}, {"text": "Community Housing and 200 million to City facilities within our corporate Real Estate Management", "start": 4217.6, "end": 4223.199}, {"text": "budget these also happen to be the program areas where despite our ongoing efforts our s sogr needs have been", "start": 4223.199, "end": 4229.64}, {"text": "significantly outpacing our level of investment even with the added", "start": 4229.64, "end": 4236.08}, {"text": "Investments I've described the city's Sr backlog is still growing we have a backlog of 9.4 billion at the end of", "start": 4236.08, "end": 4242.88}, {"text": "2024 that is expected to increase by to 18 billion by 2034 however with this", "start": 4242.88, "end": 4249.6}, {"text": "year's added investment not only do we see an initial decrease in our backlog but we're starting to see the flattening", "start": 4249.6, "end": 4255.8}, {"text": "of that growth curve we're still expecting our backlog to grow by about 8.6 billion over the next 10 years but", "start": 4255.8, "end": 4262.199}, {"text": "that is a 29% decrease in our forecasted growth from this time last year not only", "start": 4262.199, "end": 4268.36}, {"text": "does this added investment enable us to address critical backlog needs but through this investment we can enhance", "start": 4268.36, "end": 4274.4}, {"text": "the reliability of our Capital assets reduce reactive maintenance costs and with the cost escalation we've recently", "start": 4274.4, "end": 4280.76}, {"text": "seen in our Capital work the earlier we can address required capital work the", "start": 4280.76, "end": 4286.12}, {"text": "less it will ultimately cost the city this change demonstrates council's commitment to prioritizing sgr", "start": 4286.12, "end": 4292.679}, {"text": "Investments and we will continue to leverage all the tools and strategies available to us to seek further gains", "start": 4292.679, "end": 4299.48}, {"text": "against our s sogr backlog moving forward the Capital plan also continues", "start": 4299.48, "end": 4305.92}, {"text": "to be developed with a climate focus and this year's um and this year projects", "start": 4305.92, "end": 4310.96}, {"text": "have been prioritized using the new carbon budget prioritization process the 10-year Capital plan makes investments", "start": 4310.96, "end": 4317.12}, {"text": "in climate mitigation and adaptation actions aimed at reducing about 161,000", "start": 4317.12, "end": 4322.4}, {"text": "tons of CO2 emissions while also improving resiliency to climate change key actions across key sectors include", "start": 4322.4, "end": 4329.88}, {"text": "buildings as the largest source of greenhouse gas emissions in Toronto the city is focused on reducing emissions", "start": 4329.88, "end": 4335.56}, {"text": "from buildings to have a meaningful impact on the city's climate objectives mobility and Fleet there are a wide", "start": 4335.56, "end": 4341.8}, {"text": "range of projects across the city divisions and agencies which posit POS L contribute to the city's climate goals", "start": 4341.8, "end": 4347.28}, {"text": "including investments in bite share and TTC Green Bus procurement Investments are also being made by our rate programs", "start": 4347.28, "end": 4354.08}, {"text": "including the basement flooding Protection Program and Investments at the duff Organics processing facility", "start": 4354.08, "end": 4359.28}, {"text": "and finally there other actions to achieve greater resiliency including the Portland's flun protection project", "start": 4359.28, "end": 4365.44}, {"text": "stream restoration and rosing control and enhance green spaces I'd also like to note that for the first time um we", "start": 4365.44, "end": 4372.84}, {"text": "will be presenting on our Citywide invest Ms in climate action during our program reviews taking place this", "start": 4372.84, "end": 4379.44}, {"text": "Wednesday January 15th and there'll be an ability to be able to speak to all of our climate change actions and be able", "start": 4379.44, "end": 4386}, {"text": "to um ask any of the questions detailed across Citywide", "start": 4386, "end": 4391.239}, {"text": "perspective so the city of Toronto was on a challenged Financial path which", "start": 4391.8, "end": 4397.08}, {"text": "couldn't keep Pace with the growing number of capital and operating pressures as the economic engine of Ontario and Canada the path we were on", "start": 4397.08, "end": 4404.36}, {"text": "the challenge we faced were truly unique to Toronto torontonians have stepped up", "start": 4404.36, "end": 4410.239}, {"text": "um to do all they could but it was clear that the city could not change direction alone or overnight now as we enter the", "start": 4410.239, "end": 4416.8}, {"text": "second year of Al marier approach to budgeting we are beginning Down A New Path that is already started to enhance", "start": 4416.8, "end": 4422.679}, {"text": "our future Financial stability this year's operating budget of $8.8 billion maintain services", "start": 4422.679, "end": 4430.04}, {"text": "and service levels while making key investments in areas we heard were most important to Toronto and", "start": 4430.04, "end": 4435.76}, {"text": "making life affordable providing Community Services getting Toronto moving and keeping people safe the", "start": 4435.76, "end": 4440.96}, {"text": "10-year Capital plan of almost $60 billion continues to prioritize investments in state of good repair", "start": 4440.96, "end": 4446.719}, {"text": "while making advancements in transit Housing and Community infrastructure with the support of our", "start": 4446.719, "end": 4451.92}, {"text": "federal and provincial Partners we've been able to increase our investments in critical Capital infrastructure by almost 20% compared to last year while", "start": 4451.92, "end": 4459.36}, {"text": "still staying within our debt service limits because of this we're starting to see the flattening of our srgr goth", "start": 4459.36, "end": 4464.76}, {"text": "curve and continuing to also Advance our climate actions", "start": 4464.76, "end": 4470.639}, {"text": "okay there's a lot so I'll just quickly run us through the budget schedule um before I fully", "start": 4470.639, "end": 4477.76}, {"text": "wrap things up I'll take a moment to go over the upcoming uh dates that we have available later this week from January", "start": 4477.76, "end": 4483.679}, {"text": "15th to 17th you'll receive presentations from service areas and key agencies the city will for the second", "start": 4483.679, "end": 4490.28}, {"text": "year now be hosting telephone Town Halls providing more opportunities for residents to participate in the budget", "start": 4490.28, "end": 4496.12}, {"text": "process these will happening these will happen in the evenings of January 15th and the 23rd and provide another", "start": 4496.12, "end": 4502.239}, {"text": "opportunity to um to connect with our community on February 21st and", "start": 4502.239, "end": 4508.28}, {"text": "22nd uh sorry I believe that's January there will be uh another opportunity for", "start": 4508.28, "end": 4513.48}, {"text": "the public to participate through deputations the budget committee on January 24th we'll have a wrapup budget", "start": 4513.48, "end": 4519.639}, {"text": "committee meeting to review our future budget materials uh and answer any final questions that that people may have then", "start": 4519.639, "end": 4527.48}, {"text": "there will be a special city council meeting on February 11th to discuss the budget following the mayor's release of", "start": 4527.48, "end": 4533.199}, {"text": "our final proposed budget by February 1st we really do encourage people to get", "start": 4533.199, "end": 4540.36}, {"text": "involved in the budget process following from the fall budget consultations there are still", "start": 4540.36, "end": 4545.719}, {"text": "opportunities to hear feedback and input from residents and businesses this includes the telephone Town Halls that I", "start": 4545.719, "end": 4551.52}, {"text": "just mentioned speaking to budget committee on January 21st 22nd through written feedback to budget committee or", "start": 4551.52, "end": 4557.96}, {"text": "you can always contact your local counselor with that said thank you very", "start": 4557.96, "end": 4563.239}, {"text": "much um I thank our budget chair our budget committee members for your time this morning and we look forward to", "start": 4563.239, "end": 4569.159}, {"text": "continued discussions over the next month in support of the 2025 budget okay", "start": 4569.159, "end": 4575.36}, {"text": "thank you very much um we're going to go to questions the you'll you'll note if you're if you're looking at the the", "start": 4575.36, "end": 4581.96}, {"text": "paper copy you you've also got appendices of all all those the great kind of slides that are are great ways", "start": 4581.96, "end": 4588.48}, {"text": "of communicating in your ward we're not going to walk all the way through them but but they're there and they're a huge", "start": 4588.48, "end": 4595.32}, {"text": "help in in doing your own uh uh Ward town halls and and uh eblasts and such", "start": 4595.32, "end": 4602.52}, {"text": "so uh um that's you've already got the start of your kit there so to uh go to", "start": 4602.52, "end": 4609.84}, {"text": "uh questions um I'm going to look for non-member question some of the people", "start": 4609.84, "end": 4615.04}, {"text": "have left who I thought had questions uh amongst non-members uh um do you have", "start": 4615.04, "end": 4620.96}, {"text": "questions councelor Meyers um put councelor Meyers down", "start": 4620.96, "end": 4626.239}, {"text": "councelor chanti uh and then we'll we'll we'll take it in um if you are watching and", "start": 4626.239, "end": 4633.12}, {"text": "waiting for question time if you're watching from your office we're taking questions from non-budget committee", "start": 4633.12, "end": 4638.8}, {"text": "members right now but I only have two on the list uh and as always remember today", "start": 4638.8, "end": 4644.239}, {"text": "it's it's a about the the presentation that we just got it's the overview presentation so councelor Myers why", "start": 4644.239, "end": 4650.239}, {"text": "don't you kick us off thank you uh through you chair uh I guess my first", "start": 4650.239, "end": 4655.28}, {"text": "question is uh you had mentioned the current current property tax assessment is based on the 2016 valuations do we", "start": 4655.28, "end": 4663.84}, {"text": "know when that will be updated and will that will that update have an effect on our", "start": 4663.84, "end": 4670.12}, {"text": "budget uh to the speaker so I'm not certain when the the next next uh review", "start": 4670.12, "end": 4676.159}, {"text": "will be done by empac um so there are conversations that are happening now we continue to have dialogue with our", "start": 4676.159, "end": 4682.32}, {"text": "partners uh I'm still not certain when that will happen I will caution in terms", "start": 4682.32, "end": 4687.4}, {"text": "of any changes in the assess value of a property it does not result in any additional Revenue to the city um what", "start": 4687.4, "end": 4694.679}, {"text": "you would see is you would see a shift potentially between Properties or between classes but it Nets out to zero", "start": 4694.679, "end": 4700.76}, {"text": "change for the city the way I like to explain it in simplest terms um is if the average house property value", "start": 4700.76, "end": 4707.239}, {"text": "increased by $100,000 and your house increased by 150 you'll probably be", "start": 4707.239, "end": 4712.44}, {"text": "paying more but if your house increased by 50,000 you're probably going to be paying less and essentially it Nets out", "start": 4712.44, "end": 4718.719}, {"text": "for the city so there is no impact so the individual homeowners may see a", "start": 4718.719, "end": 4723.84}, {"text": "decrease or increase but for the city it would be Revenue neutral uh to the speaker that's correct thank you and", "start": 4723.84, "end": 4730.719}, {"text": "then I guess my next question is what is the focus of 2025 budget like what are", "start": 4730.719, "end": 4737}, {"text": "the the the things that this budget is focused on improving I sort of see a lot of things here but in terms of we if we", "start": 4737, "end": 4743.84}, {"text": "had to explain it to the average person on the street what are like the two or three things that this budget is really", "start": 4743.84, "end": 4749.199}, {"text": "trying to tackle sorry there we go to the speaker", "start": 4749.199, "end": 4755.639}, {"text": "uh I'll start with operating and then I'll I'll touch on Capital I think in operating first and foremost is", "start": 4755.639, "end": 4760.88}, {"text": "continuing down that multi-year approach to enhance fiscal sustainability we have to get back to the place where", "start": 4760.88, "end": 4766.8}, {"text": "our opening budget pressures are aligned with around a 700 to 800 million opening pressure just as important in that and", "start": 4766.8, "end": 4772.96}, {"text": "as we built the budget it was around taking actions that both preserved and maintained services but also made", "start": 4772.96, "end": 4778.88}, {"text": "investments in those areas that we heard from the public that were most important so we highlighted the four areas um from", "start": 4778.88, "end": 4785.32}, {"text": "keeping tonal safe addressing Mobility um affordability so those were very much a", "start": 4785.32, "end": 4791.84}, {"text": "focus as we built this budget so it was a combination both of going down that fiscal path um while also preserving", "start": 4791.84, "end": 4798.199}, {"text": "services and making key Investments on the capital side I think you've probably heard me speak for many years now around", "start": 4798.199, "end": 4803.639}, {"text": "the challenges with the growing backlog in capital uh there has been an incredible Focus not just through this", "start": 4803.639, "end": 4809.28}, {"text": "budget but really over the last year year and a half to prioritize our investments in stay good repair as I", "start": 4809.28, "end": 4815.56}, {"text": "mentioned in the presentation we've had to make tough decisions we've made tough decisions on investments and uh growth", "start": 4815.56, "end": 4820.88}, {"text": "related initiatives or service related initiatives in capital um but what you see in this budget is is really the", "start": 4820.88, "end": 4826.88}, {"text": "results of those efforts and that prudent financial management where we are starting to see some real change in", "start": 4826.88, "end": 4833.08}, {"text": "that growth in our s sogr backlog thank you and then on page 17 um 2025", "start": 4833.08, "end": 4840.08}, {"text": "balancing actions line by line reviews you have 93 millions and efficiencies 41 million could you just go into and", "start": 4840.08, "end": 4846.8}, {"text": "program agencies and reviews 294 are those avoided cost or actual", "start": 4846.8, "end": 4852.84}, {"text": "cuts uh to the speaker so there is a", "start": 4852.84, "end": 4858.04}, {"text": "combination of actions that are taken so the efficiencies would be true Cuts in actual expenditures those are where we", "start": 4858.04, "end": 4863.96}, {"text": "were found opportunities or options to continue to provide the services we provide but at a reduced cost uh line by", "start": 4863.96, "end": 4871.08}, {"text": "line would be a combination for the most part when we're looking at line by line we're looking at each expenditure category and even down to the commitment", "start": 4871.08, "end": 4877.56}, {"text": "items we'll look over the last 5 years in terms of what programs have actually spent compared to the budget allotments", "start": 4877.56, "end": 4883.52}, {"text": "they've had and we might actually reduce the budget or we would reduce some of the expectations that are included in", "start": 4883.52, "end": 4888.84}, {"text": "the budget in terms of programs and Agency Reviews those are more of us playing a challenge function for the", "start": 4888.84, "end": 4894.28}, {"text": "most part that would be cost avoidance not actual reductions in the budgets that you would see in Prior years um so", "start": 4894.28, "end": 4900.88}, {"text": "those would be the major areas that we looked at on the expenditure side and have the cuts have any direct impact on", "start": 4900.88, "end": 4907.88}, {"text": "Services delivered uh to the speaker the focus on this year's budget was bringing forward", "start": 4907.88, "end": 4913.239}, {"text": "a balanced budget that preserved or maintained Services there are no uh material changes that you will see in", "start": 4913.239, "end": 4919.56}, {"text": "terms of services that are being driven by budget decisions okay thank you very much okay thank you um counselors uh um", "start": 4919.56, "end": 4929.76}, {"text": "I have I have the clock but it's it's part of the hybrid meeting effect that we don't have the clock there for you so", "start": 4929.76, "end": 4935.84}, {"text": "I I am keeping the five minute time uh councelor chanti just before you start I forgot that councelor chernos Lyn is on", "start": 4935.84, "end": 4943.4}, {"text": "virtually did you have have any questions councelor Turnal", "start": 4943.4, "end": 4947.96}, {"text": "sln and I'm just trying to figure out how I request to be put on that list", "start": 4949, "end": 4954.8}, {"text": "okay uh when we're when we're in a committee room it's it's low Tech you basically turn your camera on and wave", "start": 4954.8, "end": 4960.48}, {"text": "at me okay all right so my camera is on you you can put me at the bottom of the list", "start": 4960.48, "end": 4966.96}, {"text": "though I'm fine with that oh okay well actually it's a short list of non-members H uh councelor chanti is", "start": 4966.96, "end": 4973.239}, {"text": "going to ask questions I haven't seen anybody else come in um so he's going to take another five minutes uh if you want", "start": 4973.239, "end": 4980.4}, {"text": "I can go through the budget committee members and you can listen to their questions first that's a that's a uh a a", "start": 4980.4, "end": 4986.8}, {"text": "courtesy I I think we can afford you since this is your first budget some of them may get answered in", "start": 4986.8, "end": 4993.6}, {"text": "that process so happy to happy to do that H thank you okay cool okay", "start": 4993.6, "end": 4998.679}, {"text": "councelor chanti if you want to go ahead uh yes chair thank you so much and and good morning everyone and uh uh good", "start": 4998.679, "end": 5006.36}, {"text": "morning uh to you as well and and uh for your presentation look I know that uh there's a tremendous amount of effort", "start": 5006.36, "end": 5012.52}, {"text": "and work that goes into every year when we do our budget and we also recognize the how critical important it is not", "start": 5012.52, "end": 5018.239}, {"text": "only to torontonians taxpayers the city of Toronto to our city staff everyone so", "start": 5018.239, "end": 5024.08}, {"text": "uh it's challenging and and uh and and and and thank you for all the work that you've done on this I just start with", "start": 5024.08, "end": 5030.159}, {"text": "that now as far as I just want to get some clarity along the lines of uh um uh", "start": 5030.159, "end": 5035.4}, {"text": "going to refer back to slide 19 uh where you speak to keeping people", "start": 5035.4, "end": 5041.6}, {"text": "safe and there's 276 additional emergency service positions fire police", "start": 5041.6, "end": 5047.6}, {"text": "paramedics um slide nine uh alternativ has some", "start": 5047.6, "end": 5054.28}, {"text": "different numbers that don't add up to the numbers on page 19 I'm wondering if we could reconcile that or maybe we can", "start": 5054.28, "end": 5060.96}, {"text": "explain that sure to the to the speaker uh slide N9 I'm going to go off memory I", "start": 5060.96, "end": 5066.4}, {"text": "believe is the results of the Investments that were made in the 2024 budget so through the actions that were", "start": 5066.4, "end": 5072.679}, {"text": "made in the 2024 budget I'm just going to confirm that that is in fact slide nine it is great good memory um so those", "start": 5072.679, "end": 5079.639}, {"text": "are the actions and Investments that we made through the 2024 budget those are increases in approved commission uh", "start": 5079.639, "end": 5085.44}, {"text": "positions that are already in place today where we've added Staffing and fire paramedics and the police what you", "start": 5085.44, "end": 5092.159}, {"text": "see in the Investments that we include in the operating section are further Investments that we're making in emergency services in 2025 so really the", "start": 5092.159, "end": 5100.28}, {"text": "true benefit is the combined impact of both what you see in slide nine and what you see in the operating", "start": 5100.28, "end": 5107.48}, {"text": "section sorry say again combined impact of Slide N and slide 19 so those would be the", "start": 5107.48, "end": 5115.159}, {"text": "increases in emergency services that are being made over two years so if we have", "start": 5115.159, "end": 5120.239}, {"text": "funded the police to the tune of uh 4 $3 million I believe believe it's 46 off 46", "start": 5120.239, "end": 5127.6}, {"text": "million uh that will uh allow uh police services to uh have four full", "start": 5127.6, "end": 5135.28}, {"text": "recruitment classes correct uh to the speaker the 46 million", "start": 5135.28, "end": 5140.92}, {"text": "in funding we're providing uh to the police services really does two things yeah it not only allows them to bring", "start": 5140.92, "end": 5146.679}, {"text": "forward four recruitment classes this year to increase their compliment as part of the multi-year hiring strategy", "start": 5146.679, "end": 5151.88}, {"text": "it also allows them to fund the annualization of the positions that were added last year as they don't all start", "start": 5151.88, "end": 5158.159}, {"text": "on on January 1st so it enables us to fully fund those positions that would have come through the classes in the", "start": 5158.159, "end": 5163.6}, {"text": "prior year so how many uh What's the total capacity per", "start": 5163.6, "end": 5168.96}, {"text": "class uh so the police can probably answer it better than I can off memory I believe we have about 90 slots", "start": 5168.96, "end": 5175.76}, {"text": "available uh within each of our uh the four classes in the year no that's good I'm again I'm trying to reconcile the", "start": 5175.76, "end": 5182.08}, {"text": "numbers that's 90 * 4 is 3 360 correct here it says 307 police", "start": 5182.08, "end": 5189.8}, {"text": "added so we're going to do better than that so it's an interesting piece when you're looking at the compliment for", "start": 5189.8, "end": 5195.6}, {"text": "police it's a it's a little tricky so what we look at is the authorized uniform strength on on our streets the", "start": 5195.6, "end": 5203.96}, {"text": "classes themselves there's a there's a lag essentially from when an officer or Cadet in training enters into the", "start": 5203.96, "end": 5210.92}, {"text": "classes goes through the process which I believe is three or fourth months does additional training when they're on the", "start": 5210.92, "end": 5216.8}, {"text": "force itself before they're considered as part of the authorized uniform strength which is why you tend to see a", "start": 5216.8, "end": 5222.76}, {"text": "lag in the impact on their Staffing usually into the following year so you will see this year 90 officers in four", "start": 5222.76, "end": 5231.4}, {"text": "classes throughout the year okay and I know we're going to get into the nitty-gritty and Department by", "start": 5231.4, "end": 5236.8}, {"text": "Department agency by agency over the next few days uh so if I could ask when", "start": 5236.8, "end": 5243}, {"text": "you uh indicate here on slide 19 again investments in youth violence prevention", "start": 5243, "end": 5248.44}, {"text": "programs is that outlined somewhere what that really means and what type of investment and what kind of programs", "start": 5248.44, "end": 5255.52}, {"text": "it's can you direct me to where I can find that information exactly uh can you speak to it in", "start": 5255.52, "end": 5262.239}, {"text": "general yeah to the speaker so there there is a focus and part of what we've heard from the public is not only", "start": 5262.239, "end": 5268.6}, {"text": "investing in emergency services but investing in root causes of violence and violence prevention so what we've done", "start": 5268.6, "end": 5274.239}, {"text": "through this year's budget is we've made a fund available it has not yet been fully allocated there's going to be", "start": 5274.239, "end": 5279.639}, {"text": "reviews and processes that are going to happen throughout the year we'll we work with Community Partners we'll identify", "start": 5279.639, "end": 5285.239}, {"text": "opportunities to allocate those funds to the best use okay um running out a time", "start": 5285.239, "end": 5290.6}, {"text": "one last question quickly and I know that I may have to draw on this a little bit further when the TTC does their have", "start": 5290.6, "end": 5296.88}, {"text": "their day and I see the chair is here with us today too so I'll I'll likely be back for that fair evasion uh somewhere", "start": 5296.88, "end": 5303.84}, {"text": "here I read that uh due to some uh additional effort that we're going to make to help mitigate fear evasion uh", "start": 5303.84, "end": 5311.56}, {"text": "can you speak to that how much uh will we be saving do you think moving forward", "start": 5311.56, "end": 5317.08}, {"text": "on that given that we're at 140 million in Fair evation currently and that's a", "start": 5317.08, "end": 5322.56}, {"text": "pretty big serious number yeah and to the chair uh so definitely an area I would encourage you to to ask questions", "start": 5322.56, "end": 5328.96}, {"text": "of the TTC when they come in I can say when we met with them through the review process this was an are that we flagged", "start": 5328.96, "end": 5335}, {"text": "and we highlighted uh we were looking at Revenue realization measures and what could be done to be able to CT capture", "start": 5335, "end": 5341.719}, {"text": "Revenue to then reinvest back into the service so there are actions that the TTC is bringing forward to be able to", "start": 5341.719, "end": 5348.44}, {"text": "mitigate the impact of fair evasion uh they can speak to the exact number I might have just received the text I", "start": 5348.44, "end": 5353.76}, {"text": "think it was 12 million uh yes it was $12 million was the amount that was captured but you don't know what the", "start": 5353.76, "end": 5359.76}, {"text": "action is off hand uh so there's various actions they could probably speak to it better than I could candy that really", "start": 5359.76, "end": 5365.44}, {"text": "gets down into a level of detail where we don't have the team here to yeah yeah", "start": 5365.44, "end": 5370.679}, {"text": "and and as you've pointed out that because it was such a topic the uh the chair can probably uh give you fair", "start": 5370.679, "end": 5377.44}, {"text": "amount of information right off the bat okay thank you um I see that uh", "start": 5377.44, "end": 5385.28}, {"text": "counselor holiday you could you could help spend some time counc turnos slin wants to listen to all of our questions", "start": 5385.28, "end": 5390.679}, {"text": "first did you want to ask questions I do thank you Madam chair I have been", "start": 5390.679, "end": 5395.84}, {"text": "listening intently on YouTube and uh taking the opportunity to jump online here um to Mr coni I wondered if you", "start": 5395.84, "end": 5402.6}, {"text": "could just elaborate on uh how you've come up with the concept of capital from", "start": 5402.6, "end": 5408}, {"text": "current and how you've set the number uh because I do note I think it's 6% of the capital", "start": 5408, "end": 5415}, {"text": "plan uh to the speaker so capital from current continues to be a funding source that we leverage and rely on to support", "start": 5416.84, "end": 5423.32}, {"text": "our capital plan uh I believe the number and I'm just trying to find the slide is around 300 million or so is the amount", "start": 5423.32, "end": 5429.84}, {"text": "that supports our Capital program the number is generally unchanged from from", "start": 5429.84, "end": 5435.28}, {"text": "past years um for those of you that have been at the city for a while there was a program that was in place probably 10 or", "start": 5435.28, "end": 5441.639}, {"text": "15 years ago where we were continuing to increase it by 10% a year to get to an ultimate goal it was done to be able to", "start": 5441.639, "end": 5447.4}, {"text": "support our Capital Investments while mitigating the Reliance on debt issuance uh We've now reached that and the go for", "start": 5447.4, "end": 5454.199}, {"text": "approach is essentially increasing it more in line with a couple of percent a year and that continues to be a source", "start": 5454.199, "end": 5460.28}, {"text": "we use to fund our Capital infrastructure could you just expand a little bit on it is it literally cash", "start": 5460.28, "end": 5467.639}, {"text": "flow over from the property tax yeah uh thank you it is it is quite literally", "start": 5467.639, "end": 5473.52}, {"text": "where we support Capital initiatives directly from uh operating funding so", "start": 5473.52, "end": 5478.96}, {"text": "essentially property tax based funding goes directly to support capital initi Ives on a pay you go approach rather", "start": 5478.96, "end": 5486}, {"text": "than issuing debt so do we have an obligation to spend that much money or or how do you", "start": 5486, "end": 5492.76}, {"text": "come up with that number and how do you come up with a number that's proportionate to the other funding", "start": 5492.76, "end": 5497.8}, {"text": "sources uh that contribute to our Capital plan uh so the number we're at today was", "start": 5497.8, "end": 5503.6}, {"text": "really part of that multi-year strategy that had been embarked on probably 10 or 15 years ago we've now hit that", "start": 5503.6, "end": 5510.44}, {"text": "threshold um we aren't increasing it um you know there are obviously affordability challenges uh with being", "start": 5510.44, "end": 5517.88}, {"text": "able to continue to go higher and do more on that I will say it is leveraged um we look at it and use it specifically", "start": 5517.88, "end": 5526.04}, {"text": "uh on investments within our Capital program where you may have less of a useful life where it's not as", "start": 5526.04, "end": 5531.84}, {"text": "advantageous for us to issue 10 20 or 30y year debt so that's where the determination is made in terms of its", "start": 5531.84, "end": 5537.36}, {"text": "allocation but in terms of the total amount uh it's really the results of that longer term strategy that had been", "start": 5537.36, "end": 5543.44}, {"text": "implemented did uh a few years back thank you and Madam chair my timer is not running uh but I'll just ask one", "start": 5543.44, "end": 5550.4}, {"text": "other question uh that is of interest and it's conceptual you have time counselor I'm sorry the clock's uh", "start": 5550.4, "end": 5557.44}, {"text": "working for me but but we're not able to broadcast it out but you're only two and a half minutes you got you got time for", "start": 5557.44, "end": 5563.08}, {"text": "a couple more okay well again to Mr coni and forgive me because I don't have the", "start": 5563.08, "end": 5568.92}, {"text": "paper in front of me but there was a a discussion on the capital side that", "start": 5568.92, "end": 5574.679}, {"text": "related to foregone revenue and if I remember correctly it was in and around", "start": 5574.679, "end": 5580.44}, {"text": "$4 billion over 10 years and I wondered uh two things could you tell me a little", "start": 5580.44, "end": 5585.96}, {"text": "bit more about how that foregone Revenue impacts the capital plan over those 10", "start": 5585.96, "end": 5593.36}, {"text": "years is it loaded towards the front towards the rear or is it linear and secondly what is the impact", "start": 5593.36, "end": 5600.32}, {"text": "of that foregone Revenue otherwise on the plan so so not only has it been", "start": 5600.32, "end": 5606.56}, {"text": "recognized as a contribution towards the program but it also I think puts pressure on other elements of the", "start": 5606.56, "end": 5613.119}, {"text": "capital plan in other words we can't do things because of the foregone revenue or we have to make up the money in a", "start": 5613.119, "end": 5618.679}, {"text": "different way to fund those elements could you tell me a little bit more about how to read and understand the", "start": 5618.679, "end": 5624.119}, {"text": "foregone Revenue in the context of a capital plan sure and uh to the speaker so the", "start": 5624.119, "end": 5631.159}, {"text": "the amount of foregone Revenue that's identified is $4.5 billion that's essentially um two major components uh", "start": 5631.159, "end": 5639.239}, {"text": "and it's all attributed towards housing Supply and affordable housing so we have an affordable housing program where we", "start": 5639.239, "end": 5645.08}, {"text": "wave certain fees provided we meet affordable housing criteria that could be fees associated with development", "start": 5645.08, "end": 5652.239}, {"text": "applications uh other applications that come into the city that support that so those would be impacted on the operating", "start": 5652.239, "end": 5658.92}, {"text": "budget not the actual capital budget and as we built our operating budgets we've generally built them where there is a", "start": 5658.92, "end": 5664.639}, {"text": "level of tax subsidy built into the city planning budget or other supporting budgets to be able to achieve those", "start": 5664.639, "end": 5670.719}, {"text": "outcomes the other area that we see foregone revenue is generally within development charge relief so provided uh", "start": 5670.719, "end": 5678.36}, {"text": "affordability measures are being met um we would either completely wave development charges or as part of our", "start": 5678.36, "end": 5684.56}, {"text": "recent housing incentives report um we would wave a portion of our our development charges to be able to help", "start": 5684.56, "end": 5691.32}, {"text": "incentivize further development and address some of the housing challenges that we've seen today with regards to the DC loss it's something that we model", "start": 5691.32, "end": 5698.8}, {"text": "it's actually something that we even tend to build into our background study in a way where we're reviewing the", "start": 5698.8, "end": 5705}, {"text": "impact of that loss such that it doesn't have an immediate or direct impact on the existing Capital program um and that", "start": 5705, "end": 5713}, {"text": "was what we' come forward with the housing incentives report what was being offered up and I believe it was around 210 million and further incentives uh we", "start": 5713, "end": 5720.52}, {"text": "were able to make that change that was essentially the amount we can make without it having a negative impact on", "start": 5720.52, "end": 5726.6}, {"text": "our our Capital program thank you", "start": 5726.6, "end": 5731.76}, {"text": "chair okay thank you um uh well I think we're we're GNA let councelor chos Lin", "start": 5732.48, "end": 5739.28}, {"text": "listen to all the questions because she she's the only person in this grouping for whom it's not a first time so she's", "start": 5739.28, "end": 5745.04}, {"text": "just going to see if uh uh some of the questions get uh addressed and then ask", "start": 5745.04, "end": 5750.32}, {"text": "what what remains for her counselor mckel did you have have questions I do", "start": 5750.32, "end": 5755.8}, {"text": "um Chief thank you uh so my first questions are around motions that we brought forward last year asking you to", "start": 5755.8, "end": 5762.8}, {"text": "find further efficiencies specifically around uh rolling program reviews", "start": 5762.8, "end": 5768.04}, {"text": "engagement with management and employees so can you tell us what was done and what you", "start": 5768.04, "end": 5773.719}, {"text": "found sure to the speaker um so there's there's a few actions that we'll taken", "start": 5773.719, "end": 5779.159}, {"text": "so I'll try to get into each of them uh the first we on the rolling program review so we initiate work on the rolling program review Following last", "start": 5779.159, "end": 5786.08}, {"text": "year's budget uh we started our initial review really within the city um with", "start": 5786.08, "end": 5791.199}, {"text": "transportation and pfnr and our teams were working with them to identify what are opportunities what are actions that", "start": 5791.199, "end": 5798.119}, {"text": "could then be part of the submission for consideration through the process we also internally had a lens and I spoke", "start": 5798.119, "end": 5804.8}, {"text": "to it earlier uh I believe with councelor croan around Revenue realization within the TTC and some", "start": 5804.8, "end": 5811.04}, {"text": "actions that we could take when we were meeting with the TTC on driving some of the revenue realization again those were factored in", "start": 5811.04, "end": 5817.52}, {"text": "our program reviews and ultimately changes that would have been included in our submission the other piece that I'll", "start": 5817.52, "end": 5822.8}, {"text": "know and it's not operating but it's capital and I spoke to it there was also a very strong focus on prudent financial", "start": 5822.8, "end": 5829.199}, {"text": "management in the capital budget so through the work that we were doing uh supported by our Capital Asset", "start": 5829.199, "end": 5834.76}, {"text": "Management plan and our Capital prioritization framework we were we were quite actually able to avoid hundreds of", "start": 5834.76, "end": 5841.88}, {"text": "millions in capital expenditure in initiatives that were really growth", "start": 5841.88, "end": 5847}, {"text": "focused or service improvement focused and instead it enabled us to see the increase that you're seeing in the state", "start": 5847, "end": 5852.679}, {"text": "of good repair backlog or the addressing the state of good repair backlog so those were some of the actions that we took on the on the um the rolling", "start": 5852.679, "end": 5859.52}, {"text": "program review side beyond that the directions that we provided really in two forms one was the budget submission", "start": 5859.52, "end": 5866.56}, {"text": "directions had a real focus on on on covering and finding both reductions and", "start": 5866.56, "end": 5871.679}, {"text": "efficiencies and bothal our our executive director of financial planning and myself did a bit of a traveling Road", "start": 5871.679, "end": 5877.719}, {"text": "Show amongst our our areas in the city uh bringing that message forward the other thing that we did and we issued", "start": 5877.719, "end": 5884.119}, {"text": "this in September was there was a discretionary memo that was sent out from the two of us a discretionary", "start": 5884.119, "end": 5889.639}, {"text": "spending memo where we asked beginning in September to hold off on discretionary spending but then to also", "start": 5889.639, "end": 5896.4}, {"text": "factor that into the budget submission that was in areas of uniforms and cleaning areas of materials office", "start": 5896.4, "end": 5902.92}, {"text": "supplies furniture and fixtures and business travel and within the memo itself we actually highlighted what we", "start": 5902.92, "end": 5909.52}, {"text": "would call the commitment items where where you would find those expenses in sap to try to drive those savings", "start": 5909.52, "end": 5915.76}, {"text": "forward all of these actions were ultimately what factored into the 680 million in in reductions and offsets", "start": 5915.76, "end": 5923.32}, {"text": "that were brought forward in the budget so that includes 41 million in efficiencies 93 million in line by line", "start": 5923.32, "end": 5928.92}, {"text": "reviews and even some of the program challenge functions that we've provided uh in terms in terms of employee", "start": 5928.92, "end": 5934.4}, {"text": "feedback um a little more informal on the employee feedback but it was part of the directions that we gave I can speak", "start": 5934.4, "end": 5940.48}, {"text": "to my own example in finance and treasury Services where based on the feedback that we received from our", "start": 5940.48, "end": 5946.199}, {"text": "groups um I got an idea from our procurement team around uh embedding early payment discounts into our", "start": 5946.199, "end": 5953.199}, {"text": "procurement Awards it's not something we can Implement overnight before you can achieve an early payment discount you actually have to pay on time so we're", "start": 5953.199, "end": 5959.88}, {"text": "working with our accounts payable team setting up that process longer term to be able to achieve that uh but it's also", "start": 5959.88, "end": 5965.719}, {"text": "recognized if you look at corporate services and I'm going to look to David Jollymore just to my right uh really you", "start": 5965.719, "end": 5971.04}, {"text": "saw a focus on efficiencies in their group within technology services within", "start": 5971.04, "end": 5976.08}, {"text": "Fleet Services that are really driving home some of the savings that we've identified it was all part of those uh", "start": 5976.08, "end": 5981.84}, {"text": "discussions and directions that we would have given based on on what we had heard last year um thank you so does that get at", "start": 5981.84, "end": 5990.48}, {"text": "kind of this end of year if you don't use it you can't get it next year Mount is it addressing that that's the aim you", "start": 5990.48, "end": 5997.48}, {"text": "know it's not something that's solved overnight I think this is something that all organizations deal with but it is the aim and and you know we do have", "start": 5997.48, "end": 6004.28}, {"text": "strategies and tools that looks at expenditures on a calendarized basis enabling us to actually pinpoint some of", "start": 6004.28, "end": 6010.239}, {"text": "those discretionary spending that you see in the later months which was why that memo was issued in September", "start": 6010.239, "end": 6016.08}, {"text": "purposely to try to avoid that um one of the things that we also asked for was", "start": 6016.08, "end": 6021.239}, {"text": "working on culture to celebrate projects coming in on time on budget under budget", "start": 6021.239, "end": 6027.199}, {"text": "you started to get at that but how are you kind of formalizing that yeah to the speaker I'd say probably for the most", "start": 6027.199, "end": 6033.52}, {"text": "part you see a lot of that on Capital this year so outside of us giving direction on the operating side I do", "start": 6033.52, "end": 6039.36}, {"text": "think Capital we've made a really strong effort um not just to drive change in", "start": 6039.36, "end": 6044.48}, {"text": "terms of where we make tough decisions uh but at least internally to celebrate the successes that we've seen and it's", "start": 6044.48, "end": 6050.239}, {"text": "something you see even in today's budget presession uh presentation where we're highlighting the impact on sgr and it's", "start": 6050.239, "end": 6056.52}, {"text": "something we continue to take back at our leadership tables when we meet with our divisions and try and I'm going to", "start": 6056.52, "end": 6061.8}, {"text": "squeak one super super fast um the uh where did you come in um in terms of", "start": 6061.8, "end": 6067.599}, {"text": "budget last year were you on budget overall operating under budget and um where will there be a budget briefing", "start": 6067.599, "end": 6073.8}, {"text": "note on reserves um to the speaker I we can get the exact number I think our projected", "start": 6073.8, "end": 6080.48}, {"text": "variance on the operating budget I'm going to look at Alia think it was around 115 110 to 120 million uh was our", "start": 6080.48, "end": 6086.76}, {"text": "projected it was really driven by TTC some of the savings early savings that we saw in um in our shelters group uh", "start": 6086.76, "end": 6094.32}, {"text": "and some of our investment returns all of that has been factored into what you see in this in this budget in terms of a", "start": 6094.32, "end": 6099.92}, {"text": "briefing note on reserves that is a briefing note that we prepare every year uh it's either available today or it's", "start": 6099.92, "end": 6105.96}, {"text": "going to be finalized in the next day or two and will be available so any rollover from last year goes up against", "start": 6105.96, "end": 6111.36}, {"text": "helping keep this year's property tax rate yeah so what you see as part of our budget bridging strategy is just that we", "start": 6111.36, "end": 6117.76}, {"text": "look at the funds and we've created newly last year the budget bridging and balancing Reserve which is that specific", "start": 6117.76, "end": 6122.84}, {"text": "purpose we'll take any under spending that we achieve allocated into that reserve and then look at a a a phased", "start": 6122.84, "end": 6129.4}, {"text": "approach to be able to draw that back which is consistent with us getting our opening pressures down to that 7 to 800", "start": 6129.4, "end": 6135.119}, {"text": "million range in in the next few years okay councelor Moy you ready to go", "start": 6135.119, "end": 6143.28}, {"text": "thank you goad um through you madam chair um on page 12 you mentioned budget", "start": 6145.32, "end": 6154.28}, {"text": "challenges I know you've gone into some details about some of these uh challenges Point by point but the one", "start": 6154.28, "end": 6160.44}, {"text": "thing I don't see here is the challenges around um those who are under", "start": 6160.44, "end": 6165.719}, {"text": "theous uh we have a lot of pressures of people who are under housing or parks", "start": 6165.719, "end": 6172.84}, {"text": "and in our city I saw Amo put out a report last week around 880,000 people", "start": 6172.84, "end": 6177.96}, {"text": "in this in the province around the house and it's going rise to 300,000 people in", "start": 6177.96, "end": 6183.32}, {"text": "a very short period of time what steps are we taking in this budget so that we don't have the same issue year after", "start": 6183.32, "end": 6189.48}, {"text": "year in trying to find housing for people uh to the speaker um and that was", "start": 6189.48, "end": 6196.48}, {"text": "the intent so when we looked at the budget challenges there's really two G categories that I I would consider that would fall in one was growing demand for", "start": 6196.48, "end": 6203.599}, {"text": "City Services but more importantly on the far right shelter and uh social support pressures so on the operating", "start": 6203.599, "end": 6210.44}, {"text": "side that continues to be a challenge that continues to be a priority area in terms of where we make investments I'd", "start": 6210.44, "end": 6216.239}, {"text": "also say on the capital side um it's an area where you see probably the most", "start": 6216.239, "end": 6221.599}, {"text": "significant growth over time in terms of where we've added funds you see it both", "start": 6221.599, "end": 6226.679}, {"text": "in our investments within affordable housing housing Supply initiatives but even the added Investments that we're", "start": 6226.679, "end": 6232.36}, {"text": "making within t CHC around building repairs the added Investments we're making within our shelter infrastructure", "start": 6232.36, "end": 6237.52}, {"text": "plan um so it continues to be a focus in both of our budgets I'll add uh chair", "start": 6237.52, "end": 6243.56}, {"text": "that we're also working with the federal government to achieve the additional Investments that they announced in their budget uh last April around encampment", "start": 6243.56, "end": 6251.48}, {"text": "funding support so we'll be investing those resources to enhance our ability to work in encampments and this budget", "start": 6251.48, "end": 6257.48}, {"text": "does also maintain the massive increase we've had in the number of beds in our shelter system so uh what you see is a", "start": 6257.48, "end": 6264.639}, {"text": "cumulative approach on our budget of ensuring that those bed counts don't go down uh and as we are seeing more of an", "start": 6264.639, "end": 6271.92}, {"text": "exit through the uh application of the Canada Ontario housing benefit particularly of refugee and Asylum", "start": 6271.92, "end": 6277.639}, {"text": "Seekers from our shelter system those beds in our base system become available to help us deal more uh proactively with", "start": 6277.639, "end": 6283.8}, {"text": "encampments okay thank you and regards to the TTC and the new rail R cars", "start": 6283.8, "end": 6290.76}, {"text": "coming into for line two was that contract signed or is that just a promisor note by the", "start": 6290.76, "end": 6299.159}, {"text": "feds so chair the the federal government have committed those funds the permanent Transit fund I forget exactly what it's", "start": 6301.84, "end": 6309}, {"text": "called now but it was called the permanent Transit fund that is a a funding source that's been through their treasury board process so that is the", "start": 6309, "end": 6315.76}, {"text": "those allocations have gone not only to the city of Toronto but also to other municipalities uh so so those funds are", "start": 6315.76, "end": 6321.44}, {"text": "in place and that is how they're funding their commitment so the the partial amount of the permanent Transit fund", "start": 6321.44, "end": 6327.159}, {"text": "which will be there year-over-year is what is allowing the TTC to move forward with those purchases so um I'm not sure", "start": 6327.159, "end": 6334.28}, {"text": "what contracts per se have been signed but the funding source itself uh is a approved one i' I'd equate it to their", "start": 6334.28, "end": 6341.32}, {"text": "housing funding which we receive regularly again approved funds that are there thank you and also to online page", "start": 6341.32, "end": 6349.239}, {"text": "23 you touched around solid waste management services and there will be an", "start": 6349.239, "end": 6354.36}, {"text": "increase of 3.75% uh for water and waste management", "start": 6354.36, "end": 6360.32}, {"text": "um if my memory serves me correctly I know that there's some changes coming to the recycling program in the city of", "start": 6360.32, "end": 6367.36}, {"text": "Toronto uh where be a private company that'll be taking that over I think", "start": 6367.36, "end": 6373}, {"text": "that's direction from The Province um how does that square with", "start": 6373, "end": 6379.36}, {"text": "that initiative is this simply this is this for garbage or is this for recycling or", "start": 6379.36, "end": 6387}, {"text": "both just for my own clarification uh to the speaker so what", "start": 6387, "end": 6393.199}, {"text": "we have in front of us is is the overarching solid waste rate it's generally charged against your your", "start": 6393.199, "end": 6398.48}, {"text": "waste bin so either you're you're you're small medium large or extra not not recycling we've never charged against", "start": 6398.48, "end": 6405.159}, {"text": "recycling it's always been charged against the waist bin I will say in terms of the extended user", "start": 6405.159, "end": 6410.56}, {"text": "responsibility which I believe is what you're referring to that had been factored and modeled into multi-year", "start": 6410.56, "end": 6415.719}, {"text": "planning uh at least back to a couple years ago so the budgets that were presented both last year last year this", "start": 6415.719, "end": 6421.44}, {"text": "year and even going forward have already started to factor in the assumptions that come along with that obviously", "start": 6421.44, "end": 6426.76}, {"text": "getting modified or adjusted as required and uh I'm sure uh our general manager", "start": 6426.76, "end": 6432.119}, {"text": "Solid Waste can speak to it in better detail than I can okay yeah because it's a phased approach that's probably best", "start": 6432.119, "end": 6437.8}, {"text": "for the review day okay thank you my time that's it okay thank you", "start": 6437.8, "end": 6443.44}, {"text": "uh councelor changen are you ready thank you um through the chair uh", "start": 6443.44, "end": 6450.199}, {"text": "I'm just wondering what is the estimated inflation uh inflationary impact on the", "start": 6450.199, "end": 6456.599}, {"text": "proposed tax property tax increase so what percentage of that increase uh can", "start": 6456.599, "end": 6463.239}, {"text": "be accounted for by the inflationary pressure on the city's", "start": 6463.239, "end": 6469.8}, {"text": "budget uh to the speaker I'm not sure I've broken it specifically on various inflation factors we've tend to look at", "start": 6469.8, "end": 6476.239}, {"text": "it in terms of program drivers um I'd also note that our inflation factors vary it would depend on the expenditure", "start": 6476.239, "end": 6482.8}, {"text": "type I think generally we're seeing inflation anywhere from 2 and a half to 3% across a lot of our services um but", "start": 6482.8, "end": 6489.96}, {"text": "we're seeing higher rates if it's inflation associated with construction we also have different rates associated", "start": 6489.96, "end": 6495}, {"text": "with Collective agreements so we tend to look at the different drivers in terms of what is uh where and how the property", "start": 6495, "end": 6502.92}, {"text": "tax increases addressing those drivers that we see in the budget in 2024 there was reduced real estate", "start": 6502.92, "end": 6510.599}, {"text": "activity and I'm wondering what was the difference between our estimated land transfer tax and what we actually", "start": 6510.599, "end": 6520.84}, {"text": "received uh to the speaker there was um fortunately we had anticipated a", "start": 6521.48, "end": 6526.76}, {"text": "reduction we still have not met our our budget amounts I I I'll have to dig up", "start": 6526.76, "end": 6531.96}, {"text": "the actual variant amount off memory I think it's around 30 million or or so that we would be underachieving our", "start": 6531.96, "end": 6538.36}, {"text": "total revenue I will say there was an expectation that we were going to see reduced activity so a", "start": 6538.36, "end": 6545.159}, {"text": "couple years back we changed how we use land transfer tax revenue and it's something that continues to be included", "start": 6545.159, "end": 6550.92}, {"text": "in our budget today where only about 750 million of the expected land transfer", "start": 6550.92, "end": 6556.04}, {"text": "tax revenue was directed to operations what we did was every dollar above that was directed into a reserve that would", "start": 6556.04, "end": 6563.119}, {"text": "support future Capital work giving us the ability to mitigate the impact that might come about uh with volatility in", "start": 6563.119, "end": 6570.08}, {"text": "the market in the year where we actually achieved over a billion1 we were even able to set aside", "start": 6570.08, "end": 6576.199}, {"text": "a bit of those funds as part of a contingency to manage that volatility so closing out last year's budget even", "start": 6576.199, "end": 6582.76}, {"text": "though we were reduced below our already reduced budget estimate it doesn't have a material impact on our operations or", "start": 6582.76, "end": 6589.4}, {"text": "our ability to manage our Capital program so are we uh forecasting a", "start": 6589.4, "end": 6594.44}, {"text": "continued slowing down or is there what is the plan for this year's budget yeah", "start": 6594.44, "end": 6600.36}, {"text": "to the speaker so we are expecting there to be some growth in our land transfer tax revenue we we take that step", "start": 6600.36, "end": 6606.719}, {"text": "cautiously but we are seeing we've starting to see some some increased activity in in the leading drivers that", "start": 6606.719, "end": 6613.119}, {"text": "you would see associated with home sales um we're also seeing the decline in the", "start": 6613.119, "end": 6618.56}, {"text": "Bank of Canada rate that reduces interest rates with the expectation through our discussions with our partners and financial institutions that", "start": 6618.56, "end": 6625.119}, {"text": "will continue to see those come down which could drive further home sales uh", "start": 6625.119, "end": 6630.8}, {"text": "that being said it's also coupled with actually on top of it the introduction of a couple of new tools that came from", "start": 6630.8, "end": 6636.159}, {"text": "the long-term financial plan so the graduated rate for higher value homes as well as the non-resident speculation tax", "start": 6636.159, "end": 6642.84}, {"text": "so all of those combined we are expecting increased Revenue that said", "start": 6642.84, "end": 6648.04}, {"text": "with that increase we're being very careful in terms of not much of it is going to be direct Ed to support", "start": 6648.04, "end": 6653.56}, {"text": "operations a lot of it is going to be set aside into a capital reserve where we can measure what the actual", "start": 6653.56, "end": 6659.119}, {"text": "experience this year this year is and manage that if it's not fully achieved", "start": 6659.119, "end": 6664.28}, {"text": "thank you uh on page 21 there's a differentiation between residential and multi-residential can you just explain", "start": 6664.28, "end": 6671.679}, {"text": "what that difference is are people in condos charged differently or what's a multi-residential", "start": 6671.679, "end": 6679.36}, {"text": "uh to the speaker so a residential a condo would be part of a residential home single detach would be part of a", "start": 6679.36, "end": 6686.199}, {"text": "residential essentially if you are in a home or a property that has seven units or more you would move into the", "start": 6686.199, "end": 6692.96}, {"text": "multi-residential uh property class okay so is that", "start": 6692.96, "end": 6700.04}, {"text": "uh but rental only seven units or more rented seven units or more rental thank", "start": 6700.04, "end": 6705.76}, {"text": "you for the clarification those would essentially be our rental properties of seven units or more so last year we", "start": 6705.76, "end": 6711.159}, {"text": "talked about looking uh doing a review of some divisions using uh practices", "start": 6711.159, "end": 6717.079}, {"text": "like lean s Sigma to further uh efficiencies and Agility in our city I'm", "start": 6717.079, "end": 6723.76}, {"text": "wondering what is the status of that are there some star divisions that have gone through some processes and we've seen", "start": 6723.76, "end": 6729.599}, {"text": "some leanness come out of that uh to the to the chair yeah so", "start": 6729.599, "end": 6735.8}, {"text": "there were and and some of these were the examples that I explained uh when councelor Meli asked me a question", "start": 6735.8, "end": 6741.719}, {"text": "around some of the last year so there were a series of actions that we've taken in terms of reviewing", "start": 6741.719, "end": 6746.8}, {"text": "discretionary expenses line by line reviews but definitely a focus on trying to achieve efficiencies um what you'll", "start": 6746.8, "end": 6753.36}, {"text": "see this year at about 41 million in efficiencies it's it's considerably greater than what we've generally", "start": 6753.36, "end": 6758.719}, {"text": "achieved every year it's usually in the 20 to 30 million range uh that we've been able to achieve um I am going to", "start": 6758.719, "end": 6765}, {"text": "call out a couple of programs because I I think it's important to do so uh and really encourage more opportunities of", "start": 6765, "end": 6770.88}, {"text": "this going forward our our shelter Services were able to renegotiate Hotel contracts and Achieve very significant", "start": 6770.88, "end": 6776.76}, {"text": "savings within Corporate Services we were able to achieve um really a review of our software and system applications", "start": 6776.76, "end": 6783.719}, {"text": "and either completely decommissioning or renegotiating contracts uh Fleet Services identified a series of reviews", "start": 6783.719, "end": 6790.56}, {"text": "I mentioned a couple of them in the presentation retreading of tires underutilized Vehicles so there were a", "start": 6790.56, "end": 6796}, {"text": "few areas that really did focus in on some opportunities and we get to experience benefit from that and an", "start": 6796, "end": 6801.8}, {"text": "amount of saving that's almost equivalent to a 1% property tax increase great thank you okay thank you councelor", "start": 6801.8, "end": 6809.36}, {"text": "perks did you want to go yeah sure um in his questions councelor holiday was", "start": 6809.36, "end": 6815.719}, {"text": "focusing on the uh foregone Revenue having to do with housing incentives um while I took his point I", "start": 6815.719, "end": 6824.76}, {"text": "I'm wondering if in creating these incentives we're looking at the avoided costs of providing shelter to those", "start": 6824.76, "end": 6831.28}, {"text": "individuals and how those cost", "start": 6831.28, "end": 6834.76}, {"text": "compare um chair I mean we haven't done the accounting of that but very much so", "start": 6836.76, "end": 6843.04}, {"text": "in uh reflecting on the direction we were given which was to come back with", "start": 6843.04, "end": 6848.4}, {"text": "some things that could help spur that development that was our thinking I mean you're seeing the city of Toronto", "start": 6848.4, "end": 6854.04}, {"text": "through your direction and and an ultimate approval taking some steps that we've not taken before as a city so that", "start": 6854.04, "end": 6860.199}, {"text": "doesn't come lightly and some of it is we need to build this housing right now", "start": 6860.199, "end": 6865.92}, {"text": "it is a market in which the regular incentives of the city of Toronto don't work they did work for a long time we", "start": 6865.92, "end": 6871.719}, {"text": "needed to have more incentives to make that happen and part of it is that if we stall that then two things are going to", "start": 6871.719, "end": 6879}, {"text": "happen one is just affordability in general gets worse which we want to try and and stunt but the second piece for", "start": 6879, "end": 6884.52}, {"text": "those who need it most it is a shelter system a shelter system which is growing from just when I started with the city", "start": 6884.52, "end": 6890.56}, {"text": "of Toronto in 2021 from 6,000 shelter beds to now over 10,000 shelter beds that is a cost in your", "start": 6890.56, "end": 6897.48}, {"text": "budget that you can see year-over-year as an increase so while we haven't absolutely uh given a chart that shows", "start": 6897.48, "end": 6903.36}, {"text": "the difference of that it did factor into our decision- making then that was a prudent investment of foregone", "start": 6903.36, "end": 6908.52}, {"text": "revenues in order to achieve multiple goals not just the reduction of of a a", "start": 6908.52, "end": 6914.199}, {"text": "charge per se to build housing so so when you say prudent um the annual cost", "start": 6914.199, "end": 6920.52}, {"text": "of foregone Revenue to put put someone in a home is less than the annual cost of", "start": 6920.52, "end": 6927.92}, {"text": "Sheltering that individual am I remembering that right I think it was actually quite", "start": 6927.92, "end": 6933.199}, {"text": "substantial yeah chair I mean the reality is it is always cheaper to find housing for an individual than to to to", "start": 6933.199, "end": 6940.599}, {"text": "have them uh exist particularly for long periods of time in a shelter system we want that shelter system to be there for", "start": 6940.599, "end": 6946.76}, {"text": "short uh time frames when people need extra assistance uh when people are living quite literally in our shelter", "start": 6946.76, "end": 6952.84}, {"text": "system it is $60,000 plus I and I know Abby would have the exact number and", "start": 6952.84, "end": 6958}, {"text": "gourd would have the exact number but we're talking about um just a ridiculous sum of money being paid to do something", "start": 6958, "end": 6964.48}, {"text": "that we can do much more effectively with with housing better outcomes for people better outomes financially better", "start": 6964.48, "end": 6970.28}, {"text": "outomes financially so when I look at this foregone Revenue I should have in mind avoided", "start": 6970.28, "end": 6975.84}, {"text": "cost chair yes absolutely and I think the other piece is The Prudent of it is", "start": 6975.84, "end": 6981}, {"text": "we've put time frames around on this for review this is not a new way of moving it both the units are capped but also", "start": 6981, "end": 6987.76}, {"text": "we're going to review these as it changes if the financial situation changes we may adjust again what those", "start": 6987.76, "end": 6993.44}, {"text": "incentives look like thank you and the reason I had you go next is", "start": 6993.44, "end": 6998.679}, {"text": "so that I can ask you to chair I have H I'm just going to uh um step out uh for", "start": 6998.679, "end": 7005.36}, {"text": "a second but I have councel Morley and then councelor chos", "start": 7005.36, "end": 7010.48}, {"text": "okay councelor Morley or Deputy Mayor Morley thank you so much um through the chair thank you for the great", "start": 7010.48, "end": 7016.84}, {"text": "presentation and the incredible amount of work um curious about the status of", "start": 7016.84, "end": 7021.96}, {"text": "multi-year operating plan development uh we heard about some of the successes that we're now seeing because multi-year", "start": 7021.96, "end": 7028.239}, {"text": "strategies work um so can you talk to us a little bit more about the multi-year operating plan", "start": 7028.239, "end": 7034.119}, {"text": "development uh to the vice chair um yeah absolutely so um as we mentioned in the", "start": 7034.119, "end": 7040.8}, {"text": "presentation it it really began an Earnest last year as we were facing a $ 1.8 billion pressure and and and not a", "start": 7040.8, "end": 7046.92}, {"text": "pressure you could address in a single year without drastic changes in critical city services or or very high property", "start": 7046.92, "end": 7054.76}, {"text": "tax rate increases so the idea was to build a multier journey a multi-year journey that was really supported by", "start": 7054.76, "end": 7060.92}, {"text": "Council Direction on the long-term financial plan so what you've seen in the longterm financial plan and we will", "start": 7060.92, "end": 7066.48}, {"text": "have a briefing note that will be available on this we'll talk about all of the actions that we've already", "start": 7066.48, "end": 7071.679}, {"text": "implemented and the work that is underway to continue to bring forward actions that were approved by Council", "start": 7071.679, "end": 7077.92}, {"text": "the intent is those actions coupled with continuing to drive for reductions offsets efficiencies can slowly offset", "start": 7077.92, "end": 7085.84}, {"text": "those temporary bridging strategies or or Reserve draws that are being done in a planned phased approach um and when", "start": 7085.84, "end": 7093.56}, {"text": "amounts that are we're able to slowly reverse out through the actions that would come online so so again this was", "start": 7093.56, "end": 7100.639}, {"text": "essentially the strategy it did require us to have an enhanced View and longer term view on other initiatives we're", "start": 7100.639, "end": 7105.96}, {"text": "taking growth pressures we're taking um but we are going down the path and you see it this year with the opening", "start": 7105.96, "end": 7111.199}, {"text": "pressure of 1.2 billion you see it next year with a pressure of of uh over1 billion dollar and and most importantly", "start": 7111.199, "end": 7118.079}, {"text": "if we can continue down this path getting by 2027 to an opening pressure that's going to be in around that 700 to", "start": 7118.079, "end": 7123.92}, {"text": "800 million range which would help me sleep a lot better than so um what's also important you know it's easy enough", "start": 7123.92, "end": 7130.04}, {"text": "for me to talk about this strategy but really you know what what gave me a lot of of satisfaction was uh when we met", "start": 7130.04, "end": 7137.119}, {"text": "with our credit rating agencies it was actually something that was highlighted and it was actually given as one of the", "start": 7137.119, "end": 7143.48}, {"text": "rationals in terms of the credit rating increase that we saw this year the the first time we saw credit rating increase", "start": 7143.48, "end": 7149.36}, {"text": "in decades um and and they did specifically note both the city's prudent financial management but", "start": 7149.36, "end": 7155.239}, {"text": "bringing forward this multi-year plan that is working thank you last thing I'll add in terms of the value of this", "start": 7155.239, "end": 7160.8}, {"text": "work is that from an inter governmental perspective our conversations become much uh easier and stronger when we can", "start": 7160.8, "end": 7167.52}, {"text": "show The View if you only take a one year budget and you're saying here's what we need based on last year only the", "start": 7167.52, "end": 7174.639}, {"text": "question that could come back to us is well what is the projected plan is this exactly what you need forever uh because", "start": 7174.639, "end": 7180.88}, {"text": "as we exited the the pandemic of course our needs were a little bit greater so I think the the rigor that we're taking", "start": 7180.88, "end": 7186.92}, {"text": "with these multi-year plans allows us to have a stronger conversation uh with the provincial and federal government about", "start": 7186.92, "end": 7192.44}, {"text": "how they can assist us to deal with the systemic problems that we're going to face uh in years to come thank you and", "start": 7192.44, "end": 7199.44}, {"text": "helpful segue because my next question is with specifically with respect to those intergovernmental conversations", "start": 7199.44, "end": 7205.8}, {"text": "and the New Deal 2.0 uh I think tonon and certainly this Council were quite thrilled to see the impact uh and some", "start": 7205.8, "end": 7213.36}, {"text": "of the outcomes of previous discussions uh we've heard about the alleviation of the pressure um from The Gardener upload", "start": 7213.36, "end": 7220.88}, {"text": "and so I wonder if you could talk to us a bit more about what our priorities are for that 2.0 conversation and what we", "start": 7220.88, "end": 7227.96}, {"text": "anticipate and I know it's hard to to say but um what potential impacts we", "start": 7227.96, "end": 7233.079}, {"text": "might see on the 25 budget based on the New Deal 2.0", "start": 7233.079, "end": 7238.239}, {"text": "conversations uh so Vice chair um you know let's start from where we need to start with um I very rarely get scared", "start": 7238.239, "end": 7245.76}, {"text": "by things but last year there was a fear of what we would have to do to Services if there wasn't that partnership so we", "start": 7245.76, "end": 7251.4}, {"text": "can't stress enough the work of of the mayor and the premier this Council uh the staff that that helped do the de the", "start": 7251.4, "end": 7258.4}, {"text": "details in terms of how this is helped us um ensure that we can maintain Services moving forward the", "start": 7258.4, "end": 7265.36}, {"text": "conversations will be in some ways very similar our core systemic issues don't change the New Deal gave us three years", "start": 7265.36, "end": 7272.56}, {"text": "of Runway there won't be a lot new in the in 2025 or into 2026 uh we have", "start": 7272.56, "end": 7278.32}, {"text": "shelter funding that will be sustained over those three years for instance since our investments in the um in", "start": 7278.32, "end": 7284.36}, {"text": "transit uh will will be there now as uh Finch and eggington cross town come", "start": 7284.36, "end": 7289.56}, {"text": "online we'll we'll do that reconciliation of what those investments will look like but that's very static", "start": 7289.56, "end": 7295.48}, {"text": "our focus is beyond 2026 when those Investments expire in terms of the operating budget they need to be", "start": 7295.48, "end": 7301.719}, {"text": "sustained in some way and those areas are going to remain as you've seen for years and will continue to see we have a", "start": 7301.719, "end": 7309}, {"text": "Transit pressure that is unique to Toronto we have a housing and homelessness pressure that is unique to Toronto we have some pressures within", "start": 7309, "end": 7315.96}, {"text": "our emergency services that are unique to Toronto and we'll be adding that I think to to some of our discussions as", "start": 7315.96, "end": 7322.239}, {"text": "as well and then of course we'll look at ways that we can work together better with the provincial government to make", "start": 7322.239, "end": 7327.639}, {"text": "some things um uh you know the provincial and federal government in terms of land in terms of ways that we", "start": 7327.639, "end": 7333.199}, {"text": "might work together differently in accessing even financing those are the ways that we can partner to to achieve", "start": 7333.199, "end": 7340.199}, {"text": "better outomes together but in terms of the core fundamentals of what will need to be in place by our budget for 2027", "start": 7340.199, "end": 7346.719}, {"text": "they remain largely unchanged if I can speak one more quick one thank you um", "start": 7346.719, "end": 7352.159}, {"text": "just with respect to our agency partners and divisions we talked about we know they are the um you know they are the", "start": 7352.159, "end": 7358.84}, {"text": "engine that makes this whole thing work um in getting to alignment in the staff budget uh I know in previous years in my", "start": 7358.84, "end": 7365.679}, {"text": "experience we weren't always quite there when we got to this point and I just wanted to uh give you an opportunity to provide any context or color in terms of", "start": 7365.679, "end": 7372.719}, {"text": "the work that's been done over this past year the priorities and Alignment uh with our agency partners and divisions", "start": 7372.719, "end": 7378.52}, {"text": "or do we expect any fights ahead of us that's my last question uh to to the", "start": 7378.52, "end": 7383.56}, {"text": "chair uh great question and and uh we haven't always been in alignment there's been differences between the budget", "start": 7383.56, "end": 7389.92}, {"text": "that's proposed and those that have been approved by the board in the past I will say that is not the case this year we've", "start": 7389.92, "end": 7395.599}, {"text": "actually had a very positive working relationship with with our our board our", "start": 7395.599, "end": 7400.92}, {"text": "our counterparts in our agencies um especially if you look at the larger agencies you're going to see a TTC", "start": 7400.92, "end": 7407.52}, {"text": "budget that is very much aligned with what we have today a police budget that's aligned a library budget where we're making Investments even our", "start": 7407.52, "end": 7414}, {"text": "Toronto Community Housing budget where there is an alignment between what we're bringing forward today so really", "start": 7414, "end": 7419.119}, {"text": "universally across our agencies uh very productive relationships that have", "start": 7419.119, "end": 7424.48}, {"text": "happened this year to be able to bring forward this year's budget with a consistent alignment great work thank you those are my questions okay", "start": 7424.48, "end": 7432.28}, {"text": "uh councelor chos Lyn uh that that brings us to the end of the member questions did you have any questions", "start": 7432.28, "end": 7440.159}, {"text": "still I do um go ahead so thank you uh", "start": 7440.159, "end": 7445.8}, {"text": "thank you Chief so through the chair uh my first question is", "start": 7445.8, "end": 7454.04}, {"text": "um with respect to the TTC I'm sorry I'm hearing a bit of an", "start": 7454.119, "end": 7459.559}, {"text": "echo are you hearing an echo no that happens on webc sometimes uh", "start": 7459.559, "end": 7464.8}, {"text": "just make sure all the microphones are off folks okay so uh at least you aren't", "start": 7464.8, "end": 7472.159}, {"text": "hearing it and actually now I don't hear it so thank you for whatever you did on your end um my question is with my first", "start": 7472.159, "end": 7479.239}, {"text": "question is with respect to TTC there you know one of the things that we", "start": 7479.239, "end": 7486.84}, {"text": "heard well I've heard so much from constituents and I know we've heard of about over the last year is significant", "start": 7486.84, "end": 7495.96}, {"text": "concern about the quality of the experience for TTC Riders and a reluctance of some to use", "start": 7495.96, "end": 7502.8}, {"text": "it based on issues around reliability but also around", "start": 7502.8, "end": 7508.239}, {"text": "um the social challenges that people are experiencing on the TTC and a lack of", "start": 7508.239, "end": 7513.679}, {"text": "feeling safe uh and so I wondered how does this budget address that and my", "start": 7513.679, "end": 7519.719}, {"text": "second part to that question is staff have chosen not to recommend a", "start": 7519.719, "end": 7526.48}, {"text": "fair increase and I wondered if staff could just explain their thinking around", "start": 7526.48, "end": 7532.04}, {"text": "that thank you uh to the chair um so I'll begin I I would suggest it it's", "start": 7532.04, "end": 7538.639}, {"text": "probably helpful to ask these questions as well when we have our program reviews with TTC staff who can probably speak to", "start": 7538.639, "end": 7544.119}, {"text": "them better than than I can um uh the first is it relates to a fair increase", "start": 7544.119, "end": 7549.559}, {"text": "um just cautioning in terms of uh staff City staff do not have the authority to propose a fair increase that's a", "start": 7549.559, "end": 7554.92}, {"text": "decision that's made actually through the commission itself um so that would be something that would come forward as", "start": 7554.92, "end": 7560.04}, {"text": "part of the commission discussions I will say and as we built this budget consistent with what we heard around", "start": 7560.04, "end": 7565.199}, {"text": "affordability Transit was one of the areas that we heard around the need around uh affordability which is um uh", "start": 7565.199, "end": 7573.159}, {"text": "likely part of the input that would have gone into the decision not to raise the fairs that you've seen this year", "start": 7573.159, "end": 7578.4}, {"text": "consistent with not raising them last year as well um and in terms of reliability there are added Investments", "start": 7578.4, "end": 7584.239}, {"text": "that we're making uh there's added investments in service hours but 500,000 additional service hours across various", "start": 7584.239, "end": 7590.32}, {"text": "modes to ensure that we've got the service that meets the demands that that we're seeing as we are starting to see", "start": 7590.32, "end": 7596.4}, {"text": "our ridership continue to grow uh back to the levels that that we would have seen prior to the pandemic uh in", "start": 7596.4, "end": 7603.119}, {"text": "addition to that we know that there's been challenges around bunching and gapping so there's some pilot", "start": 7603.119, "end": 7608.28}, {"text": "initiatives that are included in this year's budget to be able to support that and to bring initiatives forward um", "start": 7608.28, "end": 7614.32}, {"text": "you'll also note that last year there were some Investments that were made in collaboration with uh uh the province", "start": 7614.32, "end": 7620.559}, {"text": "around different initiatives around safety aspects within the transit system so that was something that was", "start": 7620.559, "end": 7625.8}, {"text": "introduced in last year's budget the other piece I'll note in terms of reliability uh this is the largest", "start": 7625.8, "end": 7631.599}, {"text": "investment that we've made in the ttc's capital budget uh not just ever but even the increase uh is probably only", "start": 7631.599, "end": 7639.119}, {"text": "equivalent to the increase from uh when there was some some changes with the pro provincial government around upload of", "start": 7639.119, "end": 7644.719}, {"text": "Transit expansion projects um at over $16 billion uh it really highlights", "start": 7644.719, "end": 7650.76}, {"text": "where we need to make investments and you're going to see this with the line two subway cars which were a real", "start": 7650.76, "end": 7655.8}, {"text": "challenge in terms of some of the reliability aspects it's not going to be something that gets addressed overnight but through our investments in state", "start": 7655.8, "end": 7662.199}, {"text": "repair through our investments in new technology and system and signal work um it will also have a direct benefit that", "start": 7662.199, "end": 7668}, {"text": "you see on the reliability of the system in years years to come yeah counselor when when TTC presents uh", "start": 7668, "end": 7676.36}, {"text": "later this week some of the social work approach uh uh um community services", "start": 7676.36, "end": 7682.8}, {"text": "that are on the the system and such they they can break down in much greater detail yeah okay great um on the slide", "start": 7682.8, "end": 7692.599}, {"text": "deck that we saw earlier the I think it was number four in um things that were", "start": 7692.599, "end": 7698.96}, {"text": "important to those who were uh surveyed and gave feedback was traffic um and so", "start": 7698.96, "end": 7706.559}, {"text": "obviously TTC is part of that if we have more people taking public transit or bikes we know there's less cars on the", "start": 7706.559, "end": 7712.28}, {"text": "road and I appreciate in this budget that you've added a large number of people to help it intersections as", "start": 7712.28, "end": 7718.199}, {"text": "traffic monitors I think they're called uh which is great but I also wondered where in the line by line item would I", "start": 7718.199, "end": 7725.8}, {"text": "find um the revenue that we generate from um fees that that uh developers pay", "start": 7725.8, "end": 7735.559}, {"text": "for closing down a lane of", "start": 7735.559, "end": 7738.92}, {"text": "traffic to the speaker I believe that would be the lane occupancy fee that uh", "start": 7741.28, "end": 7746.639}, {"text": "I I believe is collected within the transportation services", "start": 7746.639, "end": 7751.92}, {"text": "budget okay I don't I don't have the exact details we'd have to I'd have to Circle back with Transportation staff", "start": 7752.079, "end": 7757.639}, {"text": "yeah today is primarily for questions of the presentation the the details behind", "start": 7757.639, "end": 7763.76}, {"text": "really will happen Wednesday Thursday and Friday when the actual Deputy city manager and the general managers of each", "start": 7763.76, "end": 7771}, {"text": "of these come forward uh to present the detail within each division and that one", "start": 7771, "end": 7777.119}, {"text": "that one is really getting down there into the detail okay yeah okay and so", "start": 7777.119, "end": 7782.52}, {"text": "with respect to that then can I also ask where would I who would I ask about the court services one what does that come", "start": 7782.52, "end": 7789.32}, {"text": "under well court services will be presenting they'll be one of the the the uh departments that presents um in in", "start": 7789.32, "end": 7797.199}, {"text": "each of the days and this is in the budget committee agenda what you'll see is is the cluster that's presenting and", "start": 7797.199, "end": 7803.719}, {"text": "then each of those divisions will be here pardon me and available um to", "start": 7803.719, "end": 7810.76}, {"text": "answer questions we we we hear from the the the uh Deputy city manager of that", "start": 7810.76, "end": 7815.96}, {"text": "cluster and then we ask uh division by division are there questions here here here and here and go through them", "start": 7815.96, "end": 7822.44}, {"text": "they're long days but they're fun okay all right thank you very much", "start": 7822.44, "end": 7828.119}, {"text": "that's it for me then I oh okay um okay is that it that's it for", "start": 7828.119, "end": 7833.8}, {"text": "questions um if if I could ask the Indulgence of the committee counselor Chriss Andy has a a follow-up question I", "start": 7833.8, "end": 7840.679}, {"text": "I'm I'm hoping it won't generate an entire second round but just just one more question is that fair okay thanks", "start": 7840.679, "end": 7848.079}, {"text": "guys go ahead councelor chanti thank you I I did have a couple but I'll try and do it as quickly as I", "start": 7848.079, "end": 7854.4}, {"text": "could I just wanted to go back to your presentation when you spoke to the average property tax uh increase and", "start": 7854.4, "end": 7860.239}, {"text": "what that would look like and that was referenced uh based on the uh assessed", "start": 7860.239, "end": 7865.84}, {"text": "value what is the average property tax itself in the city of Toronto do you have a number for that actual average", "start": 7865.84, "end": 7872.96}, {"text": "property tax not assessed value at property tax that people pay uh so in", "start": 7872.96, "end": 7878.48}, {"text": "2024 the average property tax based on on an assessed value of $692,000 based on that based on that was", "start": 7878.48, "end": 7886.159}, {"text": "just under $3,900 with the increases in the levy for both the operating budget and the", "start": 7886.159, "end": 7893.079}, {"text": "city building fund that increases to uh $4,160", "start": 7893.079, "end": 7900.199}, {"text": "okay I likely want to discuss that offline with you because I'm getting different numbers okay the next question", "start": 7900.199, "end": 7905.84}, {"text": "is respect to slide nine um that speaks to two things food uh the the food", "start": 7905.84, "end": 7912.04}, {"text": "program uh and the rent Bank uh what are the costs associated for those two items", "start": 7912.04, "end": 7919.079}, {"text": "rent bank and food um to the speaker I I apologize I", "start": 7919.079, "end": 7926.48}, {"text": "don't have the backup on the the amount of dollars that were invested in those initiatives and again these were the initiatives invested in", "start": 7926.48, "end": 7932.4}, {"text": "2024 uh you have similar Investments that are in the budget in 2025 as well and they would be included uh within the", "start": 7932.4, "end": 7939.639}, {"text": "enhancement section uh within each of the program areas that are providing we we could again look at it again offline", "start": 7939.639, "end": 7945.96}, {"text": "a little more however would you agree though that you know um when it comes to", "start": 7945.96, "end": 7951.28}, {"text": "and it's so critical that our children are fed and they go to school uh you know that are already fed and there are", "start": 7951.28, "end": 7957.84}, {"text": "issues related to why the some of these things don't happen isn't this a provincial responsibility and are we", "start": 7957.84, "end": 7963.76}, {"text": "getting provincial uh support for supporting programs such as these", "start": 7963.76, "end": 7970.92}, {"text": "uh chair we do receive provincial support or these programs are are cost shared uh programs they're not 100%", "start": 7972.36, "end": 7978.84}, {"text": "owned by other orders of government uh I think the point you're making is one that we repeatedly make which is we have", "start": 7978.84, "end": 7985.679}, {"text": "we have a a tension every year uh we know what uh is impacting torontonians", "start": 7985.679, "end": 7991}, {"text": "and we want to provide those Services uh the reality is though that there aren't increasing um resources sometimes from", "start": 7991, "end": 7998.079}, {"text": "other orders of government now there are in certain areas but we're choosing to make additional uh Investments around um", "start": 7998.079, "end": 8005.559}, {"text": "rent Bank programs and school-based food programs but there are also provincial dollars and Andor federal dollars that", "start": 8005.559, "end": 8012.599}, {"text": "flow and we continue to ask for better support around those programs on our regular basis well that's good I agree", "start": 8012.599, "end": 8019.079}, {"text": "that we should um did you have another uh response there see for that uh to the", "start": 8019.079, "end": 8025.159}, {"text": "speaker so I have been able to identify some of the dollars in terms of expanding the student nutrition program", "start": 8025.159, "end": 8030.84}, {"text": "uh we have added $6 million is included in this year's budget um and I'm sure I", "start": 8030.84, "end": 8036.36}, {"text": "have the rent bank here but I'd have to pull that one out and find it on the list yeah those those will be in the detailed uh breakdown I would love to", "start": 8036.36, "end": 8043}, {"text": "get that $6 million back from the province that's where it should be coming from last question chair and and", "start": 8043, "end": 8048.719}, {"text": "thank you for the Indulgence and is with respect to the 100 traffic agents and uh", "start": 8048.719, "end": 8054.32}, {"text": "only because the numbers I'm sorry don't add up in my mind you get 100 divided by the well 3 million by 100 is about they", "start": 8054.32, "end": 8061.28}, {"text": "got to be earning more than $30,000 a year uh so that either tells me that it's not actually 100 uh or they are", "start": 8061.28, "end": 8069.199}, {"text": "earning 30,000 a year uh uh to the speaker it's neither so it's um what it", "start": 8069.199, "end": 8075.079}, {"text": "is is it's the phasing of when they would be hired and come on so like we will do with any new position um", "start": 8075.079, "end": 8080.92}, {"text": "especially a position approved through the budget you wouldn't expect that position to be hired and online in January 1st so what we do is we work", "start": 8080.92, "end": 8087.88}, {"text": "with the program areas around the pace and speed at which they can bring them all on and higher once there is a budget approval and then we budget based on the", "start": 8087.88, "end": 8095.239}, {"text": "cost for 2025 and the full year cost would get reflected in the following year so it's likely not 100 agents this", "start": 8095.239, "end": 8101.8}, {"text": "year it's a longer term plan to get 100 oh and and um I believe in total", "start": 8101.8, "end": 8110.719}, {"text": "it's an additional 25 positions I can look uh it's about 25 positions uh again", "start": 8110.719, "end": 8116.159}, {"text": "at this point last year we had about 25 active TR traffic agents there was an approval approved as part of last year's", "start": 8116.159, "end": 8122.4}, {"text": "budget you're now starting to see over the course of the year that those agents are coming online and in operations and", "start": 8122.4, "end": 8127.92}, {"text": "with this year's increase you see that uh it takes the full amount to 100 I believe it's about an additional 25", "start": 8127.92, "end": 8133.44}, {"text": "agents this year and taken to a total of 50 uh a total of 100 agents by the end", "start": 8133.44, "end": 8140.4}, {"text": "of the year by the end of the year got it all right thank you chair appreciate okay you're welcome okay um so", "start": 8140.4, "end": 8147}, {"text": "counselors uh that pardon me that uh that concludes the questions we want to", "start": 8147, "end": 8153}, {"text": "give uh the CFO some time to rest his voice because he's just going to go and give this presentation again for the", "start": 8153, "end": 8159.679}, {"text": "media take questions uh I'm in your hands Mr Green are we are we adjourning", "start": 8159.679, "end": 8165.079}, {"text": "or recessing we're recessing", "start": 8165.079, "end": 8172.4}, {"text": "yes it is okay we can properly adjourn so first of all you need a motion to", "start": 8172.8, "end": 8178.36}, {"text": "receive all this information we just received councelor changen you want to move that all in favor oppose that is", "start": 8178.36, "end": 8184.84}, {"text": "carried and uh with that we can adjourn and we will see you all back here on", "start": 8184.84, "end": 8192.239}, {"text": "Wednesday", "start": 8209.84, "end": 8212.84}, {"text": "e e", "start": 8239.84, "end": 8243.88}]