Title
TransAlta Tri-Leisure Centre (TLC) Budget Amendment
Proposed Motion(s)
1) That Council amend the 2013 Operating budget to reflect the following changes
a) the TransAlta Tri-Leisure Centre operating contribution to the TransAlta Tri-Leisure Centre in the amount of $330,939
b) the TransAlta Tri-Leisure Centre capital contribution to the TransAlta Tri-Leisure Centre in the amount of $88,741
2) That Council increase the 2013 TransAlta Tri-Leisure Centre requisition to $992,400 to include the Parkland County's portion of the air handling unit.
Body
Administration Recommendation
Administration is in support of the motions being presented to Council.
Purpose
To bring forward amendments to the TransAlta Tri-Leisure Centre budget for 2013
Summary
As per the TransAlta Tri-Leisure Centre municipal agreement, Parkland County is responsible for 25.04% of the 2013 operating deficit. The current budget approval is for $321,000 operating towards the TransAlta Tri-Leisure Centre operations. The original budget for the TransAlta Tri-Leisure Centre was forwarded to Administration with the understanding that the Board would be utilizing TransAlta Tri-Leisure Centre restricted reserve funds to fund the capital budget of $394,395. At that time the total operating requirement was $1,281,640. On November 22, 2012 the TransAlta Tri-Leisure Centre Board of Directors passed a motion to request that the municipal owners fund the 2013 capital expenditures. The motion passed by the TransAlta Tri-Leisure Centre Board of Directors would require Parkland County to fund an additional $88,741.
Based on the most recent budget submitted by the TransAlta Tri-Leisure Centre the proposed operating requirement is $1,321,640 and a capital requirement of $354,395.
The current budget also includes a capital contribution for the air handling unit yet to be replaced at the TLC. Administration is recommending that the cost for the air handling unit be included in the TLC requisition and not from general taxation.
The result of these changes is as follows:
1. $1,321,640 operating requirement. Parkland County is responsible for 25.04% or $330,939
2. $354,395 capital requirement. Parkland County is responsible for 25.04% or $88,741
3. $1,190, 000 capital requirement for the air handling unit be included in the TLC requisition. Parkland County is responsible for 30% or $357,000
Strategic Plan/Policy/Legal/Staff Implications
Financial Impact:
Cost: $776,680
Source of Funding: TLC Requisition
Other