Title
Road Program Revision
Proposed Motion
That Council approve the Road Program revisions as presented.
Body
Administration Recommendation
Administration supports the proposed motion.
Purpose
This report outlines recommended amendments to the 2016-2019 Capital Road Program.
Summary
On November 3, 2015, Administration presented the 2016-2019 Capital Road Program to Committee of the Whole. This report was presented to Council for their consideration as part of the 2016 Interim Budget, which was subsequently approved on December 8, 2015.
Following the submission of the 2016-2019 Capital Road Program report, Administration continued to review and refine the recommended program. Possible amendments were identified with the focus on efficiency, project approach and work capacity within the identified funding amounts. This effort resulted in some proposed amendments to the program as identified on the attachments. These updates represent the most current information available and combines additional inputs from several business areas and initiatives. Costs of the 2016 Road Program are reduced by $615,000 as a result of these amendments.
In addition to the amendments identified above, the 2016 Final Budget submission will include funding requests for two carry-forward projects. Existing funding for these initiatives is not sufficient to complete them. One request is for an additional $86,500 of MSI Capital for Township Road 522, from Range Road 14 to Range Road 15. The second request is for an additional $150,000 of Future Transportation Restricted Surplus for Lakeshore Road from Range Rd 50 to Range Rd 51. The combined amount is an increase of $236,500.
The impact to the budget combining program adjustments and funding increases is a net reduction of $378,500. Parkland County Council's approval of the 2016 Final Budget (Spring Budget Adjustments), scheduled for April 12, 2016, will confirm acceptance of the proposed amendments.
Financial Impact:
Cost: A reduction of $378,500
Source of Funding: MSI Capital, Future Transportation Restricted Surplus