C2024-0552

That with respect to Report C2024-0552, the following be adopted: That Council direct Administration to: Review the 2023 operating variances for recurring and non-recurring events and determine if 2025 base budgets can be reduced where recurring events causing efficiencies (or positive variances) continue into 2025; Commit to reductions to the 2025 base budgets correlated with services that have created efficiencies in the 2023 operating budget, or redeployment of the funds achieved through efficiencies; Prepare identified reductions and efficiencies for Councils consideration during the 2024 November Mid-Cycle Adjustments to the 2023-2026 Service Plans and Budgets; and Commit the following transfers for capital cost escalations on existing capital projects: $137.7 million as the uncommitted balance of the 2023 positive operating variance from the Fiscal Stability Reserve to the Reserve for Future Capital; $35 million the 2023 ENMAX dividend variance from the Legacy Parks Reserve to the Reserve for Future Capital; and $34.6 million for the 2023 Franchise Fee variance.