Toronto City Council Budget Committee, 6 Dec 2019

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From YouTube: Budget Committee - December 6, 2019

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Budget Committee, meeting 12, December 6, 2019
Agenda and background materials:
http://app.toronto.ca/tmmis/decisionBodyProfile.do?function=doPrepare&meetingId=15890

Meeting Navigation:
0:10:02 - Call to order

Agenda Items:
0:11:45 - BU12.1 - Capital Variance Report for the Nine Months Ended September 30, 2019 (Ward All)
0:12:24 - BU12.2 - Operating Variance Report for the Nine Months Ended September 30, 2019 (Ward All)
0:13:16 - BU12.3 - Reserves, Council Directed and Obligatory Reserve Fund (Deferred Revenue) Balances Report - September 30, 2019 (Ward All)
0:18:13 - BU12.4 - Information and Technology 2019-2028 Capital Plan Adjustments and Accelerations/Deferrals (Ward All)
0:18:37 - BU12.5 - Budget Subcommittees and Public Presentations on the 2020 Budget

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With the members of the budget committee, please report to committee room one for quorum.

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B

Good morning, everybody I think we will begin the meeting we do have quorum and I'd like to call the 12th meeting of the budget committee to order like to acknowledge the land we're meeting on is on the traditional territory of the many nations, including the mississaugas of the credit, the anashwabi, the chippewa and the nashony and wendell peoples, and is now home to many diverse first nations inuit and metis people. We also acknowledge that toronto is covered by treaty 13, with the mississaugas of the credit, of course, can watch us on youtube.

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Live at toronto city council live where you can follow on your computer or tablet. Are there any declarations of interest under the municipal conflict of interest act?

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Seeing none may have a motion to confirm the minutes of the budget committee meeting on november 25th 2019 councilor bradford removed that all in favor opposed that is carried.

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I would also like to just add one item of new business to our agenda. um It is a proposed item um for our um we're going across the city for consultations. We will be splitting up the budget committee into two um separate subcommittees and there's a letter there just outlining um where and who will be going.

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I've tried to by the way when I, when I made the decisions on who is going to be going on what committee want to make sure we all have the opportunity to go to different parts of the city that we may not have had to done in the past, so hence that was the reason why I didn't did it in the way I did, but, let's move um to.

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Oh, oh sorry, we have to add that item firmly. So I'd like to move that we add that item on favor oppose that's carrot. Okay, so we now have five items on the agenda: let's proceed with the rundown, so go to bu 12.1 the capital variance report for nine months, ending september 30th 2019..

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Are there any questions on the item.

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We're on capitol yeah and just just came in seeing no questions any speakers to the item. If not, can I get a mover of the item? Counselor bradford will move the capital variance report on favor a pose. That's carried going to bu 12.2 the operating variance report for nine months, ending september 30th 2019.

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Are the questions of staff.

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Okay yeah, we do have executive accounts, of course, for more opportunities. Okay, see, councillor leighton was just on uh the operating variance report. Bu 12.2 want to know. If there's any questions from uh on any of the items. Okay, um would you like to move the item?

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Yes, great councilor layton will move there. We are on favor, pose that's carried on to bu 12.3, the reserves council directed an obligatory reserve fund balance reports, september 30th, 2019.

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Counselor leighton sure- and this is just more a matter of when we can expect to report back about how our reserve funds are being invested now and how that investment policy might change to reflect a higher standard for environmental, social and governance, values.

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So through the chair, the toronto investment board actually met this week and we will be bringing forward to the committee in q1 some recommendations made by the investment board, as well as the performance of the investments over uh throughout 2019..

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Thank you, yeah the questions from counselors. I have a few just some questions with regard. I think it's appendix b2, the loan receivable balances um you just go over just generally, how we determine from this as a city, how we we do these loans to various organizations all across the city, what sort of um templates? What do we use in providing loans to organizations.

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So through the chair, I'm going to ask andrew flynn, the provincial, uh the provincial my mistake, the city controller, to answer.

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Mr chair, the each of the individual loan programs are dealt with with, with with respect to specific criteria, different program responsibilities so individually. The loan agreements would be negotiated with the with the proponents, at particular interest rates and repayment terms.

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All of course, subject to uh council approval at the time they were entered into.

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um And a lot of them are really low interest, no interest loans. What would be the purpose of that.

D

uh So, specifically, counselor I'd have to look at the specific programs to to uh to answer that question. I can certainly get back.

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Would it be generally uh a lot of these loans benefiting the city in some respect that you know we want to promote good work in the city? That's probably one of the reasons we don't need to be making money from these as an example.

D

No they're they're, generally speaking, to to provide investments in infrastructure or provide affordable housing. They support the other agencies and corporations of the city. So there's, generally speaking, always that type of reason for for the loan in the first place. Okay,.

B

I've noticed also on the vast majority, when I'm looking at the loan amounts over the last year. There there's vast majority of them. They are being paid down at a certain rate. um Some haven't um st peter's and paul ukrainian community center, even evangel hall. I'm just curious.

B

Why would there be times where there's no payment over this well between december 31st, 2018 to september 30th 2019? Wouldn't you expect it to be.

D

So in in a number of the cases there's a period of time where there's no repayment and then they will start.

B

Okay, be repeat: okay, okay and and with regard to we've heard comments, and we, I guess we had one issue come up at committee last week from teo, live about a long-standing loan that we had to forgive or bad loans. Can you just talk a bit about how you managed to ensure that we don't get into those situations with bad loans, because we have quite a few here? Can you just comment on that?.

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So the to live situation was uh was a different scenario. That was not a formal loan agreement. That was a historical balance that was not set up in a formal loan arrangement like these. These ones are set up as formal loan agreements with with negotiated repayment terms uh and uh interest rates all so it's an entirely different scenario. So the.

B

Vast majority of the loans that we give out are repaid over time all.

D

Well, not all, but with the vast majority. Yes, okay, great! Thank you. I don't know that there's any that we currently have that are in default. Okay,.

B

Great, thank you any other questions on that item speakers. Seeing known, I had all my questions answered on that, so I don't need to speak. um Counselor nunciato moved the item. All favor. Oh that's carried.

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uh Bu 12.4 is the next item: information and technology, 2019-28, capital plan adjustments and accelerations and deferrals questions.

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Seeing none, no speakers, counselor mckelvey, would love to remove that motion. I think, would she excellent um all in favor opposed that's carried, and we have the new item which is um and pink paper in front of you any questions about that again, it's just where we're going to be going during the community consultations between the four sites across the city, seeing none okay again like, as I said, I try to balance it out every year um and making sure people have yeah, but I I do too.

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I've been to scarborough the last couple of years, so I need to now get out to etobicoke. So anyway, all in favor opposed that's carried. I also like you absolutely we'll drive out together.

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Okay, we're adjourned. Thank you. Everybody.

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