Transcript Slide 1

Transit Service Area
Budget Adjustments
The proposed transit service area budget was prepared with the expectation of
full year operation of phase one of the Mississauga Transitway in 2014 and a fuel
price increase based on mid-year diesel fuel pricing. Based on recent
developments the following budget adjustments are proposed:
Mississauga Transitway Operating Cost Adjustment ($-350K)
The delay in the opening the Transitway will result in savings in station and
roadway maintenance costs. The delay will generate a one time saving of
$350k in 2014 .
MiWay Diesel Fuel Budget Increase Adjustment ($-350K)
Based on mid-year pricing the 2014 budget was prepared with a fuel price of
$1.04 per litre which resulted in a increase of $1.7M. In consideration of current
pricing and the outlook for 2014 an average price of $1.02 is recommended
yielding a budget reduction of $350K. The pricing for 2015/16 will be reviewed in
the next business planning cycle to account for rapidly changing market
conditions in North America.
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Proposed Budgets Impact on
Residential Tax Bill
Region of Peel’s Budget is now forecast at
1.5% or 0.6% on the Total Tax Bill
2014
($Millions)
%
Change
$382.6
3.2%
Emerald Ash Borer Management Plan
$2.8
0.8%
Capital Infrastructure Levy and Debt Repayment
Levy
$7.4
2.0%
UTM Funding
$1.0
0.3%
Total Proposed Budget
Mississauga Transitway Operating Cost
Adjustment
$393.8
6.3%
($0.35)
(0.1%)
Miway Diesel Fuel Budget Adjustment
($0.35)
(0.1%)
Adjusted Proposed Budget
$393.1
6.1%
Description
Proposed Budget Excluding Special Purpose
Levies
Total
Impact on
Residential
City’s Portion
Tax Bill
of
(including
Residential
Region and
Tax Bill
Education)
1.9%
2.5%
1.8%
2.4%
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