OPERATING ANAL OPERATING ANALYST NOTES Contents I: Overview 1 II: Recommendations 4 III: 2014 Service Overview and Plan 5 IV: 2014 Recommended Total Operating Budget 15 V: Issues for Discussion 30 Appendices: 1) 2013 Service Performance 32 Economic Development and Culture 2) Recommended Budget by Expense Category 34 2014 OPERATING BUDGET OVERVIEW 3) Summary of 2014 Service Changes 37 What We Do 4) Summary of 2014 New Economic Development and Culture's (EDC) mission is to & Enhanced Service advance the City's prosperity, opportunity and liveability by Changes 38 creating a thriving environment for businesses and culture, as well as contribute to the City's economic growth and engage 5) Inflows/Outflows to / from Reserves & Reserve Funds 39 cultural expressions and experiences. 6) 2014 User Fee Rate 2014 Budget Highlights Changes 42 The total cost to deliver this Program to Toronto residents in 2014 is $69.127 million, offset by revenue of $20.634 million for a net cost of $48.493 million as shown below. Approved Recommended Change Contacts (In $000s) 2013 Budget 2014 Budget $% Gross Expenditures 63,430.7 69,126.6 5,695.8 9.0% Judy Skinner Gross Revenue 18,028.9 20,633.7 2,604.8 14.4% Manager, Financial Planning Net Expenditures 45,401.9 48,492.9 3,091.0 6.8% Tel: (416) 397‐4219 Moving into this year's budget EDC's 2014 Operating Budget Email:
[email protected] provides funds for several new and enhanced initiatives, which are aligned with the City's purpose of delivering the Andrei Vassallo Pan Am 2015 games, as well as initiatives that are part of the Senior Financial Planning Culture Phase ‐In Plan to bring the City's spending in culture to Analyst $25 per capita.