DARRYL KNIGHT Local Journalism Initiative Reporter for The Standard
BROCK: Local councillors recently received a detailed Capital Projects Status Report for December 2024, from Director of Finance/Treasurer Trena DeBruijn and Deputy Treasurer Michele Kerswill, marking the end of the fiscal year for the municipality.
The report provides a comprehensive update on the status of ongoing capital projects, financial assessments, and the transfer of reserve funds to ensure the completion of necessary works.
Ms. DeBruijn explained, the report’s primary objective was to provide an overview of the capital projects underway and request approval for the transfer of reserve funds to cover projects which have exceeded their original budgets. "The capital projects program plays a vital role in maintaining and improving our assets, and as we enter 2025, it’s crucial to review both completed and ongoing projects, to ensure continued progress," she explained.
The report outlined, a total of $20.2 million was allocated for capital projects in 2024, with $3.8 million being spent, representing approximately 22 percent of the planned expenditures. The remaining funds will be carried forward into 2025, with a balance of $12.9 million set to be used for continuing work. In addition, the surplus funds, of $765,516 from 2024, will be returned to the original funding sources for future use.
Ms. Kerswill added, "Capital projects are often complex and span multiple years. We want to ensure the resources allocated are used efficiently and any overspending is properly addressed." The report noted, five of the 40 projects, completed or closed in 2024, exceeded their budgets by a total of $36,381. Council's approval was requested, to transfer funds from several reserve accounts, to cover these overages.
Among the projects requiring additional funding were the Culvert #344 replacement, on Concession 7, and various park equipment replacements. "While most projects remain within budget, unforeseen circumstances, such as supply chain issues and market conditions, occasionally lead to cost overruns," Ms. Kerswill explained.
The report also highlighted the continued importance of reviewing ongoing projects, with 46 active projects still in progress. "It’s crucial we manage the remaining projects carefully, to avoid delays and ensure they are completed efficiently," said Ms. DeBruijn.
Council members, including Councillor Cria Pettingill and Regional Councillor Mike Jubb, moved to approve the recommendations put forth by staff. "It’s clear, while we face challenges, our capital program is moving forward effectively," Councillor Pettingill stated, during the meeting. "We must continue to monitor these projects closely, to ensure timely completion."
The resolution was carried, with Council approving the closure of completed projects and the transfer of funds from reserve accounts to cover the necessary expenses, for projects which went over budget. As the Township moves into 2025, it will continue to work toward completing the remaining capital projects, as staff are committed to ensuring the funds allocated are used effectively for the benefit of the community.
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