receiving funding under the Safe Restart Agreement for municipal operating pressures, to the City Treasurer or designate
Executive Summary:
Background:
On August 12, 2020, the City of Windsor received a communication letter from the office of the Minister of Municipal Affairs and Housing, Steve Clark describing the COVID-19 funding support through the Safe Restart Provincial and Federal Agreement. Through this agreement, the Province of Ontario has secured up to $4 billion in emergency assistance to support operating financial pressures and transit system challenges for municipalities across the province due to COVID-19.
Up to $2 billion of the above stated amount has been allocated to the municipal operating stream and will be administered through a 2-phase approach. Fifty percent will be allocated in Phase 1 as an immediate per household allocation of funding whereas in Phase 2, the province will review municipality requests for additional funding for the remainder.
In the lead up to this announcement, Administration has been actively monitoring and assessing the potential impacts COVID-19 has had and continues to have on the City. Through the efforts of various departments across the City, a COVID-19 2020 Year-End Financial Projects Report (Council Report: C134/2020) was presented to City Council on July 13, 2020. Contained in the report was a projected total current fiscal year financial impact to the City of $52.0M which was offset by various mitigation measures to date equal to $16.7M and grant funding of $5.6M, thereby reducing the projected impact to the City to $29.7M (inclusive of $4.8M for Transit Windsor) as referenced in the following chart.
| Summary of COVID-19 2020 Year-End Financial Projections | |
|---|---|
| Foregone Revenue | $36.6M |
| Additional Expenditures | $15.4M |
| Total Estimated COVID-19 Financial Impacts | $52.0M |
| Less Amounts Mitigated: | |
| Reduced Corporate Expenditures | $16.7M |
| Announced Federal and Provincial Grants | $5.6M |
| Remaining COVID-19 Financial Impact to be Offset by Federal and Provincial Grants | $29.7M |
Source: Council Report C134/2020