Risk Analysis:
No significant or critical risks are associated with this recommendation. There is a moderate financial risk as the project will exceed its intended budget by $30,000 which is proposed to be drawn from the Sewer Surcharge Reserve.
Climate Change Risks
Climate Change Mitigation:
The undertaking of the Environmental Assessment will consider Climate Change Mitigation Strategies in accordance with provincial policy.
Climate Change Adaptation:
The improvement of the Little River will assist in enhancing the capacity of the watercourse to carry storm water and resulting runoff to the Detroit River.
Financial Matters:
There is insufficient funding in the capital project, 7201023 Little River Improvements – VIA Chatham Subdivision to Lauzon Road, to cover the costs of the work noted above. Therefore an additional $30,000 is requested to be allocated to the project from the Sewer Surcharge Reserve to complete the project and ensure it is carried out in the 2021 calendar year. The unencumbered Sanitary Sewer Surcharge Reserve (F153) balance is $205,701.79 as of November 30, 2020.
| Description | Amount |
|---|---|
| EXPENSES | |
| Contract Costs | $115,988.40 |
| Non-Recoverable Tax | $2,042.00 |
| Internal/Engineering Costs | $11,969.60 |
| Total Expenses | $130,000.00 |
| REVENUES | |
| 2020 Approved Capital Budget | $100,000.00 |
| Funding Requested from Sewer Surcharge Reserve | $30,000.00 |
| Total Revenue | $130,000.00 |