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2014-2016 Business Plan Update & 2014 Budget Business Plan & Budget Overview

2014-2016 Business Plan Update & 2014 Budget Business Plan & Budget Overview Budget Committee November 26, 2013. Transit Service Area Budget Adjustments.

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2014-2016 Business Plan Update & 2014 Budget Business Plan & Budget Overview

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  1. 2014-2016 Business Plan Update & 2014 Budget Business Plan & Budget Overview Budget Committee November 26, 2013

  2. 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.

  3. 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

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