The City’s stormwater management program budget continues to increase dramatically and there appears to be a lack of clarity on the total cost. When comparing March 17^th, 2017 budget estimates ($400 million or more), and the December 4, 2017 AECOM's report ($659 million), the difference is an increase of $259 million (approximately 65%) in less than a year. In addition, an April 18^th, 2018 letter provided to the Urban Land Institute (ULI) lists total costs as anywhere between $500-$600 million. In order to ensure an effective stormwater program, it is important that the total cost be identified and consistent. As it stands, these costs continue to rise and fluctuate, so it is important that the finance committee be informed on the following:

• Budget and related documents for the $400 million figure sited on March 17th, 2017 (see attached stormwater document)
• Budget and related documents for the $659 million budget provided in the AECOM report on December 4, 2017 (see attached AECOM report)
• Budget and related documents for the $500 - 600 million budget provided on the ULI letter, on April 18, 2018 (see attached ULI letter)
• Detailed accounting of the variances between the budgets
• Funding sources for the current budget
• Additional planned stormwater capital expenditures, if any, (eg.more sea walls)
• Planned operating cost increases related to capital expenditures
• Reporting and oversight processes in place
• Proposed new reporting and oversight processes