January 26, 2009 - Agenda


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City of Richmond Meeting Agenda

Finance Committee

 

Anderson Room, City Hall
6911 No. 3 Road

 

Monday, January 26, 2009

Following the Closed Council Meeting

(Approximately 4:15 p.m.)

 

Pg. #

ITEM

 

 

 

 

MINUTES

 

1

1.

Motion to adopt the minutes of the meeting of the Finance Committee held on Wednesday, June 11, 2008.

 

 

 

BUSINESS & FINANCIAL SERVICES DEPARTMENT

 

8

2.

LONG TERM FINANCIAL MANAGEMENT STRATEGY UPDATE

(Report:  January 14, 2009, File No.:) (REDMS No. 2513439)

 

 

Designated Speaker:  Jerry Chong

 

 

STAFF RECOMMENDATION

 

 

That the Long Term Financial Management Strategy Update report (dated January 14, 2009) be received for information.

 

14

3.

2009 CAPITAL BUDGET

(Report:  January 15, 2009, File No.:) (REDMS No. 2523586)

 

 

Designated Speaker:  Jerry Chong

 

 

STAFF RECOMMENDATION

 

 

That:

 

 

(1)

the 2009 Capital Budget be approved as the basis for preparing the 5 Year Financial Plan (2009-2013); and

 

 

(2)

the staff be authorized to commence 2009 capital projects.

 

26

4.

2009 OPERATING BUDGET

(Report:  January 12, 2009, File No.:) (REDMS No. 2559503)

 

 

Designated Speaker:  Jerry Chong

 

 

STAFF RECOMMENDATION

 

 

That the 2009 Operating Budget with a combined net expenditure increase of $4.1 million, including a corresponding property tax increase of 2.94% be approved and form the basis of the City’s 5 Year Financial Plan (2009 – 2013), on the following basis:

 

 

(1)

a net expenditure increase before additional expenditures of $3.0 million resulting in a property tax increase of 2.16%;

 

 

(2)

the inclusion of additional expenditure requests of $1.1 million having a resulting property tax impact of a 0.78% increase.

 

 

5.

MANAGER’S REPORT

 

 

 

ADJOURNMENT