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ITEM

MINUTES

FIN-1

Motion to adopt the minutes of the meeting of the Finance Committee held on Monday, December 6, 2010.

BUSINESS AND FINANCIAL SERVICES DEPARTMENT

FIN-7

1.

2011 OPERATING BUDGET REFERRALS

(File Ref. No.:) (REDMS No. 3126960)

Designated Speakers:  Andrew Nazareth and Jerry Chong

STAFF RECOMMENDATION

That the staff report entitled “2011 Operating Budget Referrals” dated January 18, 2011, from the General Manager, Business and Financial Services, be received for information.

FIN-21

2.

2011 OPERATING BUDGET-SURPLUS FUNDING

(File Ref. No.: ) (REDMS No. 3126267)

Designated Speakers:  Andrew Nazareth and Jerry Chong

STAFF RECOMMENDATION

That:

(1)

the staff report entitled “2011 Operating Budget-Surplus Funding” dated January 18, 2011 from the Director of Finance on the 2011 Operating Budget-Surplus Funding be received for information;

(2)

the 2011 Operating Budget report dated January 10, 2011 (Appendix 3) with an average tax increase impact of 2.94% be approved as the basis for preparing the 5 Year Financial Plan (2011-2015); and

(3)

Council appropriate $3.7M of the estimated 2010 operating surplus for the following items:

(a)

Contribution to Oval Corporation

$1.5M

(b)

RCMP Provision

$1.2M

(c)

Transfer to Reserves

$1.0M

$3.7M

ADJOURNMENT