January 14, 2019 - Agenda (Special)

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ITEM

MINUTES

FIN-5

Motion to adopt the minutes of the meeting of the Finance Committee held on January 9, 2019.

RICHMOND PUBLIC LIBRARY

1.

2019 Operating and Capital Budgets for Richmond Public Library
(File Ref. No.) (REDMS No. 6087962)

FIN-8

See Page FIN-8 for full report

Designated Speaker:  Susan Walters

STAFF RECOMMENDATION

That the 2019 Richmond Public Library Operating and Capital budgets as presented in this report dated January 10, 2019 from the Chief Librarian and Secretary to the Board be approved with a same level of service municipal contribution of $9,710,500, representing a 3.90% increase.

FINANCE AND CORPORATE SERVICES DIVISION

2.

2019 Capital Budget
(File Ref. No. 03-0985-01) (REDMS No. 5957086 v. 4)

FIN-16

See Page FIN-16 for full report

Designated Speaker:  Jerry Chong

STAFF RECOMMENDATION

(1)

That the 2019 Capital Budget as presented in Appendix 3 totalling $116,524,202 be approved and staff authorized to commence the 2019 Capital Projects; and

(2)

That the 2019 Capital Budget totalling $116,524,202 and the 2020 - 2023 Capital Projects be included in the Consolidated 5 Year Financial Plan (2019 - 2023).

3.

2019 Proposed Operating Budget
(File Ref. No. 03-0985-01) (REDMS No. 5961004 v. 8)

FIN-186

See Page FIN-186 for full report

Designated Speaker:  Jerry Chong

STAFF RECOMMENDATION

(1)

That the 2019 Operating Budget as presented in Option 4 in Table 14 of the staff report titled 2019 Proposed Operating Budget be approved as follows:

(a)

A same level of service budget increase, after tax growth, of $3,249,703 with a tax increase of 1.50% before additional levels of service be approved;

(b)

Non-discretionary external senior government increase of $2,987,000 with a tax increase of 1.38% be approved;

(c)

Ongoing funding for expenditures previously approved by Council totaling $3,389,308 for the following items: 16 RCMP Officers, 3 Municipal Employees to support the RCMP Detachment, an Emergency Program Neighbourhood Preparedness Program Assistant, Richmond Public Library Expanded Senior Services, Minoru Centre for Active Living operating budget impact phase-in, and operating budget impact of developer contributed assets with a tax increase of 1.56% be approved;

(d)

Operating budget impact of the 2019 Capital Budget totaling $1,208,320 with a three-year phase-in plan, resulting in a tax increase of 0.18% in 2019, 0.18% in 2020, and 0.18% in 2021 be approved;

(e)

Transfer to reserves for community facilities infrastructure needs as per Council's Long Term Financial Management Strategy in the amount of $2,167,033 with a tax increase of 1.00% be approved;

(f)

City-wide additional levels in the amount of $149,828 as presented in Attachment 10 of the staff report titled 2019 Proposed Operating Budget with a tax increase of 0.07% be approved;

(g)

Pursuant to Council’s Safe Community Priority program, provide 35 additional RCMP officers and 17 additional municipal employees to support the RCMP Detachment in the amount of $6,567,867 as presented in Attachment 12 with a three-year phase-in plan, resulting in a tax increase of 1.01% in 2019, 1.01% in 2020, and 1.01% in 2021 be approved;

(h)

Pursuant to Council’s Safe Community Priority program, the capital and one-time costs for the additional 35 RCMP officers and 17 municipal employees to support the RCMP Detachment in the amount of $839,519 be approved with funding from the Rate Stabilization Account;

(i)

Pursuant to Council’s Safe Community Priority program, the capital and one-time costs for the additional 36 firefighters in the amount of $2,541,276 be approved with funding from the Rate Stabilization Account;

(j)

Pursuant to Council’s Safe Community Priority program, provide 36 additional firefighters in the amount of $6,023,898 as presented in Attachment 13 with a seven-year phase in plan, resulting in no tax increase in 2019 and a tax increase of 0.40% in years 2020 through 2026 be approved;

(k)

The Rate Stabilization Account be used to reduce the overall impact of additional operating costs for a total of $2,968,835 resulting in a tax decrease of 1.37% be approved; and

(2)

That the 2019 Operating Budget overall tax increase of 5.33% as listed in staff recommendation 1 above be approved; and

(3)

That the 2019 Operating Budget of 5.33% be included in the Consolidated 5 Year Financial Plan (2019-2023).

4.

2019 One-Time Expenditures
(File Ref. No. 03-0985-01) (REDMS No. 5962023 v.23)

FIN-261

See Page FIN-261 for full report

Designated Speaker:  Jerry Chong

STAFF RECOMMENDATION

That the recommended one-time expenditures totaling $1,315,909 as outlined in Attachment 1 of the 2019 One-Time Expenditures staff report, be approved with funding from the Rate Stabilization Account and included in the Consolidated 5 Year Financial Plan (2019-2023).

5.

Consolidated 5 Year Financial Plan (2019-2023) Bylaw No. 9979
(File Ref. No. 12-8060-20-009979) (REDMS No. 6051665 v. 9)

FIN-270

See Page FIN-270 for full report

Designated Speaker:  Jerry Chong

STAFF RECOMMENDATION

(1)

That the Consolidated 5 Year Financial Plan (2019-2023) Bylaw No. 9979 be introduced and given first, second, and third readings

(2)

That staff undertake a process of public consultation as required in Section 166 of the Community Charter.

ADJOURNMENT