February 4, 2019 - Agenda

Pg. #

ITEM

MINUTES

FIN-5

1.

Motion to adopt the minutes of the meeting of the Finance Committee held on January 14, 2019.

FINANCE AND CORPORATE SERVICES DIVISION

2.

Additional Information on the 2019 Capital Budget 
(File Ref. No. 03-0970-01) (REDMS No. 6094831 v. 2)

FIN-13

See Page FIN-13 for full report

Designated Speaker:  Jerry Chong

STAFF RECOMMENDATION

(1)

That the staff report titled “Additional Information on the 2019 Capital Budget” from the Director, Finance dated January 28, 2019 be received for information;

(2)

That the 2019 Capital Budget as presented in Appendix 3 of the staff report titled “2019 Capital Budget” from the Director, Finance dated January 11, 2019 totaling $116,524,202 be approved and staff authorized to commence the 2019 Capital Projects; and

(3)

That the 2019 Capital Budget totaling $116,542,202 and the 2020-2023 Capital Projects be included in the Consolidated 5 Year Financial Plan (2019-2023).

3.

Additional Information on the 2019 One-Time Expenditures 
(File Ref. No. 03-0970-01) (REDMS No. 6095085 v. 3)

FIN-211

See Page FIN-211 for full report

Designated Speaker:  Jerry Chong

STAFF RECOMMENDATION

(1)

That the staff report titled “Additional Information on the 2019 One-Time Expenditures” from the Director, Finance dated January 28, 2019 be received for information; and

(2)

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

4.

2019 Proposed Operating Budget – Referral Response 
(File Ref. No. 03-0970-01) (REDMS No. 6101097 v. 3)

FIN-244

See Page FIN-244 for full report

Designated Speaker:  Jerry Chong

STAFF RECOMMENDATION

(1)

That the 2019 Operating Budget as presented in Table 8 of the staff report titled 2019 Proposed Operating Budget – Referral Response 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; and

(b)

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

(c)

Ongoing funding for expenditures previously approved by Council totaling $1,112,825 for the following items: 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 0.51% be approved; and

(d)

Pursuant to Council’s Safe Community Priority program, provide funding for 36 additional firefighters in the amount of $6,023,898 with a three-year phase in plan, resulting in a tax increase of 0.93% in 2019, 0.93% in 2020 and 0.93% in 2021 be approved; and

(e)

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; and

(f)

Pursuant to Council’s Safe Community Priority program, provide funding for 51 RCMP officers and 20 municipal employees to support the RCMP Detachment in the amount of $8,844,350 with a three-year phase-in plan, resulting in a tax increase of 2.62% in 2019, 0.73% in 2020 and 0.73% in 2021 be approved; and

(g)

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; and

(h)

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; and

(i)

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; and

(j)

City-wide additional levels in the amount of $149,828 as presented in Attachment 1, with a tax increase of 0.07% be approved; and

(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 6.82% as listed in staff recommendation 1 above be approved; and

(3)

That the 2019 Operating Budget of 6.82% be included in the Consolidated 5 Year Financial Plan (2019-2023).

5.

Consolidated 5 Year Financial Plan (2019-2023) Bylaw No. 9979 
(File Ref. No. 03-0970-25-2019, 12-8060-20-009979) (REDMS No. 6106877)

FIN-261

See Page FIN-261 for full report

Designated Speaker:  Andrew Nazareth

STAFF RECOMMENDATION

(1)

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

(2)

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

ADJOURNMENT