February 11, 2019 - Agenda (Special)

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ITEM

MINUTES

FIN-3

Motion to adopt the minutes of the meeting of the Finance Committee held on February 4, 2019.

FINANCE AND CORPORATE SERVICES DIVISION

1.

Alternative Funding Sources for the 2019 One-Time Expenditures 
(File Ref. No. 03-0970-01) (REDMS No. 6121598 v. 3)

FIN-18

See Page FIN-18 for full report

Designated Speaker:  Jerry Chong

STAFF RECOMMENDATION

(1)

That the recommended one-time expenditures totaling $1,315,909 and an additional $110,000 for Minoru Aquatic Centre operational maintenance for a total of $1,425,909 as outlined in Table 1, be approved with funding from the Rate Stabilization Account (RSA); and

(2)

That, should Council approve different amounts or choose alternative sources of funding, the Consolidated 5 Year Financial Plan (2019-2023) be amended accordingly at a future date.

2.

2019 Proposed Operating Budget – Same Level of Service Referral Response  
(File Ref. No. 03-0970-01) (REDMS No. 6122324)

FIN-53

See Page FIN-53 for full report

Designated Speaker:  Jerry Chong

STAFF RECOMMENDATION

That:

(1)

a same level of service budget increase, after tax growth, of $2,167,033 with a tax increase of 1.00% before additional levels of service be approved;

(2)

the 2019 Operating Budget overall tax increase of 4.82% as presented in Table 2 of the staff report titled “2019 Proposed Operating Budget – Same Level of Service Referral Response” be approved; and

(3)

the 2019 Operating Budget of 4.82% be included in the Consolidated 5 Year Financial Plan (2019-2023).

3.

Consolidated 5 Year Financial Plan (2019-2023) Bylaw No. 9979 
(File Ref. No. 12-8060-20-009979) (REDMS No. 6121102)

FIN-59

See Page FIN-59 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