TAMRMS#: B06
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2021 Municipal & Utility Budgets
Presented by: Diane McMordie, Director, Finance & Assessment/CFO
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RECOMMENDED MOTIONS
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1. That the 2021 Consolidated Municipal and Utility Budget in the amount of $288,019,200 and the Net Tax Requirement of $111,975,200 as shown in the attachment titled “2021 Consolidated Budget” be approved
2. That the 10 Year Municipal Growth Capital Plan provided as an attachment to the December 21, 2020 agenda report titled “2021 Municipal & Utility Budgets” be approved
3. That the 10 Year Utility Growth Capital Plan provided as an attachment to the December 21, 2020 agenda report titled “2021 Municipal & Utility Budgets” be approved
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PURPOSE OF REPORT
This report presents the 2021 Municipal and Utility budgets, as recommended by Committee of the Whole, for Council’s review and approval.
ALIGNMENT TO PRIORITIES IN COUNCIL’S STRATEGIC PLAN
Strategic Priority #1: Growth Policy Framework: Develop a robust policy framework to guide growth.
Strategic Priority #4: Infrastructure Investment: Identify and build needed capital assets.
ALIGNMENT TO LEVELS OF SERVICE DELIVERY
Financial Planning
Stewardship of development of annual operating and capital budgets for Municipal and Utility operations.
The approved operating and capital budgets shall serve as the financial plan for the City and provide Administration with the direction and resources necessary to accomplish Council’s strategic direction and Council approved services and service levels in accordance with the Services and Service Levels Inventory
ALIGNMENT TO COUNCIL DIRECTION OR MANDATORY STATUTORY PROVISION
On June 24, 2019, Council passed the following motion (CB-19-012):
·That effective for the 2020, 2021 and 2022 budgets, the equivalent of a 1.50% property tax increase be included in the municipal tax requirement and specifically targeted to capital reserves to support the repair, maintenance and replacement of existing capital as...
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