TAMRMS#: B06
9.3
REQUEST FOR DECISION
title
Budget Adjustment
Presented by: Suzanne Findlay, Manager, Financial Services, Financial & Strategic Services
label
RECOMMENDED MOTION(S)
recommendation
1. That $1,270,000 of Assessment Growth Revenue be transferred to the Growth Stabilization Reserve.
2. That the 2025 final Consolidated Municipal and Utility Budget in the amount of $405,831,100 and the Net Tax Requirement of $142,487,500 as shown in the attachment titled "2025 Adjusted Consolidated Municipal & Utility Budget" be approved.
body
SUMMARY
The purpose of this report is to bring forward adjustments to the approved 2025 Budget for consideration of approval prior to the finalization of the annual tax levy.
ALIGNMENT TO COUNCIL DIRECTION OR MANDATORY STATUTORY PROVISION
On February 11, 2025 Council approved the following motions:
AR-25-054
That the 2024 Municipal operating surplus, estimated to be $10.8 Million, be allocated as follows:
* $1.85M to the Capital Reserve;
* $1.85M to the Municipal Land and Facilities Reserve;
* $1M to the Water Reserve; and
* ~$6.1M to the Stabilization Reserve.
That the 2025 Utility Budget be adjusted for Council's approval in conjunction with the annual budget amendment agenda report, which is currently scheduled for April 15, 2025, along with any required bylaw amendments with any rate change to be effective May 1, 2025.
On December 17, 2024, Council passed the following motions:
AR-24-598
That the 2025 Consolidated Municipal and Utility Budget in the amount of $404,834,000 with a Net Tax Requirement of $141,608,500 provided as attachment titled "2025 Approved Consolidated Municipal & Utility Budget" be approved.
That the 2025 10 Year Municipal Growth Capital Plan provided as attachment titled "10 Year Municipal Growth Capital Plan" be approved.
That the 2025 10 Year Utility Growth Capital Plan provided as attachment titled "10 Year Utility Growth Capital Plan" be approved.
That the 2025 Munic...
Click here for full text