TAMRMS#: B06
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Budget Tax Adjustments
Presented by: Diane McMordie, Director, Finance & Assessment/Chief Financial Officer
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RECOMMENDATION(S)
recommendation
1. That $35,000 of Municipal Growth Revenue be transferred to the Growth Stabilization Reserve.
2. That the 2019 Final Tax Requirement of $105,002,500 as a result of a consolidated budget of $272,477,300 as detailed in the attachment titled “2019 Adjusted Consolidated Budget” be approved.
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PURPOSE OF REPORT
The purpose of this report is for Council to review Administration’s recommended amendments to the approved Operating or Capital Budgets, prior to the finalization of the annual tax levy.
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
N/A
BACKGROUND AND DISCUSSION
Prior to the presentation of the annual Tax Bylaw for consideration, Administration presents proposed adjustments to the budget that was approved by Council in December. Amendments can arise due to circumstances that may have changed subsequent to the preparation/approval of the budgets, adjustments to estimates, Council motions, or new requirements of an emergent nature.
Municipal Property Tax and Recommended Budget Adjustments
In December 2018, Council approved a Consolidated Bud...
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