TAMRMS#: B06
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Consideration of 2020 Municipal & Utility Budgets
Presented by: Diane McMordie, Director, Finance & Assessment Department
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RECOMMENDATION(S)
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That the 2020 Consolidated Municipal and Utility Budget in the amount of $309,919,300 detailed in the attachment titled “2020 Consolidated Budget” be approved.
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PURPOSE OF REPORT
This report presents the 2019 Municipal and Utility budgets, as recommended by the 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 17, 2019 Council passed the following motions:
· PM-20-042 - That the 2020 Municipal Repair, Maintain, Replace (RMR) Capital Budget of 29 capital RMR projects be funded in the amount of $39,571,700.
· PM-20-043 - That the 2020 Utility Repair, Maintain, Replace (RMR) Capital Budget of 14 capital RMR projects be funded in the amount of $11,622,500.
On June 24, 2019, Council passed the following motion (CB-19-012):
· That effective for the 2020, 2021 and 2022 budget, 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 ca...
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