TAMRMS#: B06
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2020 Budget Adjustments
Presented by: Diane McMordie, Director, Finance & Assessment/CFO
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RECOMMENDED MOTIONS
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Alternative Motion #1:
That a 2020 final tax requirement of $110,264,000 resulting in a consolidated budget of $310,306,000 as detailed in the attachment titled “2020 Adjusted Consolidated Budget” be approved.
Alternative Motion #2
That a 2020 final tax requirement of $109,220,000 resulting in a consolidated budget of $309,262,000 as detailed in the attachment entitled "2020 Adjusted Consolidated Budget -- revised" be approved
[PROCESS NOTE: Shortly before debate began on the budget adjustment motions on May 4, 2020, Councillor Hughes advised Council and Administration of her intention to move a motion to revise the 2020 Adjusted Consolidated Budget to reduce overall budgeted expenditures for 2020 by 1%. That motion was not made on May 4 due to passage of another motion to defer finalization of the adjusted budget to May 11. In anticipation of the 1% expenditure reduction proposal being brought forward on May 11 Administration has analyzed its impact and has set out that analysis under the Alternatives section of this report. By passing Alternative Motion #2 above, Council would adopt the 1% expenditure reduction.]
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PURPOSE OF REPORT
The purpose of this report is for Council to finalize the approved 2020 consolidated operating budget 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 Adm...
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