Recommendation: That, on the recommendation
of the Managing Director, Corporate Services and City Treasurer, Chief
Financial Officer, the following actions be taken with respect to the 2014
Operating Budget Status – Third Quarter Report for the General (Property Tax
Supported), Water and Wastewater and Treatment Budgets:
a) the
2014 Operating Budget Status – Third Quarter Report for the General (Property
Tax Supported) Budget, Water Budget and Wastewater and Treatment Budget BE
RECEIVED for information; it being noted that the Civic Administration is
projecting:
i) $1.5
million in net savings for the General (Property Tax Supported) Budget as
identified by Civic Service Areas and Boards and Commissions; it being noted
that the year-end position could fluctuate significantly based on factors
beyond the control of Civic Administration, such as Ontario Works caseload
and winter maintenance;
ii) a
$0.6 million deficit in the Water rate supported budget; it being noted that
a draw from the Water Capital Reserve Fund may be required to balance the year
end position;
iii) $0.8
million savings in the Wastewater and Treatment rate supported budget;
b) the
Civic Administration’s contribution of $1,826,617 ($1,450,522 – property tax
supported; $226,368 – water; and $149,727 – wastewater) to the Efficiency,
Effectiveness and Economy reserves in 2014 BE RECEIVED for information.
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