Budget Committee of the Whole Meeting
Agenda

BCW#01-25

Tuesday, May 06, 2025 at 1:30 P.m. - 4:30 P.m.

Council Chambers

225 East Beaver Creek Road

Richmond Hill, Ontario

Chair, Joe DiPaola, Regional and Local Councillor

PUBLIC NOTICE

City facilities are open to the public to attend Council and Committee meetings. The public can observe meetings of Council and Committees by attending in-person or by viewing the livestream of the open session part of these meetings which can be accessed on the City’s website (Richmondhill.ca) or on the City’s YouTube page (linked from the City’s homepage).

Public Comments: The public may submit written correspondence regarding agenda items by email to [email protected]. Written correspondence must be submitted by 12 p.m. (noon) one business day before the meeting. Comments submitted will be provided to all Members of Council, are considered as public information and will be included on the public agenda posted to the City's website.

Delegations: Any person who wishes to speak to Council on agenda items must pre-register with the Office of the Clerk by 12 p.m. (noon) one business day before the meeting. Applications to appear as a delegation can be submitted by email to [email protected] or by using the on-line application form found on Richmondhill.ca. Delegations can be in person, or electronically by video conference or telephone. The Office of the Clerk will provide instructions on appearing as a delegation.

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1.

Call to Order

2.

Adoption of Agenda

3.

Disclosures of Pecuniary Interest and General Nature Thereof

4.

Delegation(s)

5.

Scheduled Business

5.1

SRCFS.25.018 - Year-End Operating Results as of December 31, 2024

- Presentation by Gigi Li, Director, Financial Services/Treasurer

(Please note this is a 20-minute presentation)

• a) That the 2024 Operating Results be received for information purposes;

  b) That the 2024 Operating Budget carryforward items of $255,000 listed in Appendix “B” to staff report SRCFS.25.018 be approved and carried over to the 2025 Operating Budget;

  c) That the 2024 Library deficit of $136,600 be funded through a one-time supplementary Municipal Grant in 2024 to support leadership transition planning;

  d) That the surplus allocation and deficit funding as detailed in Appendix “C” to staff report SRCFS.25.018 be approved:

  i. 2024 Operating Fund surplus of $1,843,000 be allocated as follows:

  • • $929,200 transferred to the Tax Rate Stabilization Reserve
    • $913,800 transferred to the Workplace Safety and Insurance Board (WSIB) Reserve Fund

  ii. 2024 Water and Wastewater Fund deficit of $2,428,200 be funded from the Water Rate Stabilization Reserve.

  iii. 2024 Stormwater Management Fund surplus of $197,500 be transferred to the Water Quality Protection Reserve Fund.

5.2

SRCFS.25.020 - 2024 Investment Portfolio Results

• a) That staff report SRCFS.25.020 regarding 2024 Investment Portfolio Results be received for information purposes.

5.3

SRCFS.25.017 - 2026 Capital and Operating Budget Strategy

- Presentation by Gigi Li, Director, Financial Services/Treasurer

(Please note this is a 20-minute presentation)

• a) That staff report SRCFS.25.017 regarding the 2026 Capital and Operating Budget Strategy, be received;

  b) That Budget Committee of the Whole recommends the Mayor directs staff to present a 2026 Draft Capital Budget that:

  1. Continues to manage the City’s capital program reflective of the City’s Strategic Priorities;
  2. Maximizes all funding from external sources, development charges and reserve funding;
  3. Does not exceed the proposed funding envelopes, including project management and overhead costs:

  1. 1. $34.5 million from Tax Supported Reserve Funds.
     2. $33.3 million from Development Charges Reserve Funds.
     3. $8 million from Cash-in-Lieu of Parkland Reserve Fund.
     4. $34.1 million from Water and Wastewater Reserve Funds as per the Council Approved Financial Plan.
     5. $15.2 million from Water Quality Protection Reserve Fund for Stormwater Management projects as per the Council Approved Financial Plan.

  c) The Budget Committee of the Whole recommends the Mayor directs staff to prepare a 2026 Draft Operating Budget that:

  1. Recognizes and responds to the financial pressures affecting residents, with particular attention to tariffs, the rising cost of living, and ongoing affordability challenges;
  2. Balances financial pressures on the City including the need to build and maintain growth related infrastructure and continuing to deliver important services that make our City a premium community in which to live;
  3. Reviews spending and find efficiencies to ensure financial prudence and sustainability;
  4. Supports and aligns with the City’s Strategic Plan and its three pillars of growing a livable, sustainable community; focus on people; strengthening our foundations;
  5. Utilizes the budget considerations outlined in staff report SRCFS.25.017 as a guideline;
  6. Proposes a Capital Asset Sustainability Levy in the operating budget equivalent to 1.5% tax rate increase.

  d) The Budget Committee of the Whole recommends the Mayor directs staff to present a 2026 Draft Water and Wastewater Budget that follows the principles of the 2024 Water and Wastewater Financial Plan;

  e) The Budget Committee of the Whole recommends the Mayor directs staff to present a 2026 Draft Stormwater Management Budget that follows the principles of the 2024 Stormwater Management Financial Plan;

  f) The Budget Committee of the Whole recommends the Mayor directs staff to proceed with the 2026 Budget process in accordance with the timelines outlined in Appendix “A” and guidelines described in staff report SRCFS.25.017.

6.

Adjournment