Budget Committee of the Whole Meeting
Agenda

BCW#02-24

Tuesday, June 11, 2024 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.24.025 – 2025 Capital and Operating Budget Strategy

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

(Please note, this will be a 30 minute presentation)

• a) That staff report SRCFS.24.025 regarding the 2025 Capital and Operating Budget Strategy, be received;

  b) That Budget Committee of the Whole recommends the Mayor directs staff to present a 2025 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. Proposes funding, including project management and overhead costs not to exceed:

  1. 1. $33.3 million from Tax Supported Reserve Funds
     2. $23 million from Development Charges Reserve Funds
     3. $6 million from Cash-in-Lieu of Parkland Reserve Fund
     4. The principles of the approved 2024 Water and Wastewater Financial Plan
     5. The existing capital contribution levels for Water Quality Protection Reserve Fund

  c) The Budget Committee of the Whole recommends the Mayor directs staff to prepare a 2025 Draft Operating Budget that:

  1. Supports the City’s Strategic Priorities;
  2. Utilizes the budget considerations outlined in staff report SRCFS.24.025 as a guideline;
  3. Staff identify service level changes to meet the guideline; 
  4. 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 2025 Draft Water & Wastewater Budget that reflects the wholesale rate increase from Region of York and approved factors from the Water/Wastewater Financial Plan;

  e) The Budget Committee of the Whole recommends the Mayor directs staff to present a 2025 Draft Stormwater Management Budget that aligns with long-term requirements;

  f) The Budget Committee of the Whole recommends the Mayor directs staff to proceed with the 2025 Budget process in accordance with the timetable outlined in Appendix “A” and guidelines described in staff report SRCFS.24.025.

5.2

SRCFS.24.023 – 2025 Budget Engagement Plan

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

(Please note, this will be a 20 minute presentation)

• a) That staff report SRCFS.24.023 regarding the 2025 Budget Engagement, be received for information purposes.

6.

Adjournment