Budget Committee of the Whole Meeting

Minutes

Meeting #:	BCW#05-19
Date:	Wednesday, June 26, 2019 at 1:00 P.m. - 4:00 P.m.
Location:	Council Chambers 225 East Beaver Creek Road Richmond Hill, Ontario

Committee Members Present:

• Mayor Barrow
• Regional and Local Councillor Perrelli
• Regional and Local Councillor DiPaola
• Councillor Beros
• Councillor Muench
• Councillor West
• Councillor Cilevitz
• Councillor Chan

Regrets:

• Councillor Liu

 

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1.

Adoption of Agenda

• Moved by: Regional and Local Councillor Perrelli

  That the agenda be adopted as distributed by the Clerk .

  Carried Unanimously

2.

Disclosure of Pecuniary Interest and General Nature Thereof

There were no disclosures of pecuniary interest by members of Council under the Municipal Conflict of Interest Act.

3.

Delegations

There were no delegations.

4.

Scheduled Business

4.1

SRCFS.19.016 - Year-End Operating Results as of December 31, 2018

David Dexter, Director, Financial Services and Treasurer, provided an overview of the 2018 Operating Fund financial results and the 2018 Water, Wastewater and Stormwater financial results, and reviewed the Water, Wastewater and Stormwater deficit and allocations.

• Moved by: Councillor Beros

  a) That the overview of the 2018 operating results as detailed in staff report SRCFS.19.016 be received for information purposes;

  b) That the 2018 Operating budget carry-forward items listed in Appendix 'B' to staff report SRCFS.19.016 totaling $119,000 be approved;

  c) That the surplus allocation measures listed in Appendix 'C' to staff report CFS.19.016 be approved.

  Carried Unanimously

4.2

SRCFS.19.017 - 2018 Investment Portfolio Results

David Dexter, Director, Financial Services and Treasurer, presented the 2018 investment portfolio results noting the City’s Investment Policy and the economic conditions and financial markets for 2018. He reviewed the 2017 and 2018 year end portfolio breakdown, and provided a comparison with other municipalities as a general reference.

• Moved by: Mayor Barrow

  a) That staff report SRCFS.19.017 regarding the 2018 Investment Portfolio be received for information purposes.

  Carried Unanimously

4.3

SRCFS.19.032 - 2018 Development Charges, Cash in Lieu of Parkland and Section 37 Community Benefits Reserve Funds Statement

David Dexter, Director, Financial Services and Treasurer, presented the City’s 2018 Development Charges, Cash in Lieu of Parkland and Section 37 Community Benefits Statement, including a comparison of revenues and expenditures for Development Charges for the years 2014 to 2018, and a comparison of revenues and expenditures for Cash in Lieu of Parkland for the years 2013 to 2017.

• Moved by: Councillor Muench

  a) That staff report SRCFS.19.032 regarding 2018 Development Charges, Cash in Lieu of Parkland and Section 37 Community Benefits Reserve Funds Statement, be received for information purposes;

  b) That the 2018 Development Charges, Cash in Lieu of Parkland and Section 37 Community Benefits Reserve Funds Statement be made available to the public on the City of Richmond Hill website as outlined in the report.

  Carried Unanimously

4.4

SRCFS.19.030 - Richmond Hill Mobility Accessibility Foundation Grant Request

• Moved by: Mayor Barrow

  a) That the Richmond Hill Mobility Accessibility Foundation grant request, as provided in Appendix 'A' to staff report SRCFS.19.030, be received for consideration;

  b) That a grant in the amount of $50,000 be allocated from the Disabled Parking Reserve;

  c) The future Mobility Grant requests be awarded by the Treasurer consistent with approved budgets.

  Carried Unanimously

4.5

SRCFS.19.019 - 2020 Capital and Operating Budget Strategy

David Dexter, Director, Financial Services and Treasurer, provided an update on the City’s Tariff of Fees process, and presented the 2020 capital and operating budget strategy including a capital forecast for the years 2020 to 2028, overview of the Community Enhancement and Economic Vitality Reserve Fund, guidelines and considerations.

• Moved by: Councillor Beros

  a) That report SRCFS.19.019 regarding the 2020 Capital and Operating Budget Strategy be received;

  b) That the 2020 Tax Supported Capital Budget be capped at $14 million;

  c) That staff develop and present an Operating Budget that does not exceed a 1% increase, and include a list of options to achieve this goal for Budget Committee of the Whole’s consideration.

  Carried Unanimously

5.

Adjournment

• Moved by: Councillor Chan

  That the meeting be adjourned 

  The meeting was adjourned at 3:04 p.m.

  Carried