Budget Committee of the Whole Meeting
Agenda

BCW#02-20

Tuesday, June 23, 2020 at 1:30 P.m. - 3:30 P.m.

(Electronic Meeting during an Emergency, pursuant to Section 238(3.3) of the Municipal Act, 2001)

Chair, Joe DiPaola, Regional and Local Councillor

PUBLIC NOTICE

Due to efforts to contain the spread of COVID-19 and to protect all individuals, City facilities will not be open to the public to attend Council and Committee meetings until further notice.

Public Comments: The public may submit written correspondence regarding agenda matters by email to [email protected]. Written correspondence must be submitted by 12 p.m. on the day before the meeting. Comments submitted will be provided to all Members of Council, considered as public information and noted in the public record.

Electronic Delegations: The public may apply to appear as an electronic delegation by video conference or by telephone. Applications to appear as an electronic delegation must be submitted by 12 p.m. on the day before the meeting by email to [email protected] or by using the on-line application form found on Richmondhill.ca. The Office of the Clerk will provide instructions on appearing as an electronic delegation.

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1.

Adoption of Agenda

2.

Disclosure of Pecuniary Interest and General Nature Thereof

3.

Delegations

4.

Scheduled Business

4.1

SRCFS.20.014 - Year-End Operating Results as of December 31, 2019

- Presentation by David Dexter, Director, Financial Services and Treasurer, regarding the Year-End Operating Results as of December 31, 2019

• a) That the overview outlined in staff report SRCFS.20.14 regarding the 2019 operating results be received for information purposes;

  b) That the 2019 Operating Budget carryforward items listed in Appendix “B” to staff report SRCFS.20.14 be approved;

  c) That the surplus allocation measures detailed in Appendix “C” to staff report SRCFS.20.014 be approved.

4.2

SRCFS.20.019 – 2019 Investment Portfolio Results

- Presentation by David Dexter, Director, Financial Services and Treasurer, regarding the 2019 Investment Portfolio Results

• a) That staff report SRCFS.20.019 regarding the 2019 Investment Portfolio Results be received for information purposes.

4.3

SRCFS.20.017 - 2019 Development Charges, Cash in Lieu of Parkland and Section 37 Community Benefits Reserve Funds Statement

- Presentation by David Dexter, Director, Financial Services and Treasurer, regarding the 2019 Development Charges, Cash in Lieu of Parkland and Section 37 Community Benefits Reserve Funds Statement

• a) That Council receive staff report SRCFS.20.017 for information purposes;

  b) That the 2019 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 staff report SRCFS.20.017.

4.4

SRCFS.20.018 - Richmond Hill Mobility Accessibility Foundation Grant Request

• a) That the Richmond Hill Mobility Accessibility Foundation grant request, as provided in Appendix “A” to SRCFS.20.018, be received for consideration;

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

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

4.5

SRCFS.20.021 – 2020 Operating Forecast / COVID-19 Pressures and Updated Cash Flow

- Presentation by David Dexter, Director, Financial Services and Treasurer, regarding the 2020 Operating Forecast / COVID-19 Pressures and Updated Cash Flow

• a) That the interim forecast 2020 Operating Forecast / COVID-19 Pressures and Updated Cash Flow outlined in staff report SRCFS.20.21, be received for information purposes;

  b) That staff provide a subsequent update in the Fall 2020;

  c) That with Council direction, staff proceed with “Other Mitigating Measures” to mitigate the COVID-19 impact.

4.6

SRCFS.20.015 – 2021 Capital and Operating Budget Strategy

- Presentation by David Dexter, Director, Financial Services and Treasurer, regarding the 2021 Capital and Operating Budget Strategy

• a) That staff report SRCFS.20.015, regarding the 2021 Capital and Operating Budget Strategy, be received;

  b) That staff present a 2021 Draft Capital Budget that:

  i) Continues to manage the City’s capital program reflective of corporate priorities;

  ii) Maximizes all funding from external sources, development charges and reserve funding and consider the prudent issuance of debt as an alternate use of available funding resources;

  iii) Considers recommendations from the Capital Sustainability Steering Committee and align with outcomes of the Draft Financial Sustainability Strategy.

  c) That staff present a 2021 Draft Operating Budget that:

  i) Supports Council priorities;

  ii) The tax rate increase be no more than 0.5%;

  iii) The operating budget considerations outlined in report SRCFS.20.015 be used as a guideline in the development of the 2021 Operating Budget.

  d) That staff present a 2021 Draft Water, Wastewater & Stormwater Budget that reflects the wholesale rate increase from Region of York and reflects approved factors from the Water/Wastewater Financial Plan and the Stormwater Financial Plan; and

  e) That staff be directed to proceed with the 2021 Budget process in accordance with the timetable outlined in Appendix “A” and guidelines described in staff report SRCFS.20.015.

5.

Adjournment