GENERAL COMMITTEE AGENDA BUDGET MEETING #5 Tuesday, January 21, :30-8:30 p.m. Council Chambers

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1 GENERAL COMMITTEE AGENDA BUDGET MEETING #5 Tuesday, January 21, :30-8:30 p.m. Council Chambers AGENDA ITEMS CONFLICTS OF INTEREST DELEGATIONS Nil FINANCE SECTION Page No. Item # Director of Finance Report dated November 13, regarding 2014 Budget Review Agenda A. Council Review: Questions, Additions & Deletions Process: 1. Deferrals/Reductions to Mitigate Budget Impact 2. Budget Approval Items to be voted on as we go Reconsideration of any item voted upon:.occurs only once.occurs only at the end of the budget process, immediately prior to final adoption of the budget. ADJOURNMENT

2 DIRECTOR OF FINANCE REPORT NOVEMBER 13, 2013 ~ 2014 BUDGET REVIEW RECOMMENDA TION(S): 1) That the proposed estimates on the attached schedule entitled "Operating Budget Summary 2014" be approved. 2) That the attached 2014 Capital Budget be approved. 3) That the General Equipment replacement schedules be approved. 4) That the Reserve and Reserve Fund schedules be approved. 5) That the first $150, of any general surplus/deficit resulting in 2014 be allocated to the Industrial Development Reserve and any remaining general surplus/deficit allocated to the Municipal Development Reserve. 6) That 75% of any surplus to a maximum of $50, in the 2014 Winter Control Operating Budget be allocated to the Winter Control Stabilization Reserve, provided that this allocation does not create or magnify a deficit at year-end for ).. That all other aspects of Report be approved. 8) That a further report be prepared and a resolution passed to identify the expenses excluded from the budget, in accordance with O.Reg. 284/09, prior to adoption of the budget by CounciL. 9) That the Director of Finance be authorized to finalize the 2014 City Budget Estimates, with the appropriate Rating By-law presented to CounciL. at

3 Page 2 REPORT: Section 2 Section 3 Section 4 Attached to this report are the following documents: Overview Major Impacts to Budget Schedule. Amortization Expenses Excluded from 2014 Budget & Related Chart 2014 Operating Budget Summary - Consolidated - By Department (includes impact analysis).. Future Budget Impacts - Estimated Deferrals/Reductions to Mitigate Budget Impact Section 5 Capital Budget Financing Proposals for Unfunded Capital Projects Ten Year Capital Forecast Section 6 General Equipment Replacement Contribution Schedule General Equipment Replacement Schedule Section 7 Estimated Reserves Balance Summary Reserve Analysis Charts Reserves & Reserve Funds Hydro Reserve Hydro Reserve Forecast Section 8 Thorold Public Library Budget BIA Budget OdJ

4 Page 3 O. Reg 284/09 The Province has allowed municipalities to exclude from the budget all or a portion of the following expenses: Amortization expenses Post-employment benefits expenses Solid waste landfill closure and post-closure expenses. For 2014, a report must be passed, which details the excluded expenses, and Council must adopt the report by resolution prior to adoption of the budget. Included in this budget package, in the Overview, and as a Schedule in Section 3, are the details of the expenses excluded from the budget. A further report will be prepared, and presented prior to the adoption of the budget, which reflects any changes that are made during the deliberations. SUMMARY The draft budget as presented reflects a budgetary deficit of $698,500. This represents a net levy increase after estimated growth and excluding the OMPF loss of 5.69%. This equates to an estimated 2.1 % overall impact to the total bill. The 2014 net dollar impact, to the average residential home estimated at $66 (based on 2013 CVA numbers) wil be calculated once final numbers are received from MPAC in December. It should be noted that deferrals of close to $10 Milion were necessary to achieve this number, with the largest deferral being the new Operations Centre Building at $5.9 Million. SUBMITTED BY: APPROVED BY: (" Frank A. Fabiano Chief Administrative Officer CITY OF THOROLD GENERAL COMMITTEE DECEMBER 2,

5 Budget 2014 General CommitteelPost Budget Preparation Changes Item Description Starting Position Levy Draft Budget Total Cost Levy Impact Reserve Impact DC $11,430,870 1 Seniors Centre Additional Property Taxes (Commercial not Residential) 2 Remove Council AMO 3 Add to Staff Training 4 Benefits - Premium Reductions vs Estimates 5 Engineering Student Hiring Deferred 6 Eliminate Microfilm 7 Fund Volunteer Recognition Budget from Sports Runway of Recgn 8 Economic DevelopmenUSponsorship - Reduce by 10% 9 Conferences & Conventions 10 AMO Conference Mayor 11 AMO Conference Council 12 Mayor Mileage 13 Council Mileage 14 Rice Road Landfill Monitoring 15 Fed Gas Tax Grant 16 McMillan Park Fence Replacement 17 Eliminate Noon Hour TCAG Swim 18 Reduce Community Grants by 10% 19 Reduce Incremental Capital Asset Renewal Provision 20 Reduce use of Temporary Agency for Reception Backfill 21 Reduce Backfill in Clerk's Department 22 Arbitration Costs 23 Reduce Tourism Budget. Option2 Sub Total - Changes TOTAL LEVY TOTAL LEVY $13,500 'MPAC -$5,000 $5,000 -$63,000 -$12,000 -$1,000 -$1,300 -$3,500 -$500 -$2,500 -$45,000 $45,000 -$21,000 -$6,400 -$3,610 -$18,500 -$2,500 -$4,341 -$10,000 -$17,974 $0 -$159,125 $0 $0 $11,271,745 Starting Position $11,271,745 $11,430, Levy Levy Change $ Levy Change % Assessment Growth ESTIMATED OMPF LOSS Region Net Levy Change (after Growth & OMPF) $10,732,326 $10,732,326 $539,419 $698, % 6.51% -1.20% -0.50% 'MPAC 3.83% 6.01% -0.32% -0.32% 3.51% 5.69% Starting Point Estimated Average Impact to Res'l Home (CVA ) $34.94 $66.00 Estimated Average Overall Tax Bill Average Estimated Res'lTax Bil Estimated Average Res'ITax Bil Impact City Only Impact All Sources Impact All Sources 1.12% 2.10% this is res only 2.05% 2.82% $63.72 $88.00 NB. Taxation Burden Shifts Amongst Classes ww result In varying Impacts to Individual property classes. Assessment Phase In changes ww result In varying Impacts to Individual properties. oy

THE CORPORATION OF THE MUNICIPALITY OF GREY HIGHLANDS PROPOSED CAPITAL AND OPERATING BUDGET OVERVIEW BUILDING THE BUDGET 2

THE CORPORATION OF THE MUNICIPALITY OF GREY HIGHLANDS PROPOSED CAPITAL AND OPERATING BUDGET 20191 1 OVERVIEW BUILDING THE BUDGET 2 2 LEVELS OF REVIEW Departmental Submissions Public Engagement & Council