Special Council Meeting - Budget · November 29, 2023 · Item 6.2

2024-2027 rates, fees and charges be approved, subject to amendments during the budget confirmation years. That the Downtown Guelph Business Association budget be approved, subject to any amendments in budget confirmation years, as follows: A 2024 budget with gross expenditures of $697,955 and a total levy…

Amendment under the agenda item 2024-2027 Multi-Year Budget Companion Report - Council Budget Decisions, 2023-370

What was voted on

The motion in its exact words, as recorded in the minutes.

That the 2024-2027 rates, fees and charges be approved, subject to amendments during the budget confirmation years. That the Downtown Guelph Business Association budget be approved, subject to any amendments in budget confirmation years, as follows: A 2024 budget with gross expenditures of $697,955 and a total levy of $700,194. A 2025 budget with gross expenditures of $686,480 and a total levy of $721,200. A 2026 budget with gross expenditures of $706,055 and a total levy of $672,836. A 2027 budget with gross expenditures of $726,655 and a total levy of $695,121. That in accordance with the General Reserve and Reserve Fund Policy, total transfers to and from reserves and reserve funds for 2024 to 2027 are approved, subject to amendments during the confirmation budget years. That the following reserves and reserve fund changes be approved, and Appendix A of the Reserve and Reserve Fund Policy be amended accordingly: Contaminated Sites Reserve Fund (155) be renamed to Brownfield Renewal Reserve Fund City Building Reserve Fund (159) be renamed to Service Enhancement Reserve Fund, and Industrial Land Reserve (332) be renamed to Strategic Property Reserve and that the purpose and terms be updated to broaden the source and use of funds. That Council acknowledges the City’s operating contingency reserve balances are below approved targets, and that staff be directed to replenish these reserves as a first priority through the allocation of year-end surplus until such point that they reach a minimum of 75 per cent of target over the multi-year budget period. That Council acknowledges that the 2025 to 2033 Capital Budget and Forecast is creating reserve fund deficits and that staff be directed to balance the capital budget and forecast within available funding and report back to Council on the changes required through the 2025 budget confirmation. That staff be directed to report quarterly on the actual development charge collections and exemptions and overall funded status of the development charge reserve funds through the budget monitoring reports effective immediately as part of the third quarter 2023 reporting.

Moved by Councillor Allt, seconded by Councillor Klassen.

How the room voted

What council was given

The staff reports and correspondence attached to this item. The summaries are written automatically, so you can tell what a document is without opening a ninety-page PDF.

• 2024-2027 Multi-Year Budget Companion Report - Council Budget Decisions - 2023-370.pdf

  A companion report covering the budget items that fall outside the mayor's new budget powers, to be voted on at a special budget meeting on November 29, 2023. It asks Council to approve 2024–2027 fees and charges, the Downtown Guelph Business Association budgets (starting at $697,955 in gross spending for 2024), reserve transfers, and several reserve fund renamings. It also flags that operating contingency reserves are below target and that the capital forecast creates reserve deficits.

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What was said

156 words from the meeting recording, transcribed automatically. Times are from the start of the recording.

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