Committee of the Whole · May 15, 2024 · Item 4.1.3
A Tree Compensation reserve fund (365) be opened to fund tree planting activities from fees collected under the Tree By-law (2010)-19058 or successor by-laws. That a…
Main motion under the agenda item 2023 Long-term Financial Statement: Reserves and Debt, 2024-219
Carried (12 to 0)
12 in favour, 0 against — unanimous
What was voted on
The motion in its exact words, as recorded in the minutes.
That a Tree Compensation reserve fund (365) be opened to fund tree planting activities from fees collected under the Tree By-law (2010)-19058 or successor by-laws. That a Property Assessed Clean Energy Funding reserve fund (305) be established to record and track grant funding received from the Federation of Canadian Municipalities and the disbursement of funds. That the Property Assessed Clean Energy reserve fund (362) be renamed PACE Loan Loss Provision reserve fund and that the purpose and terms are updated as outlined in this report. That $500 thousand be transferred from the Stormwater Contingency reserve (359) to the Stormwater Capital reserve fund (165) in 2024.
Moved by Councillor Allt, seconded by Councillor Klassen.
How the room voted
In favour (12)
- Allt
- Billings
- Busuttil
- Caron
- Caton
- Chew
- Downer
- Gibson
- Goller
- Guthrie
- Klassen
- O'Rourke
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.
- 2023 Long-term Financial Statement - Reserves and Debt - 2024-219.pdf
An annual update on the City's savings accounts (reserves and reserve funds) and debt as of the end of 2023, which also meets provincial reporting rules. Reserves grew $31.5 million, or 6.5 per cent, to $519.2 million before commitments, with $17.1 million of that from interest. Council is asked to create a tree compensation reserve fund and a clean energy grant fund, rename an existing fund, and move $500,000 into the stormwater capital reserve fund.
- Attachment-1 Reserve and Reserve Fund Activity for 2023.pdf
- Attachment-2 Development Charges Reserve Fund Statement.pdf
- Attachment-3 Development Charges Project Financing Statement.pdf
- Attachment-4 2023 Debt Activity.pdf
A summary is this site’s description of a document, not the City’s. Open the document before relying on one.
What was said
48 words from the meeting recording, transcribed automatically. Times are from the start of the recording.
Read the debate(click to open)
1:05:15We have a number of recommendations
1:05:17We have four clauses under that recommendation a mover and a seconder councillor Allt councillor classon
1:05:22any separation of the clauses
1:05:26Seeing none call for anyone opposed to that motion
1:05:31Seeing none that motion is carried
1:05:34I will look over to deputy
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The motion, the vote and the debate come from the City of Guelph’s published record, reproduced rather than interpreted. The document summaries above are the exception: those words were written for this site.