HomeMy WebLinkAboutCS 07/00. ; , 0�7
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�� REPORT TO COUNCIL
FROM: Gillis A. Paterson
DATE: February 28, 2000
Director, Corporate Services & Treasurer REPORT N[JMBER: CS 07•00
(as amended by Budget Committee February 25, 2000)
SUBJEC'I': 2000 Current and Capital Budgcts
RECOMMENDAT[ON:
Thc Budget Committcc rccommcnd to Council that:
1. a) the 2000 Gross Budget of 544,889,404, including capital cxpenditures from curtent
rcvcnucs in thc umount of 51,25G,595, with cstimateJ revenucs of S1G,259,07G u 1999
surplus of $I10,000 nnd debt financing of 54,488,088 resulting in a net levy of
$22,035,351 which aRer thc 2000 Asscssment growth of 5225,205 results in a 0 percent
increase in the Tux Ratc, bc adopted as prescntcd;
b) thc Director, Corporatc Scrvices & Trcasurcr prescnt thc 2000 Property Tax Ratcs for
adoption by Council w�hcn furthcr information from thc Region of Durham and thc
Provincc of Ontario is availatic;
c) cf%ctivc July 1, 2000 thc fcc for issuing Propeny Tax Ccrtificatcs bc incrcascd from SGO
to 565 per certificatc.
2, a) the 2000 Capital Budget with r. Gross Expcnditure of 58,894,835 be adopted as
pnsented;
b) thr, following capital financing sources be approved as presented in the 2000 Capital
Budgct;
Trrmsfer from Curtent Fund to Capital $� 256,595
Fund
Transfer from Capital Equipment Reserve 499,900
Transfers from Rescrve Funds
- Community Fucilities 1,887,240
- DevelopmentChargcs 1,367,212
- Pazkland Development 586,000
- Debt 3,180,188
Developer Contributiona ������
Donations l0•004
• 6.8�
c) the Four-Year Capital Forecant (2001-2004) bo endorsed for financial planning purposes; �
,
• O() s Repo�t to Council CS 07-00 Date: February 28, 2000
Snbject: 2000 Current & Capital Budgets paB� 2
3. a) intemal debt financing ba opprovcd for thc projects idcntified in Aie 2000 Capital Budget
in the amount of: $175,000 far a period not to exceeding 5 years; and, $3,005, l88 for a
period not er.ceeding 10 years;
b) projects identified in tha 1999 Capital Budget as being financed through the issuance of
debt be subject to additionnl, specific approval by Council of the expenditure and thc
financing beforc proceeding;
4. the Twc I.evy due datcs for tha Final Billing be June 28, 2000 and September 27, 2000
excluding realty tax classes affected by Bill 79;
5. the Director, Corporate Services &Treasurer be authorized to make uny changes or
underiake any netions necessary, including chnnging the dates in Recommendation; y
above, in order to cnsure n zero increase in taxes and ta� hiliing proccss is completed;
6. any surplus curtent operating funds at year end 2000, in excess of $110,000 be trar�sferred
to the Rnte Stabilization Rescrve;
7. a) Schedule C of By-Law Number ( 008/79, as amcnded, Part 2— Travcl Expense — Private
Automobile, as a�ncndeJ, anJ By-Law Number 38G6/91 bc rcpealed;
b) effcctive M1farch 1, 200D thc ratc of rcimburscmcnt per kilomcler travcled for business
purposes in personally owned vchicics be incrcascd from 30.1 cents per kilomeler to 40.4
cents per kilomctcr;
c) the Treasurer bc authorizcd to review thc ratcs of rcimburscment, annually and include
any adjustmen►s in thc annual Curtcn► Budget.
8. thc appropriatc slaff of thc City of Pickcring givcn nuthority to givic effcct thcrcto.
ORIGIN:
Director, Corporate Serviccs & Treasurer
AUTHORITY:
The Municipal Act, R.S.O. 1990, us amended
FINANCIAL IMPLICATIONS:
If the Budgets are adopted az presented therc will be a 0% increase in the Ciry's portion of the
property tax bill. Costs nssociatcd with the increase in the per kilomctre ratc of rcimburscment of
business travel will be absorbed within the 2000 Curtent Budget.
EXECUTIVE SUMMARY:
Not Applicable.
BACKGROUND:
Not Applicable. .
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Rcport to Counci) CS 07-00 Datc: Fcbruary 28, 2000 n n�
Subjxh 2000 Curnnt & C�pital Budgets Page 3
ATfACHMENTS:
Not Applicabla
Prepazed / Approved / Endorsed By:
� Gillis A. Paterson
Director Corpornte Services & Treasurcr
GAP/vw
Copy: Chief Administrative Officer
Director, Operations & Emergency Serviccs
Director, Planning and Development
Recommcnded for thc consideration oC
Pickering City Council
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