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HomeMy WebLinkAboutCST 14-11l_Lfy Oo PICKERING 94 Report To Council Report Number: CST 14-11 Date: March 21, 2011 From: Gillis A. Paterson Director, Corporate Services & Treasurer Subject: 2011 Current and Capital Budgets Recommendation: That Report CST 14-11 of the Director, Corporate Services & Treasurer be approved; a) That the 2011 Current Budget expenditure for personnel expenditures, consisting of salaries and wages (Account 1100), overtime (Account 1200) and employer contributions (Account 1400), in the total amount of $42,867,211 be approved; b) That the 2011 Gross Current Budget expenditures for City purposes in the amount of $34,356,589 (excludes personnel expenditures and includes capital expenditures from currerit revenues in the amount of $1,163,395); less estimated current operating revenues of $28,957,742 and transfer from the Rate Stabilization Reserve of $2,817,338 be approved; c) That the total final City levy under a) and b) above plus an additional $200,000 for Seaton Professional fees total final levy of $45,648,720 which is approximately a 3.56% increase over 2010 be approved; 2. a) That the 2011 Capital Budget for the City of Pickering with a Gross Expenditure of $24,425,825 be adopted as presented and amended (that includes the capital budget changes approved by Council at the Executive Committee meeting of March 10, 2011; b) That the following capital financing sources be approved as presented in the amended 2011 Capital Budget: Report CST 14-11 March 21, 2011 Subject: 2011 Current and Capital Budgets Page 2 95 Transfer from Current Fund to Capital Fund $1,163,395 Transfers from Reserves: - Capital Equip Res (7000) 184,000 - Rate Stabilization Res (7021) 18,072 - Don Beer Arena (7033) 20,000 - Rec Complex Core Surcharge (7034) 69,500 - Rec Complex Pool Reserve (7035) 80,000 - Vehicle Replacement Res (7040) 130,000 - Easement Settlement Res (7041) 240,000 - Move Ontario Reserve (7043) 14,533 - Land Purchase Reserve (7047) 200,000 Transfers from Reserve Funds - Development Charges (7610 & 7611) 1,622,870 - Parkland Development (7502) 511,000 - Federal Gas Tax Funds (7505) 1,140,000 - City Share Dev. Charges Projects (7022) 697,455 - Third Party Contribution (7501) 200,000 Debt - 5 yr 1,240,000 Debt - 10 yr 2,290,000 Debt - 15 yr 10,192,000 Internal Loan - 5 yr 100;000 Provincial Grant - Invest in Ontario 323,000 York Region Funding Agreement 3,000,000 Reimbursement Province of Ontario 900,000 Donations (1592) 90,000 TOTAL $24,425,825 c) That total external.debt financing of $13,722,000 for the projects identified in the 2011 Capital Budget, and as indicated in this report, in the amount of $1,240,000 for a period not to exceed 5 years, $2,290,000 for a period not to exceed 10 years and $10,192,000 for a period not to exceed 15 years be approved; Report CST 14-11 March 21, 2011 Subject: 2011 Current and Capital Budgets Page 3 d) That the internal loan in the amount of $100,000 be undertaken at the discretion of the Director, Corporate Services & Treasurer; e) That projects identified in the 2011 Capital Budget as being financed through the issuance of debt be subject to additional, specific approval of the expenditure and the financing by Council; fl That any debt repayment, interest or financing provisions contained in the annual Current Operating Budget not used in the current year's payments requirements may, at the discretion of the Director, Corporate Services & Treasurer, be used to apply towards additional principal~ repayment, outstanding loan or debt charges or to reduce debt, internal loans or any other amounts to be financed; g) That all Capital expenditures or portions thereof, approved in the 2011 Capital budgets to be financed through the issuance of debt, may, at the discretion of the Director, Corporate Services & Treasurer, be financed through internal loans, dealer financing, current or capital funds or a combination thereof; h) That the Director, Corporate Services & Treasurer be authorized to make draws from Reserve and Reserve Funds for projects included in the approved capital budget up to the amount approved; i) That the Director, Corporate Services & Treasurer be authorized to, at his discretion, apply any excess funds raised from completed projects financed by internal loans to first repay the original internal loans, and secondly to reduce or replace budgeted internal loans or debts; j) That the Director, Corporate Services & Treasurer be authorized at his discretion to apply any excess funds through the issuance of debentures as provided for under Section 413 of the Municipal Act, 2001 as amended; 3. That Council approve the cancellation of the previous approvals for the East Shore Parking Lot.as identified below and return the unspent funds to source: Year Account No. 2005 5701.0503.6181 2006 5701.0602.6181 2009 5701.0904.6181 4. That Council approve the cancellation of the 2010 capital project (Account 5320.1019) for the Liverpool Road Reconstruction (Annland Street to Ilona Place) and return the unspent funds to source; . Report CST 14-11 March 21, 2011 Subject: 2011 Current and Capital Budgets Page 4 97 5. That the funding for the Operations Centre Environmental Assessment as approved in the 2009 Capital Budget be revised from Invest in Ontario Grant to the following: Development Charges $34,435 Invest in Ontario Grant 65,565 $100,000 6. That the Director, Corporate Services & Treasurer be authorized to transfer: a) Any surplus current operating funds at year-end in excess of approximately $125,000 in the following ratio: 30% to the Rate Stabilization Reserve and 70% to the City Share DC Projects Reserve; b) Any funds necessary from the Rate Stabilization Reserve in order to ensure that the Current Budget results in a year end surplus of no less than $125,000; c) If Veridian does not declare a supplemental dividend in the amount of $475,650 , the corresponding dollar short fall be offset by an increase in the draw from the Economic Stabilization Reserve; 7. That the Director, Corporate Services & Treasurer be authorized to make any changes or undertake any actions necessary, in order to ensure that the budget plan accommodates any reallocation of 2011 current operating expenditures and revenues resulting from any reorganization and any adjustment in taxes or tax rates due to Provincial and Regional tax policy changes; 8. That any under expenditures from projects funded from Federal or Provincial Grants may be used to fund over expenditures for approved projects funded from the same source(s); 9. That the Director, Corporate Services & Treasurer be authorized at his discretion to close any prior year's capital project accounts, and to first apply any excess funding to any over expenditure in other capital accounts and secondly, to transfer any remaining excess funding back to the original source of the funds; 10. That the Director, Corporate Services & Treasurer be authorized to: a) Undertake transactions in the spot or forward (12 months or less) currency markets in order to effect United States dollar denominated expenditures in the Current or Capital Budgets; b) Enter into leases or rental agreements for the provision of vehicles or equipment required for temporary use during periods of equipment breakdown or repair or during periods of increased need (eg. Inclement weather); , Report CST 14-11 Subject: 2011 Current and Capital Budgets Page 5 98 c) Restate the 2011 Current Operating Budgets, Accounts 1100 (Salaries & Wages), 1200 (Overtime) and 1400 (Employer Contributions), to reflect any CUPE or Fire Services negotiated settlement; 11. That the Mayor and Clerk be authorized to enter into the following leases as provided for in the 2011 Current Budget: a) Lease for Bentley-Gibson House (located on 1688 Highway 7 in Brougham) for a period of three years with an option to renew for two more years; and, b) Lease for Unit 4- 935 Dillingham Road for a period of three years with an option to renew for one more year; 12. That Council pass the attached General Municipal Fees and Charges By-law which provides for the fees and charges that are incorporated into the 2011 Current Budget; 13. That the Director, Corporate Services & Treasurer be authorized to adjust, where appropriate, the per kilometre travel expense reimbursement rate during the year in order to maintain a reasonable level of reimbursement with any increase in cost being met from under expenditures in other accounts; 14. That Council approve the reallocation of the following accounts to facilitate reporting requirements to the appropriate cost centre as presented below: a) Corporate website expenditure of $130,000 be allocated to account 2192.6100.0000 (Website Support); b) City DC share expenditure of $100,000 be allocated to account 2891.0000.0000 (City Share of DC Projects); c) Hospital MRI grant funding in the amount of $100,000 to be allocated to account 2195.2570.0000 (Social & Charitable Grants); d) New financial suite expenditure of $175,000 be allocated to account 2127.2392.0000 (consulting) and any under spending in this account be transferred to the Financial Systems Reserve; and, e) Seaton Professional fees expenditure of $200,000 be allocated to account 2126.2392.0000 (General Government Purchased Services); 15. As provided in the 2011 capital budget, that Council approve the Mattamy (Brock Road) Limited sanitary sewer project (5320.1116) for a total cost of $130,000 as part of the Mattamy Servicing of Draft Plan SP2008-01 (subdivision agreernent to be amended); March 21, 2011 Report CST 14-11 Subject: 2011 Current and Capital Budgets March 21, 2011 Page 6 16. That Council approve the continuing engagement of the firm of Watson and Associates to complete the following projects: City Development Charge Study, Seaton Development Charge Study, City-wide Seaton Development Charge Study, Seaton Financial Impact Study and any other studies related to Seaton and or Duffin Heights; 17. That Council approve the continuing engagement of the City's telephone services provider Caltech to upgrade the telephone system software and voicemail system and any other related software and hardware equipmenfi; 18. That the Director, Corporate Services & Treasurer be authorized to initiate any assessment appeals necessary to protect the assessment base of the City; and, 19. That the appropriate staff of the City of Pickering be given authority to give effect thereto. Executive Summary: This report contains a summary of the 2011 Current and Capital Budgets and a discussion of the Recommendations contained in this report. Financial Implications: At the Executive Committee meeting on March 10, 2011, the following changes were made to the draft Current and Capital Budgets resulting in a decrease of the budget levy from 4.75% to 3.56%: March 10, 2011 as presented 4.75% Less: Decrease in Reserve Draw (1.13) Decrease in MRI Grant (0.05) Revised 2011 Levy Budget 3.56% Average Residential Increase After Reassessment 2.99% 99 This increase when combined with the Region and the School boards increase, after reassessment, results in a total average residential increase of 2.15%. Report CST 14-11 Subject: 2011 Current and Capital Budgets Page 7 1 ~ Table One Budget and Tax Levy Increases Budget Levy Average Residential Increase Increase * City 3.56% 2.99% Region 2.92% 2.42% School Board 0 0 Increase on Total Tax Bill 2.58% 2.15% * The information presented in this column shows the budgetary increase adjusted for the impact of reassessment. The above excludes any potential Provincial Tax Policy changes. In addition to the above changes, Council also reviewed the current and capital budget on a"line-by-line" basis resulting in the following changes: Current Budget Changes General Government Section Grants: Feed the Need Durham $5,000 Current Budget Reductions General Government Section Grants: Ribfest , (5,000) Tapp-C (3,128) Hati Relief (1,000) Regional Councillor J. O'ConnelPs budget (5,300) City Councillor D. Pickle's budget (7,000) Council Support - Subscriptions (2113.0001.2220) (500) Total Net Current Budget Changes 16 928 Capital Budget Changes East Shore Parking Lot Reconstruction Project's scope was reduced Gross Cost $275,000 Project Funding Easement Settlement Res (240,000) Rate Stabilization Res (18,072) Current Budget Changes - March 10t" Meeting - Property Taxes (16,928) 275 000 The Net Current budget reduction of $16,928 was applied to help fund the East Shore Parkin Lot Reconstruction. March 21, 2011 Report CST 14-11 March 21, 2011 Subject: 2011 Current and Capitai Budgets Page 8 101 The 2011 Current and Capital Budgets, if adopted as amended, will result in a budget levy increase of 3.56% (City Share Only) over last year. The residential property class will see an average 2.99% increase on the City portion of their property taxes, after adjusting for reassessment. Sustainability Implications: The 2011 Current and Capital Budgets have emphasized the need for financial sustainability by reducing the Rate Stabilization Draw and by increasing the annual contribution to the City Share DC Reserve Fund. Background: The Recommendations put forth are those necessary to adopt and provide authority and direction for the 2011 Current and Capital Budgets for the City of Pickering. 2011 Current Budget As Members of Council may recall, last spring staff presented a proposed 2011 budgetary increase of approximately 7.9 to 8.9% based on information available at that time and to maintain City service levels at their current level. At the March 10th Executive (Budget) Committee meeting, Council was presented with a proposed tax levy increase of 4.75%. Included in the 4.75% levy were four important corporate priorities which are: financial suite; City website; increase in City share DC project funding; and the hospital MRI donation. These priorities were approved at the March 10t" meeting with only a slight change regarding the timing of the hospital MRI contribution. The MRI funding is now going to be allocated over five years in contrast to the proposed four year plan. In addition, the financial strategy to decrease the use of one-time funds was reduced by $500,000. The net result of the above changes is a revised budget levy increase of 3.56%. The 3.56% budget levy increase would be the second lowest increase during the last ten years. The 3.56% levy compares favourably to other municipalities when you consider that Pickering has not had the advantage of strong assessment growth for many years like its Lakeshore Neighbours. Tax Increase Summary As discussed at the March 10, 2011 Executive Committee meeting, the residential property class experienced on average a property tax decrease due to reassessment. In other words, the average residential assessment related increase due to reassessment of 2.94% was below the Pickering average of 3.51 % resulting in a shift of property taxes to the other property classes. As a result of the 2011 Council adopted budget, residents will see an average 2.99% increase on the City portion of their property taxes (after reassessment). Pickering's share of the total tax bill is 27.5% (based on 2010 tax rates). The 3.56% tax increase, translates into an increase of 0.98% or slightly less than one percent on the Report CST 14-11 March 21, 2011 D~,Subject: 2011 Current and Capital Budgets Page 9 G total tax biil. When you add the Region's tax increase for Pickering of 2.92% and the School Boards estimated 0% increase, the total increase for the residential ratepayer will be approximately 2.58%, which is slightly above the rate of inflation. For the average residential taxpayer, after taking into consideration the impact of reassessment, the total tax increase would be 2.15%. Table Two below provides a summary of the financial impact of the proposed 2011 budget levy increase based on the various types of residential structures. Table Two Financial Impact of Budge# Increase City Share Only 2010 2011 Inc. Cost Per Week Single Family Home $1,286 $1,325 $39 $0.74 Avg. Assess. ($350,970) Semi Detached $902 $929 $27 $0.52 Av . Assess. $246,170 Res. Condominium $736 $758 $22 $0.42 Av . Assess. $200,850 Major Financial Challenge - Reduce the Use of One Time Funds The most critical financial challenge facing the City today is to reduce its use of one- time funds during the present term of Council. The 2010 tax levy of 3.90% was achieved by using $3.3 million of one-time funds. In other words, without the use of these funds, the 2010 tax levy would have been 11.7%. The good news is that the 2010 budget did not increase its draw from the Rate Stabilization Reserve. Financial management is one of the City's five Corporate Priorities. Starting iri 2011, the use of "one-time funds" to artificially lower the budget levy increase has been reduced by, $500,000. Council's goal should be to eliminate the use of such "one-time" funds by the end of its present term. Report CST 14-11 Subject: 2011 Current and Capital Budgets Page 10 03 Use of One Time Funds For the Years 2007 To Projected 2013 $3,400,000 $3,000,000 $2,600,000 $2,200,000 $1,800,000 $1,400,000 $1,000,000 $600,000 $200,000 If Council follows the above plan, approximately $5.4 million will be withdrawn over the next four years. 2011 Current Budget 2011 Budget Impact Seaton Development Recent actions have required that planning and development initiatives respecting Seaton be accelerated, partly as set out in the Settlement Agreement approved by Council in February of this year. The 2011 current budget includes the fiollowing direct costs related to this agreement: Exaenditures Four staff (salaries & benefits) $193,000 Consulting 556,000 Sub Total 749,000 Transfer to Seaton Development Review Reserve 1,384,000 Total Expenses $2,133,000 Revenues Funding from Seaton Application Fees (2,133,000) March 21, 2011 Net Cost $0.0 2007 2008 2009 2010 2011 2012 2013 1 0 Actuals B Budget ■ Forecast Report CST 14-11 Subject: 2011 Current and Capital Budgets Page 11 The remaining Seaton application revenue will be transferred to the Seaton Development Review Reserve and in future years, these dollars will be used to offset staffing and consulting costs related to Seaton. Recommendation 11 a) - Lease of Bentley - Gibson House As noted in the CAO's memo of January 20, 2011, the Greater Toronto Airport Authority (GTAA) vacated their offices at the Bentley-Gibson House. As growth is imminent, and given that the Civic Complex is at full capacity, with little prospects to accommodate our workspace needs, it is prudent that the City secure this space for the next three years. Recommendation 11 a) authorizes the Mayor and Clerk to enter into a three year lease with an option for renewal of two more years at an attractive rate. The cost to lease for one year (approximately $27,000) and furnish the Bentley-Gibson House is estimated at $75,000 and has been included in the Current Budget. Recommendation 11 b) - Lease of Unit 4- 935 Dillingham Road The Parks current budget includes $50,000 for lease costs associated with this space. By leasing this space, the City snow removal and park equipment will be located closer to their work areas resulting in savings in gas and "wear and tear" on the equipment. Leasing this space will also save considerable travel time especially during the reconstruction of the Brock/Rossland Road areas. Recommendation 11 b) provides the legal authority for the Mayor and Clerk to enter into the lease agreement. . Veridian The breakdown and or explanation of Veridian revenue is presented below. 2010 EST. ACTUAL Dividend (38.5%) 1,886,000 Supplemental Dividend * 254,381 Interest on Prom notes 1,834,813 $3,975,194 2010 BUDGET 2,009,000 1,590,250 $3,599,250 INCREASE F 2011 (DECREASE) (1,470) 475,650 (163,400) $310,780 March 21, 2011 BUDGET 2,007,530 475,650 1,426,850 $3,910,030 Report CST 14-11 March 21, 2011 Subject: 2011 Current and Capital Budgets Page 12 1. 05 Veridian staff have provided City staff with a revenue forecast this year that includes a supplemental dividend. If approved the increase in income from Veridian would be approximately $311,000 which has been included as revenue in the 2011 Budget. Tangible Capital Asset Reporting & Impact on Current Budget Starting with the 2009 budget, the City commenced implementing the requirements of tangible capital asset reporting. One of the first changes was to move those capital expenditures below the $5,000 dollar threshold to the current budget. The 2011 budget has been changed to comply with the Council approved Tangible Capital Asset Reporting requirements. The most significant change has been to move major repairs and minor equipment purchases from the capital budget to the current budget. The estimated dollar transfer from capital to current is approximately $490,000. These expenditures are being funded from property taxes. 2011 User Fees & Charges Schedule Every year, the City increases its user fees, mainly for various recreational and cultural programs to partially reflect the cost of delivering these programs. Council passed Resolution #149/03 confirming the City's existing user fees through by-law. This By-law was updated as part of each year's budget process. A number of Planning & Development fees have been increased since 2010. Planning application fees have been increased to reflect consumer price index increases since 2006 when the fees were last updated. In addition, major official plan amendment and zoning by-law amendment fees have been further increased to better reflect the full cost of processing these applications and to bring them in line with other GTA municipalities. Building fee unit rates have been increased to reflect annual cost of living increases. Other fees have been introduced to address industry trends and their associated costs. 2011 Budget Based on Estimates As in previous years, the City's budget is developed based on estimates or best known information for items such as utilities and benefits. For the 2011 budget, an estimate was made regarding fire fighter salaries due to the fact the fire contract expired on December 31, 2009. To put another way, the City is now estimating what the fire contract settlement will be for the years 2010 and 2011. Every year the contract is not settled, there is a risk of having insufficient funds to meet the negotiated settlement. The CUPE contract will expire on March 31St of this year and a provision has been included in the budget. Debt Financing of Capital Projects This year's capital budget utilizes $13.72 million of external debt. As of December 31, 2010, the City has approved $21.84 million in debt financed projects and this amount will increase to $35.56 million as a result of the 2011 capital budget. Internal loans of $100,000 are required and are reflected in the 2011 budget. (The internal loan project is for the noise attenuation wall project). This year, the City will pay $3.73 million in Report CST 14-11 March 21, 2011 Subject: 2011 Current and Capital Budgets Page 13 interest and principle payments to service the City's debt. The $3.7 million is equivalent to 8.45% of the budgetary #ax levy. In other words, if Pickering had no outstanding debt, there would be 8.45% more flexibility. Table Three External Debt and Internal Financing of Capital Projects City of Pickering 5, 10 and 15 Year Debt Financing 2011 Ca ital Bud et Capital Project Code Debt - 5 Years Description 5311.1103 $150,000 Sidewalk - Snow Clearin Plow and Blower 5320.1102 210,000 Four Ton Dum Truck 5320.1109 175,000 Sheppard Ave - Completion 2008 Works 5320.1117 200,000 Valley Farm Rd. - Steel Beam Guiderail 5719.1103 200,000 Claremont Communtiy Centre - Parkin Lot 5410.1102 175,000 Brownin Ave. - Storm Sewer Re lac. 5780.1104 130,000 Garba e Packer Total Five Year Debt $1,240,000 Capital Project Code Debt - 10 Years $ Description 5410.1101 $200,000 WestShore - Flood Redem tion 5700.1103 550,000 Civic Com lex Walkwa 5701.1101 110,000 Senior Centre - Roof Re lacement 5701.1102 150,000 East Shore Comm Centre - Reinforcement 5320:1118 330,000 Westshore Blvd. - Road Reconstruction 5320.1102 950,000 Liverpool Rd. - Underground Conversion Total Ten Year Debt $2,290,000 Capital Project Code Debt -15 Years $ Description 5203.1101 $850,000 ORC Lands-Duffin Hei hts 5315.1101 8,000,000 Land for New O erations Centre 5321.1101 807,000 Third Conc. Rd. - Urbanization 5321.1106 535,000 Brock Rd. (Both Sides) - CP Under ass Total Fifteen Year Debt $10,192,000 Total Debt Financed Projects 13 722 000 Report CST 14-11 March 21, 2011 Subject: 2011 Current and Capital Budgets Page 14 107 2011 Tax Rates As has been the case for the last few years, the 2011 Property Tax rates and corresponding levy By-law will be presented to Council after the Province provides the education tax rates. 2011 Capital Budget This year, senior staff are proposing a$24.4 million capital budget that includes a land purchase of $8.0 million for the new Operational centre. In addition, staff have included $3.0 million in funding from the York Region Memorandum of Understanding (MOU) agreement for capital projects that are still to be determined. Without, the land acquisition cost, the City's 2011 capital budget would be $16.4 million. The major capital projects are listed below. Land for New O erational Centre $8,000,000 York MOU projects 3,000,000 Liver ool Road - Under round Conversion 950,000 Don Beer Memorial Park Relocation 900,000 Civic Complex - Courtard & walkwa re lacement 550,000 In addition to the above major capital projects, the amount of $100,000 has been added as the City share towards a noise abatement wall along the rear lots of Marinet Crescent, as a result of the recent motion passed by Council. This expenditure is being financed by an internal loan and any costs associated with this project will occur in 2012. Recommendation 15 - Sanitary Sewer Project The development of the Duffin Heights neighbourhood requires the installation of a sanitary sewer (400 mm) crossing under Brock Road from the Mattamy site to the west side of Brock Road (at Dersan). This sanitary sewer will provide for future capacity for the mixed use lands on the west side of Brock Road from the north limit of the Duffin Heights Neighbourhood to the south limit (including city owned lands). Delay of this installation would increase costs significantly, disrupt access on Dersan Street and the the future William Jackson Drive, and delay the development of the mixed use lands. Recommendation 15 provides staff the authority to amend the subdivision agreement between Mattamy (Brock Road) Limited and the City to provide for the construction of this sewer. The total cost of this works is approximately $300,000. City up-front funding is $130,000 with $52,000 being recovered in the future from other land owners, resulting in a net city cost of $78,000. Report CST 14-11 March 21, 2011 Subject: 2011 Current and Capital Budgets Page 15 108 Government Grant Funding The 2011 capital budget proposes to use various grants to reduce the City share of the project's cost. The major grants are: Federal Gas Tax ($1,140,000) and Investing in Ontario ($323,000). Future Capital Budget Trends Every year the capital budget is reduced by deferring projects or replacement expenditures to future years. Future capital budgets will continue to reflect higher budget dollars for replacement expenditures as our infrastructure ages and deferral is no longer an option. Unfortunately, this means that there will be fewer capital dollars for other capital projects. In other words, for at least the next five years, the City's capital budget will be primarily focused on the capital three (R's): replacement, renovations and repairs. Multi-Year Financial Strategic Plan Last year, staff presented to Council a multi-year high level financial plan for the years 2011 to 2014. At the Executive Committee meeting of March 10, 2011 staff presented a strategic financial projection based on the years 2011 to 2015 reflecting various assumptions regarding the future economic environment. 2012 Proforma Budget 2013 Proforma Budget 2014 Proforma Budget 2015 Proforma Budget Cit Bud et 1.4 to 2:4% 1.5 to 2.5% 1.5 to 2.5% 2.5 to 3.5% Non Seaton - New Debt Char es 1.0% 1.0% 1.0% 1.0% Draw Decrease 2.1 % 2.0% 1.5% 0.0% Pro osed Draft Lev ' 4.5 to 5.5% 4.5 to 5.5% 4.0 to 5.0% 3.5 to 4. The above projection excludes any cost associated with Duffin Heights & Seaton. The above financial projection includes an allocation for capital debt financed projects. Projects related to this funding limit will be further identified in the five year capital budget exercise that will be undertaken later this year. Future City Growth Related Costs for Duffin Heights & Seaton Presented below is a high level estimate of the future capital costs related to Duffin Heights and Seaton. The preliminary cost for Duffin Heights capital projects (in priority order is presented below): Report CST 14-11 Subject: 2011 Current and Capital Budgets Operations Centre & Animal Shelter (including land and services) Communitv Centres Duffin Heights Seaton (main complex - excluding land) Seaton (secondary - excluding land) New Fire Headquarters (excluding land) Fire Hal1 (Seaton North West) City HaIVLibrary (Expansion) Total 'Future Project Costs The majority of the projects listed above will be debt financed. March 21, 2011 Page 16 109 $38,500,000 40,000,000 80,000,000 50,000,000 20,000,000 10,000,000 30,000,000 $268,500,000 During the next eight years, Council will have to give serious consideration regarding the phasing in of these future capital projects in order to have sufficient assessment growth to assist in offsetting debt payments. Attachments: 1. By-law to Confirm General Fees and Charges, 2011 2. Budget Fresentation Slides, March 10, 2011 Prepared By: Approved/Endorsed By: Stan Karwowski Gillis A. Paterson Manager, Finance & Taxation Director, Corporate Services & Treasurer Copy: Chief Administrative Officer Recommended for the consideration of PickeringzO-ipy CouncA Tony rrb"vedel, P.Eng. Chief Administrative Officer ATTACHMENT#/ Tp REP0RT#_asriy-/I 11Q The Corporation of the City of Pickering By-law No. xxxx/11 Being a by-law to amend By-law No. 6191/03 to confirm General Municipal Fees Whereas the Council of the Corporation of the City of Pickering enacted By-law 6191/03, as amended, on October 14, 2003 to confirm general municipal fees. Whereas Schedule "I" to By-law. 6191/03 was updated and replaced under By-law, 6338/04, By-law 6519/05, By-law 6652/06, By-law 6677/06, By-law 6748/07 By-law 6857/08; By-law 6951 /09 and By-law 7032/10; Now therefore the Council of the Corporation of the City of Pickering hereby enacts as follows: Schedule "I" to By-law Number 6191/03, as amended, is hereby deleted and Schedule "I" attached hereto is substituted therefore. By-law read a first, second and third time and finally passed this 21St day of March, 2011. David Ryan, Mayor Debbie Shields, City Clerk ATTACHMENT#aL-TO REPORT#-a2' rj-/~/ V~ ~ ~ ~ ~ im ~ i1i ~ V 06 o~S ~ ~ ~ i i ~ V ► ~ ~ ~ O - ca v a. ca . LL Q Lf) ~ O N . I ~ ~ 0 N ~ - ~ 0 N ~ a) N (D x E O W o ~ U ~ U (6 ~ 111 ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ a~ 112 ~ ~ LO o Lo N N N Lq cv I` . 0 L Co N 00 E ~ N O O E ~ VJ 4--+ ~ ~ _ ~ 4--' ~ N ~ CY. 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