Title
2014 BUSINESS PLAN
1. That the 2014 tax-supported base operating budget for municipal operations, with total gross expenditures of $179.2 million and a net property tax levy requirement of $113.0 million be approved with the following amendments to reflect changes since the Business Plan's publication on December 19, 2013:
a) That the net levy requirement be decreased by $236,000 to reflect an increase in the Investment Income of the same amount derived from the PowerStream Inc. promissory note receivable;
b) That expenditures associated with waste collection be increased by $20,000 to fund the additional equipment costs related to the temporary provision of single family residential weekly garbage collection on a 5 day collection cycle from April 7, 2014 to January 11, 2015;
c) That the net budget allocation associated with Corporate postage be increased by $40,000 to fund the increase to postage rates announced by Canada Post;
d) That the $30,000 associated with the Downtown Market Feasibility Study (a feasibility study for a self-sustainable year-round market in the Downtown in accordance with motion 13-G-323) be funded from the Council Strategic Priorities reserve;
e) That the 2014 International Relations Committee gross operating budget be increased by $17,000 to a total of $37,500 in accordance with motion 13-G-314;
f) That expenditures associated with employee insurance & benefits be increased by $319,000;
g) That the transfer to the parking rate reserve from tax supported operating budget in the amount of $814,000 (subsidy of parking operations) be reduced to $nil;
h) That the funds included in the Working funds reserve account 13-04-0401 in the amount of $464,861 and the General support services reserve account 13-04-0461 in the amount of at $693,455 be applied as determined by staff, as an alternate funding source for completed project(s) included in the June 2014 planned debt issuance to reduce the reliance on debt...
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