Title
2013 BUSINESS PLAN - YEAR END REPORT
1. That the 2013 Business Plan Year End Report representing an achievement of 99% of the financial budget associated with the tax rate supported plan, 109% of the planned reserve contribution target for water (before 2012 rebate), 123% of the reserve contribution target for wastewater operations, and 84% of the planned reserve draw for parking operations, be received.
2. That the 2013 year-end tax rate supported surplus of $1,597,200, comprising $418,020 in net surplus from Service Partners and $1,179,180 in surplus from services provided by the City of Barrie, be distributed as follows:
a) $545,141 carried forward to 2014 to fund items that were committed in 2013 by purchase order or contract but remained incomplete or undelivered at December 31, 2013;
b) $114,000 to the County of Simcoe Capital Reserve (13-04-0446);
c) $656,641 to the Tax Capital Reserve (13-04-0440); and
d) $281,418 to the Tax Rate Stabilization Reserve (13-04-0461).
3. That the 2013 wastewater rate surplus of $1,235,563 be distributed as follows:
a) $30,426 carried forward to 2014 to fund items that were committed in 2013 by purchase order or contract but remained incomplete or undelivered at December 31, 2013;
b) $843,596 to the Wastewater Rate Capital Reserve (12-05-0575); and
c) $361,541 to the Wastewater Rate Stabilization Reserve (12-05-0577).
4. That the 2012 water rebate of $1,991,500 be funded from the Water Rate Stabilization Reserve with the resulting water rate surplus of $237,530 being distributed as follows:
a) $8,270 carried forward to 2014 to fund items that were committed in 2013 by purchase order or contract but remained incomplete or undelivered at December 31, 2013;
b) $160,482 to the Water Rate Capital Reserve (12-05-0580); and
c) $68,778 to the Water Rate Stabilization Reserve (12-05-0582).
5. That consistent with motion 14-08 approved by the Library Board, the Barrie Public Library's 2013 operating deficit in the amount of $108,582.29 be funded from the Library Ramp-up Reserve.
6. That a new reserve (13-04-0446) with the description "County of Simcoe Capital Reserve" be established to hold funds collected for the County's Capital Program but not yet spent.
7. That $950,000 collected for the County of Simcoe's 2012 Capital Program but not yet spent be transferred from the Tax Capital Reserve (13-04-0440), where the funds are currently held, to the County of Simcoe Capital Reserve (13-04-0446). (FIN004-14) (File: F00)