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PRESENTATION REGARDING THE 2018 BUSINESS PLAN AND BUDGET OVERVIEW
Craig Millar, Director of Finance and Treasurer provided a presentation concerning an overview of the 2018 Business Plan and Budget.
Mr. Millar discussed slides concerning the following topics:
• The budget drivers associated with the 2018 Business Plan;
• An overview of the 60+ services delivered by the City of Barrie;
• The culture of innovation at the City of Barrie;
• Responsible spending and financial management and grant opportunities;
• A graph illustrating Barrie’s taxes in comparison with other municipalities with populations over 100,000;
• The economic outlook for the City of Barrie;
• A graph illustrating the unemployment rate for the City of Barrie in comparison with the Province of Ontario;
• The residential and non-residential construction activity between 2012 to 2017 to date;
• The 2017 forecast for reserves, as a percentage of accumulated amortizations and the reserve comparisons in 2016 between the City of Barrie with the peer average;
• The 2018 Business plan process;
• The 2018 Budget directions;
• Pie charts illustrating the portioning of a single tax bill;
• A pie graph illustrating the proposed 2018 tax operating budget;
• A pie graph illustrating the 2018 sources of operating revenue;
• A summary of proposed tax budget changes;
• A summary of the Service Partners budget changes;
• The rate budgets associated with water, wastewater and parking;
• The 2018 Capital Budget directions;
• A chart summarizing the 2018 to 2022 Capital Plan;
• A pie graph illustrating the 2018 requested Capital Budget by asset class and investment area;
• A pie graph 2018 illustrating the requested Capital Budget by funding source;
• The impacts of growth and infrastructure associated with the 2018 Capital Plan;
• A pie graph illustrating 2018 to 2022 requested and forecasted capital budget by asset class and investment area;
• A pie graph illustrating the 2018 to 2022 requested and forecasted capital budget by funding source;
• A summary of the Development Charge Reserve forecast;
• A graph illustrating the Development Charge Collection projected versus actual/forecast;
• Charts summarizing the tax capital reserve, water capital reserve and waste water reserve;
• A graph illustrating the forecasted annual debt requirements between 2018 to 2022;
• A graph illustrating debt servicing by funding source between 2018 to 2022 by funding sources;
• A graph illustrating the annual debt servicing costs to annual repayment limit; and
• The next steps in the Business Plan approval process.
In closing, Mr. Millar provided details regarding the next steps in the 2018 Business Plan and Budget process.
Members of Council asked a number of questions regarding the presentation and received responses from City staff.