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TMP-33191
| 2 | | | Advisory Committee Reports | REPORT OF THE INTERNATIONAL RELATIONS COMMITTEE DATED OCTOBER 8, 2024
The Report of the International Relations Committee dated October 8, 2024, was received. | Received | |
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TMP-33190
| 2 | | | Advisory Committee Reports | REPORT OF THE INVESTMENT BOARD DATED NOVEMBER 12, 2024
The Report of the Investment Board dated November 12, 2024, was received. | Received | |
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FRG 1
| 1 | | | Recommendation | RESERVE FUND - INTERNATIONAL RELATIONS COMMITTEE
That $20,000 be transferred from the International Relations Committee Reserve fund to the 2024 International Relations Committee budget. | recommended for consideration of adoption (Section "B") | |
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FRG 2
| 2 | | | Reports of Officers | COMMUNITY PROJECT FUND SUBMISSION FROM COUNCILLOR, G. HARVEY REGARDING GRAFFITI REMOVAL
That the Community Project submitted by Councillor, G. Harvey regarding the Graffiti Removal attached to the Finance and Responsible Governance agenda dated November 27, 2024, be approved. | recommended for consideration of adoption (Section "B") | |
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TMP-33157
| 1 | | | Presentation - AC/RC | PRESENTATION BY DELOITTE REGARDING THE 2024 AUDIT SERVICE PLAN
Katie Devins and Lilian Cheung of Deloitte provided a presentation regarding the 2024 Audit Service plan.
Ms. Devins and Ms. Cheung discussed slides concerning the following topics:
· Executive Summary and Audit Risks;
· Overview of Audit approach;
· Communication requirements;
· New and revised public sector accounting standards; and
· Deloitte resources, assurance services and an overview on managing cyber risks; | Received | |
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TMP-33279
| 1 | | | Presentation - AC/RC | PRESENTATION CONCERNING THE 2025 BUDGET AND BUSINESS PLAN
Mayor Nuttall provided a presentation regarding the 2025 Budget and Business Plan.
Mayor Nuttall discussed slides concerning:
· Overall percentage increase to the City’s Operating Budget;
· Investing in Infrastructure and Capital Projects;
· Overview of the Mayor’s Budget including acknowledgement of City Staff and the City’s AA+ S&P Global Ratings
Craig Gillespie, Senior Manager of Corporate Finance and Investment provided a presentation regarding the 2025 Budget and Business plan.
Mr. Gillespie discussed slides concerning the following topics:
· Proposed budget and fiscal impacts;
· Key features of the budget;
· 2025 proposed tax rate impact;
· Operating summary, budget approvals and user rate budgets;
· Capital Plan objectives and overview of what is in the plan;
· Capital summary and capital budget approvals;
· Long-range financial planning;
· City planning for growth and Capital Plan;
· Total reserves and total reserves broken down by funding source;
· Overview of debt and future progress towards financial sustaina | Received | |
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FRG 3
| 1 | | | Staff Report | 2025 BUSINESS PLAN AND BUDGET - CITY OPERATIONS AND INFRASTRUCTURE INVESTMENT FUNDING PORTIONS
Operating Budget Approvals
1. That the 2025 tax-supported base operating budget for City operations and the Infrastructure Investment Fund, with gross expenditures of $342.6 million and a net property tax levy requirement of $197.8 million, be approved
City Operations and Infrastructure Investment Funding
2. That the 2025 budget request for City Operations, with a net tax supported municipal funding requirement of $197.8 million (for the average assessed residential property this represents a 0% tax rate increase for City operations and a 2% increase associated with Infrastructure Investment Funding), be approved.
3. That the New Investment and Service Recommendations as outlined on page 20 of the 2025 Business Plan with a net cost of $1.9 million (operating) and $74 thousand (capital) and a net property tax levy requirement of $701 thousand with additional funding of $41 thousand from the water rate, $14 thousand from the wastewater rate, $649 thousand from capital projects and $454 t | recommended for adoption (Section "D") | |
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