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File #: 20-010    Version: 1 Name:
Type: Staff Report Status: Finance Staff Report
File created: 12/17/2019 In control: Council
On agenda: 1/6/2020 Final action:
Title: 2020 Revenue, Tax, Budget and Financial Sustainability Policies & Objectives
Attachments: 1. Attachment 1 - Bylaw No 2986 Schedule "A" Policies and Objectives
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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REQUEST FOR DECISION

DATE: December 18, 2019 Report No. FIN-20-002
TO: Laurie Hurst, Chief Administrative Officer
FROM: Ian Irvine, Director of Financial Services
SUBJECT:

Title
2020 Revenue, Tax, Budget and Financial Sustainability Policies & Objectives
End

RECOMMENDATION:

Recommendation
That Council approve the 2020 Revenue, Tax, Budget and Financial Sustainability Policies and Objectives as attached to Staff Report No. FIN-20-002, as Schedule A to Financial Plan Bylaw No. 2986.
Body

RELEVANT POLICY:

Community Charter s. 165

STRATEGIC RELEVANCE:

The adopted Financial Plan outlines the service levels, revenue requirements and related policies and objectives for the Township.

BACKGROUND:

The Community Charter states that the Financial Plan must set out the policies and objectives of the municipality for the planning period in relation to the sources of funding, property tax distribution and permissive exemptions. The Revenue, Tax, Budget and Financial Sustainability document discusses these areas as well as others such as growth and revitalization strategies, fees and charges, and financial sustainability. The policies and objectives in this document are those of Council and will provide direction to staff regarding the execution of the financial plan.


ISSUES:

1. Rationale for Selected Option

There is a requirement that the Financial Plan Bylaw, which includes documented policies and objectives, be adopted prior to May 15 each year. The document attached to this report [Attachment 1] is similar to what was adopted last year with minor changes as requested at a recent Committee of the Whole meeting.

In addition to minor wording adjustments, the following changes were made to the document to reflect the decisions of the Committee:

* Removal of clause 1.1 "Distribute property tax increases equitably among all property classes"
* Amendment of clause 1.2 to remove "without increasing the tax burden on the residential property class"
*...

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