2023 Surplus Allocation
Motion
1. Approve the allocation of the 2023 operating surplus as follows: General Fund a. RCMP Contract Reserve 1,700,000 b. General Financial Stability Reserve 1,200,000 c. Special Initiatives Reserve 2,870,000 d. Property Acquisition Reserve 500,000 e. General Capital Reserve 2,443,706 Total: $ 8,713,706 Sewer Fund a. Sewer Reserve 419,078 b. Sewer Financial Stability Reserve 100,000 Total: $ 519,078 Water Fund a. Water Reserve 345,639 b. Water Financial Stability Reserve 48,945 Total: $ 394,584 2. Amend the 2024-2028 Financial Plan for final to increase the 2024 budget for the South End Community Centre Land project by $1,500,000.
Sources
Agenda itemCity agenda, whole meeting
Staff reportPage 1
Purpose
To provide the Finance and Audit Committee with information pertaining to the allocation of the 2023 operating surplus.
Staff recommendation
That the Finance and Audit Committee recommend that Council: 1. Approve the allocation of the 2023 operating surplus as follows: 1. General Fund a. RCMP Contract Reserve 1,700,000 b. General Financial Stability Reserve 1,200,000 c. Special Initiatives Reserve 2,870,000 d. Property Acquisition Reserve 500,000 e. General Capital Reserve 2,443,706 $ 8,713,706 2. Sewer Fund a. Sewer Reserve 419,078 b. Sewer Financial Stability Reserve 100,000 $ 519,078 3. Water Fund a. Water Reserve 345,639 b. Water Financial Stability Reserve 48,945 $ 394,584 2. Amend the 2024-2028 Financial Plan for final to increase the 2024 budget for the South End Community Centre Land project by $1,500,000.
DocumentsStaff report about Economic Development