WITH RESPECT to Report 021-2026-Corporate Services-Finance, we request endorsement from the Finance and Administration Standing Committee to forward the following recommendations to City Council:
WE RECOMMEND THAT the amendments to the following Reserve Funds with respect to By-law 220-2023 be approved as outlined in this Report:
- Capital General Reserve Fund;
- Building Faster Fund Reserve Fund;
- Building Permit Reserve Fund;
- Canada-Community Building Fund Reserve Fund;
- Ontario Community Instructure Fund (OCIF) Reserve Fund;
- Ontario Municipal Commuter Cycling (OMCC) Reserve Fund;
- and Parkland Dedication Reserve Fund;
AND THAT the following by-law schedules included in By-law 220-2023 be repealed and replaced with the revised by-law schedules as appended in Attachments 1-7:
- Schedule 8 - Capital General Reserve Fund;
- Schedule 51 - Building Faster Fund Reserve Fund;
- Schedule 5 - Building Permit Reserve Fund;
- Schedule 6 - Canada-Community Building Fund Reserve Fund;
- Schedule 27 - Ontario Community Instructure Fund (OCIF) Reserve Fund;
- Schedule 28 - Ontario Municipal Commuter Cycling (OMCC) Reserve Fund; and
- Schedule 30 - Parkland Dedication Reserve Fund;
AND THAT the Animal Control Reserve schedule within Appendix A – Schedule of Reserves included in the Reserve and Reserve Fund Policy (Policy 05-01-08) be repealed and replaced with the revised Animal Control Reserve schedule as appended in Attachment 8;
AND THAT an Assessment Growth Reserve Fund, Community Improvement Plans (CIPs) Reserve Fund, Parks & Open Spaces Reserve Fund, and Solid Waste & Recycling Reserve Fund be created as detailed in this Report;
AND THAT By-law 220-2023 be amended by adding Schedules 52 to 57, as appended in Attachments 9 to 14;
AND THAT $500,000 be transferred from the Assessment Growth Reserve Fund to the CIPs Reserve Fund to provide initial funding for the Growth Community Improvement Plan;
AND THAT $180,700 be transferred to the Parks & Open Spaces Reserve Fund from the Land Development Account;
AND THAT all recommendations included within this report, be effective for the 2025 fiscal year;
AND THAT the amendment to By-law 220-2023 be presented to City Council for ratification.