Item No. 8.8
Council Report: C 65/2020
Subject: 2019 Year-End Operating Budget Variance Report - City Wide
Reference:
- Date to Council: May 4, 2020
- Author: Mark Spizzirri
- Manager of Operating Budget Control & Financial Administration
- 519-255-6100 ext. 6324
- mspizzirri@citywindsor.ca
- Financial Planning
- Report Date: 3/31/2020
- Clerk’s File #: AFB/13467
To: Mayor and Members of City Council
Recommendation:
THAT Council RECEIVE FOR INFORMATION the 2019 Year-End Operating Budget Variance Report, dated March 31st, 2020; and,
THAT the final 2019 Operating Budget surplus of $1,954,982 BE TRANSFERRED to the Budget Stabilization Reserve (transfer of $1,454,982) and as previously directed by City Council to the Transit Windsor Garage Feasibility Study (transfer of $250,000) and the Electric Vehicle Charging Pilot Project (transfer of $250,000); and,
THAT in order to avoid the need to re-budget for various items, Council APPROVE $2,229,461 in budget carryovers as detailed in Appendix C: 2019 Budget Carry-Forwards; and,
THAT Council APPROVE the balancing of and transfers from Capital Projects, as detailed in Appendix D: 2019 Capital Closeouts; and,
THAT Council APPROVE the attached Development Charges 2019 Income Statement Schedule (Appendix E); and,
THAT Council APPROVE the attached Development Charge Reserve Fund Statement – Listing of Credits (Appendix F); and,
THAT Council APPROVE the establishment of a new reserve account, titled the Flood Protection Education Program; and,
THAT in order to address future Social or Affordable Housing funding pressures, the City Treasurer BE AUTHORIZED at this discretion as part of the year-end process, to transfer any year end surplus occurring in the Housing Services budget and/or any reconciled year end surplus in the Windsor-Essex Community Housing Corporation’s