10.Administrative Recommendations Finalized	01/04/21 – 01/15/21
11.Recommended Budget Documents Prepared	01/18/21 – 02/05/21
12.Recommended Budget Tabled with Council / Public	02/08/21 – 02/19/21
13.Recommended Budget Deliberated by Council	02/22/21 – 02/26/21

As a result of pursuing Phase 2 Safe Restart funding, February 26th, rather than January 29th, is the revised date for budget deliberations. It is noted that while the delayed timelines for completion of the 2021 budget may not appear ideal it may provide an opportunity to get further clarity from the senior levels of governments relative to any financial relief programs that will be provided to municipalities in 2021. As has been noted in the past, the financial impacts of the pandemic will not end in 2020 and will carry over into 2021 and beyond. As all municipalities are faced with the development of budgets for 2021 they face similar challenges in understanding what, if any, financial relief programs will be available to assist them to cover those one time and longer term financial impacts they face. Recent feedback from the Ontario Regional Single Tier Treasurer’s group indicated that many other municipalities are also considering delaying their 2021 Budget timelines due to the uncertainty of any supplemental funding for 2021 COVID related financial impacts. Failure to have certainty regarding any 2021 relief funding from the Province will make the 2021 budget development process extremely challenging for municipalities as such, several municipalities are expressing concern to the Minister of Finance during the Provincial Budget consultations currently underway to address this issue as soon as possible.

Risk Analysis:

As stated in this report there is a risk that the City, despite all efforts to support the unique situations of the tunnel and airport losses, may not be awarded any funding under Phase 2 of the Safe Restart municipal relief funding.

There is a risk that the Safe Restart program is the only means in which the losses for City’s tunnel and airport can be considered for funding support. As such, while putting forward a submission is demanding and resulting in a slight change in the 2021 budget timelines, not submitting would mean losing an opportunity to bring forward a request for funding.

Climate Change Risks:

Financial Matters:

There is no financial cost to submitting for Phase 2 funding.