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Corporate Services Report -
Financial Services 2016-04 dated January 13, 2016 regarding Final Approval
of the 2016 Operating and Capital Budgets.
The
Commissioner of Corporate Services and the Director of Financial
Services/Treasurer recommend:
a)
THAT Corporate Services Report - Financial Services 2016-04 dated January
13, 2016 regarding Final Approval of the 2016 Operating and Capital Budgets
be received and the following recommendations be adopted:
i)
THAT the proposed 2016 Operating Budget with expenditures of $114,958,363
be approved, which is comprised of the following components:
a.
$60,877,083 for the Town portion, which includes an additional $424,583 for
asset replacement funding (ARF) but excludes the advertising expense;
i.
AND $262,711 for advertising in the Town portion for a total of
$61,139,794;
b.
$9,000 for the Newmarket Downtown Business Development Area (BIA) which
excludes the advertising expense;
i.
AND $21,000 advertising in the BIA for a total of $30,000;
c.
$2,334,888 for the Building portion;
d.
$3,877,781 for the Library portion which excludes the advertising expense;
i.
AND $17,700 for advertising in the Library portion for a total of
$3,895,481;
e.
$14,595,632 for Central York Fire Services (Newmarket’s share);
f.
$32,962,568 for the Water and Wastewater Rate Groups which includes an
additional $488,395 for asset replacement funding;
ii)
AND THAT the proposed 2016 Capital Budget with expenditures of $26,737,774
be approved.
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