2. That the presentation provided by the Director of Financial Services/Treasurer and the Manager of Accounting & Finance regarding the Draft 2021 Operating and Capital Budgets be received; and,
3. That the report entitled Draft 2021 Operating and Capital Budgets dated December 7, 2020 be received; and,
4. That the COVID-19 contingency fund contribution be increased to 0.8%, primarily through the use of anticipated savings and revenue from REV it Up initiatives, while maintaining the overall tax levy increase of 1.98% and in doing so, not impact service levels and continue to preserve fiscal sustainability; and,
5. That the Draft 2021 Operating Budget with expenditures of $137,020,270 be approved, which is comprised of the following components:
- $68,956,971 for Town purposes, including a $500,000 Contingency
- $17,322,399 for Central York Fire Services (Newmarket’s share)
- $3,690,895 for the Newmarket Public Library
- $30,000 for the Main Street District Business Improvement Area (BIA)
- $19,646,000 for the Water Rate Group
- $22,164,000 for the Wastewater Rate Group
- $2,410,960 for the Stormwater Rate Group
- $2,799,045 for the Building Permit Rate Group
6. That a Capital Spending Authority of $42,400,000 be established, being $37,900,000 for 2021 and $4,500,000 for 2022; and,
7. That costs for the COVID-19 pandemic outlined in this report in excess of the Contingency, be funded by the Rate Stabilization Reserve; and,
8. That staff be directed to prepare option for 2021 Financial Relief Measures to be presented to Council in January, 2021; and,
9. That the funding for support to local businesses be set as a range between $50,000 to $100,000; and,
10. That the draft 2021 Operating and Capital Budgets be forwarded to the Council meeting of December 14, 2020 for final approval; and
11. That Council authorize the Director of Financial Services/Treasurer to:
- Make any necessary adjustments within the total approved budget to reflect organizational changes and any other reallocation of costs.
- Accept and adjust the budget for new provincial and/or federal funding provided there is no tax levy impact; and,
12. That staff be authorized and directed to do all things necessary to give effect to this resolution.