Regional Municipality of Wood Buffalo

Report

2018 Operating Budget, 2019 - 2020 Financial Plan

Information

Department:Office of Chief Financial OfficerSponsors:
Category:Report

Body

1.     THAT the 2018 Operating Budget, in the amount of $770,092,345, excluding the Communications and Stakeholder Relations Department be approved, representing $428,560,398 for Municipal operations, $65,000,000 for undrawn debt reduction, $600,000 as a transfer to the Emerging Issues Reserve and $275,931,947 as a transfer to the Capital Infrastructure Reserve be approved.

2.     THAT the 2018 Operating Budget be amended to add $4,563,382 for the Communications and Stakeholder Relations Department.

3.     THAT the 2019 – 2020 Financial Plan in the amount of $756,551,902 and $737,783,424 respectively, with funding transfers to the Capital Infrastructure Reserve of $251,359,873 and $227,737,873 respectively and $60,000,000 per year for undrawn debt reduction, be used as the basis for the development of the respective subsequent budgets.

Meeting History

Feb 27, 2018 6:00 PM Video Council Meeting

Elsie Hutton, Chief Financial Officer and Linda Ollivier, Director, Financial Services, provide a presentation relative to the 2018 Budget and Plan.

Corinna Pirie on behalf of the Wood Buffalo Regional Library spoke to the decrease in the Library budget. Melissa Flett, Director, Fort McMurray Library spoke to unrestricted surplus.

Roy Amalu, Chair, Library Board, spoke to the concern of the budget process and reduction of library budget.

David Amona, resident, spoke to the concern of transparency in the 2018 budget process.

Bryce Kumka, President, Fort McMurray Chamber of Commerce, and questioned if the reductions are enough and supports reduction in spending.

RESULT:CARRIED [UNANIMOUS]
MOVER:Jeff Peddle, Councillor
SECONDER:Krista Balsom, Councillor
FOR:Don Scott, Krista Balsom, Bruce Inglis, Sheila Lalonde, Phil Meagher, Verna Murphy, Jeff Peddle, Jane Stroud, Claris Voyageur
ABSENT:Mike Allen, Keith McGrath