COW-17-20GeneralActiveFollow Matter

Adoption of revised Policy No. 1600-020 - Reserves and Surplus

First seen: November 10, 2020

Last seen: November 10, 2020

Lifecycle Timeline

November 10, 2020Council

Financial Policies Review

Council recommended adopting revised financial policy 1600-020 to allow more flexibility in how Community Amenity Contributions (CACs) are managed and allocated in reserve funds.

"Discussion centered on ensuring maximum latitude for Council to spend future CAC funds where needed, including potentially prioritizing investments in the geographic areas where the contributing development occurs (North View Royal). Staff confirmed the revised policy allows this flexibility."

Staff Financial Policies Review - Finance and Administration Report AppendREVISED POLICY No. 1600-020: Reserves and Surplus AppendReserves and Surplus Policy Appendix A

Formal MotionPassed

0:00

"THAT the Committee recommend that Council adopt revised Policy No. 1600-020 - Reserves and Surplus."

Moved by: John Rogers

Seconded by: Damian Kowalewich

David Screech

John Rogers

Damian Kowalewich

Ron Mattson

Gery Lemon