Presentation
Presentation: Police Operating Reserve Requirement Forecast Update
September 12, 2023Pages 70–744 sections
Slide presentation detailing the financial modeling for future policing costs and reserve fund usage.
Projected cost increase: $850K to $1.04MEstimated reserve funding needed: $2.15M to $2.43M
Police Operating Reserve Requirement Forecast Update
COMMITTEE OF THE WHOLE
SEPTEMBER 12, 2023
Page 70–74
Police Operating Reserve
- + Planned contributions (from property taxes)
- + Surplus: positive difference between amount taxed and actual costs
- - Planned funding for operating costs (personnel or debt service)
- - Deficit: negative difference between amount taxed and actual costs
2023 Ending balance (projected) $2.1 million
Page 70–74
Questions
When?
2027 to 2039
How much?
- How much more will the RCMP contract cost? $850 K to $1.04 M
- How much revenue would a 1% tax increase provide? $146 K to $193 K
- How much reserve funding is needed? $2.15 M to $2.43 M
Page 70–74
Conclusion
- Current level in Police Operating Reserve appears likely to be sufficient to support a phased tax increase
- Consider allocating future contributions to Police Operating Reserve to support significant capital costs
Recommendation
- Receive the report
- Confirm current practice of contributing surplus attributable to policing services to the Police Operating Reserve
- Refer consideration of annual contributions to the Police Operating Reserve to budget discussions
Page 70–74
Extracted from: 2023 09 12 Committee of the Whole Agenda - Agenda - Pdf