TOWN OF VIEW ROYAL MINUTES OF A SPECIAL COMMITTEE OF THE WHOLE BUDGET MEETING HELD ON TUESDAY, FEBRUARY 25, 2020
Final minutes from the special budget meeting series where the property tax increase for 2020 was formally recommended.
TOWN OF VIEW ROYAL
MINUTES OF A SPECIAL COMMITTEE OF THE WHOLE BUDGET MEETING
HELD ON TUESDAY, FEBRUARY 25, 2020 VIEW ROYAL MUNICIPAL OFFICE – COUNCIL CHAMBERS
PRESENT WERE: Mayor Screech Councillor Kowalewich Councillor Lemon Councillor Rogers
REGRETS: Councillor Mattson
PRESENT ALSO: K. Anema, Chief Administrative Officer S. Jones, Director of Corporate Administration D. Christenson, Director of Finance L. Chase, Director of Development Services J. Rosenberg, Director of Engineering S. Vella, Manager of Accounting E. Bolster, Deputy Corporate Officer 0 members of the public 0 members of the press
1. CALL TO ORDER
Mayor Screech called the meeting to order at 6:31 p.m.
2. APPROVAL OF AGENDA
MOVED BY: Councillor Rogers SECONDED: Councillor Lemon
THAT the agenda be approved as presented. CARRIED
3. REPORTS
a) 2020-2024 Five Year Financial Plan Deliberations
1. Summary from February 20, 2020 meeting
The Director of Finance provided a summary from the February 20, 2020 Council meeting discussion noting the budget has been decreased by $4,900 from this last meeting. The Director reviewed taxation change and projected tax revenue for 2020 and 2021; revenue contributions; comparatives of reserves per capita in the Capital Regional District and with other communities of a similar population across British Columbia; and the Town’s reserves policy – specifically the Future Expenditure and the Capital Renewal Reserves.
2. Continued 2020-2024 Financial Plan Deliberations
MOVED BY: Councillor Kowalewich SECONDED: Councillor Lemon
COW-06-20 THAT the Committee recommend to Council that staff prepare the 2020-2024 Financial Plan with a property tax increase not to exceed 2.9% for 2020 and between 2% and 3% for 2021 by reducing reserve contributions to the Future Expenditure reserve, and realigning contributions to that reserve and the Capital Renewal reserve with the target levels identified in “Policy 1600-020 – Reserves and Surplus”. CARRIED
The Director of Engineering noted that there was discussion at the November 2019 Committee of the Whole meeting regarding the request for traffic calming on Stormont Road near Island Highway that had been referred to the 2020 budget deliberations. The Committee discussed the various options and potential traffic changes that may come with the anticipated completion of the McKenzie Interchange Project.
MOVED BY: Councillor Kowalewich SECONDED: Councillor Lemon
COW-07-20 THAT the Committee recommend to Council that the 2020-2024 Financial Plan include an $8,000 allocation from the Casino reserve account for potential Stormont Road improvements pending further review and Council consideration in the fall of 2020. CARRIED
Committee members expressed appreciation for the Director of Finance’s work on the 2020-2024 Financial Plan.
4. TERMINATION
MOVED BY: Councillor Rogers SECONDED: Councillor Lemon
THAT this meeting terminate. Time: 7:15 p.m. CARRIED
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