Council Report: Financial Plan Bylaw No. 887, 2014, Amendment Bylaw No. 906, 2014
Staff report recommending amendments to the five-year financial plan to account for significant projects like the Hallowell Road rail crossing.
TOWN OF VIEW ROYAL COUNCIL REPORT
TO: Council DATE: October 1, 2014 FROM: Jeannie Beauchamp, Director of Finance MEETING DATE: October 7, 2014
FINANCIAL PLAN BYLAW NO. 887, 2014, AMENDMENT BYLAW NO. 906, 2014
RECOMMENDATION:
THAT the Town of View Royal Financial Plan Bylaw No. 887, 2014, Amendment Bylaw No. 906, 2014 be given first, second, and third readings.
CHIEF ADMINISTRATIVE OFFICER’S COMMENTS:
I concur with the recommendation.
PURPOSE OF REPORT:
To provide council with information regarding the Financial Plan Bylaw No. 887, 2014, Amendment Bylaw No. 906, 2014.
BACKGROUND DISCUSSION:
The 2014 budget was adopted by Council in May. The Community Charter allows the financial plan to be amended by bylaw at any time. Actual expenses and expenditures may not exceed that established in the financial plan. Each year Council approves a few small changes to the budget for unforeseen situations. The value of these changes rarely gives rise for the requirement of a financial plan bylaw amendment. For 2014, the value of the Hallowell Road Level Rail Crossing project, which the Town will be facilitating but not funding, is quite significant. As a result a 2014 financial plan bylaw amendment is required.
Financial Plan Bylaw No. 887, 2014, Amendment Bylaw No. 906, 2014 formalizes the authority for amendments already approved by Council.
RECOMMENDATION:
THAT the Town of View Royal Financial Plan Bylaw No. 887, 2014, Amendment Bylaw No. 906, 2014 be given first, second, and third readings.
SUBMITTED BY: J. Beauchamp, Director of Finance
REVIEWED BY: K. Anema, Chief Administrative Officer
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