BYLAW - 2010 Operating Water Wastewater Fund Surplus Deficit - 20101214 - 528710THE CORPORATION OF THE TOWN OF AURORA
Byelaw Number 5287-10
BEING A BY --LAW to allocate any
2010 Operating Fund surplus and
any 2010 Water and Wastewater
Operating Fund surplus or deficit.
WHEREAS section 290(4)(b) of the Municipal Act, 2001, S.O. 2001, c, 25, as
amended (hereinafter the"Municipal Acts), provides that in preparing the budget for
a year, the local municipality shall treat as estimated revenues any surplus of any
previous year; -
AND WHEREAS section 290(4)(c) of the Municipal Act provides that in preparing
the budgetfor a year, the local municipality shall provide for any deficit of any
previous year
AND WHEREAS section 290(4)(g) of the Municipal Act provides that in preparing
the budget for a year, the local municipality may provide for such reserve funds as
the municipality considers necessary;
AND WHEREAS the Council of The Corporation of the Town of Aurora deems it
necessary and expedient to control the 2010 Operating Fund surplus;
AND WHEREAS the Council of The Corporation of the Town of Aurora deems it
necessary and expedient to control the 2010 Water and Wastewater Operating
Fund surplus or deficit;
AND WHEREAS the Council of The Corporation of the Town of Aurora adopted the
recommendations and controls contained'in Report No. CFS10-035 with respect to
the 2010 Operating Fund surplus and the 2010 Water and Wastewater Operating
Fund surplus or deficit at the Council meeting of December 14, 2010;
NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE TOWN OF
AURORA ENACTS AS FOLLOWS;
1. THAT the Treasurer and the Chief Administrative Officer are hereby
authorized to make the adjustments and allocations in accordance with the
approved resolutions arising from Report No. CFS10-035 by re -allocating an
amount or amounts from any 2010 Operating Fund surplus to one or more of ,
the following reserve funds and/or reserve accounts:
(a) WSIB°Reserve;
(b) Arts and Cultural Reserve Fund;
(c) Aurora Hydro Sale Investment Reserve Fund;
(d) Parks Development and Facilities Development Charges Reserve
Fund;
(e) Storm Sewers Reserve Fund;
(f) Landscape Fee Reserve;
(g) Engineering Fees Reserve;
(h) Building Department Fees Reserve;
(i) Heron Annuity for IES & Parks Reserve Fund;
0) Tax Rate Stabilization Reserve Fund; and
(k) Municipal Capital Reserve Fund
2. THAT the Treasurer and the Chief Administrative Officer are hereby
authorized to allocate any 2010 Water and Wastewater Operating Fund
surplus, net of any approved budget carry forwards, from the 20'10 Water
and Wastewater Operating Fund surplus to the Water. and Sewer Capital
Reserve Fund in accordance with Report No. CFS10-035.
3. THAT the Treasurer and the Chief Administrative Officer are hereby
authorized to carry-over any 2010 Water and Wastewater Operating Fund
deficit into the 2011 Water and Wastewater Operating Fund budget for
funding.
4. THAT the Treasurer and the Chief Administrative Officer shall report to
Council on the amounts allocated to the Water and. Sewer Capital Reserve
Fund or carried over to the 2011 Water and Wastewater Operating Fund
budget, at the time when the 2010 annual statements are presented to
Council or a Committee of Council.
5. THAT the Treasurer and Chief Administrative Officer shall report to Council
on the 2010 Operating Fund surplus allocated to a reserve fund or account
when the 2010 annual statements are presented to Council or a Committee
of Council. .
READ A FIRST AND SECOND TIME THIS 10 DAY OF DECEMBER, 2010.
READ A THIRD TIME AND FINALLY PASSED THIS 141h DAY OF DECEMBER,
2010.
i G
oO FREY bAWE, MAYOR
AV
JOHN ACI, TOWN CLERK
F
Approve as to5wx
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