BYLAW - Allocate 2011 Op Fund Water Wastewater Op Fund Surplus - 20111213 - 538611r
THE CORPORATION OF THE TOWN OF AURORA
By-law Number 5389-11
BEING A BY-LAW to allocate
any ' 2011 Operating. Fund
surplus and any 2011 Water.
and Wastewater Operating
Fund surplus or deficit.
WHEREAS paragraph (b) of subsection 290(4) of the Municipal Act, 2001, S.O.
2001, c. 25, as amended (hereinafter the "MunicipalAcr), 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 paragraph (c) of subsection 290(4) of the Municipal Act provides
that in preparing the budget for a year, the local municipality shall provide for any
deficit of any previous year;
AND WHEREAS paragraph (g) of subsection 290(4) 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 2011 Operating Fund surplus or deficit as
may arise;
AND WHEREAS the Council of The Corporation of the Town of Aurora deems it
necessary and expedient to control the 2011 Water and Wastewater Operating
Fund surplus or deficit as may arise;
AND WHEREAS the Council of The Corporation of the Town of Aurora adopted the
recommendations and controls contained in Report No. CFS11-030 with respect to
the 2011 Operating Fund surplus and the 2011 Water and Wastewater Operating
Fund surplus or deficit at the Council meeting of December 13, 2011;
NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE TOWN OF
AURORA ENACTS AS FOLLOWS:
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. CFS11-030 by re -allocating an
amount or amounts from any 2011 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) Parks Development and Facilities Development Charges Reserve
Fund;
(d) General Government Development Charges Reserve Fund;
(e) Indoor Recreation Development Charges Reserve Fund;
(f) Storm Sewers Reserve Fund;
(g) Landscape Fee Reserve;
(h) Legal Fees Reserve;
(1) Engineering Fees Reserve;
0) Building Department Fees Reserve;
(k) Water & Sewer Reserve Fund; and
(1) Tax Rate Stabilization Reserve Fund;
By -Law Number 5389-11
Page 2 of 2
2. THAT the Treasurer and the Chief Administrative Officer are hereby
authorized to allocate any 2011 Operating Fund deficit,from the appropriate
stabilization reserve funds of the Town.
3. THAT the Treasurer and the Chief Administrative Officer are hereby
authorized to allocate any 2011 Water and Wastewater Operating Fund
surplus, net of any approved budget carry forwards, from the 2011 Water
and Wastewater Operating Fund surplus to the Water and Sewer capital
reserve funds in accordance with Report No. CFS11-030.
4. THAT the Treasurer and the Chief Administrative Officer are hereby
authorized to fund any 2011 Water and Wastewater Operating Fund deficit
from the Water and Sewer capital reserve funds in accordance with Report
No. CFS11-030.
5. THAT the Treasurer and the Chief Administrative Officer shall report ,to
Council on the amounts allocated to or from the Water and Sewer capital
reserve funds at the time when the 2011 annual statements are presented to
Council or a Committee of Council.
6. THAT the Treasurer and Chief Administrative Officer shall report to Council
on the 2011 Operating Fund surplus allocated to a reserve fund or account
when the 2011 annual statements are presented to Council or a Committee
of Council
7. THAT this By-law shall come into full force and effect on. the date of final
passage hereof.
READ A FIRST AND SECOND TIME THIS 13th DAY OF DECEMBER, 2011.
READ A THIRD TIME AND FINALLY PASSED THIS 13m DAY OF DECEMBER,
2011.
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