BYLAW - Allocate 2012 Op Water WW Op Fund Surplus Deficit - 20121218 - 547612THE CORPORATION OF THE TOWN OF AURORA
By-law Number 5476-12
BEING A BY-LAW to allocate
any 2012 Operating Fund
surplus and any 2012 Water
and Wastewater Operating
Fund surplus or deficit.
WHEREAS paragraph 290(4)(b) of the Municipal Act, 2001, S.O. 2001, c. 25, as
amended (hereinafter the "Act"), 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 290(4)(c) of the 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 290(4)(g) of the 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 (the "Town")
deems it necessary and expedient to control the 2012 Operating Fund surplus or
deficit as may arise;
AND WHEREAS the Council of the Town deems it necessary and expedient to
control the 2012 Water and Wastewater Operating Fund surplus or deficit as may
arise;
AND WHEREAS the Council of the Town adopted the recommendations and
controls contained in Report No. CFS12-048 with respect to the 2012 Operating
Fund surplus and the 2012 Water and Wastewater Operating Fund surplus or deficit
at the Council meeting of December 18, 2012;
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. CFS12-048 by re -allocating an
amount or amounts from any 2012 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) Landscape Fee Reserve;
(g) Legal Fees Reserve;
(h) Engineering Fees Reserve;
(i) Building Department Fees Reserve;
0) Water & Sewer Reserve Fund;
(k) Storm Sewers Reserve Fund; and
(1) Tax Rate Stabilization Reserve Fund;
By-law Number 5476-12 Page 2 of 2
2. THAT the Treasurer and the Chief Administrative Officer are hereby
authorized to allocate any 2012 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 2012 Water and Wastewater Operating Fund
surplus, net of any approved budget carry forwards, from the 2012 Water
and Wastewater Operating Fund surplus to the Water and Sewer capital
reserve funds in accordance with Report No. CFS12-048.
4. THAT the Treasurer and the Chief Administrative Officer are hereby
authorized to fund any 2012 Water and Wastewater Operating Fund deficit
from the Water and Sewer capital reserve funds in accordance with Report
No. CFS12-048.
5. THAT the Treasurer and the Chief Administrative Officer shall report to
Council on all amounts allocated as authorized by this By-law at the time
when the 2012 annual statements are presented to Council or a Committee
of Council
6. 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 18`r' DAY OF DECEMBER, 2012.
READ A THIRD TIME AND FINALLY PASSED THIS 18th DAY OF DECEMBER,
2012.
Ayprovedas to form
By/tI¢VAalServlces
Date:% 14. 201'L