BYLAW - Allocate 2016 Op Fund - Water WW Surplus Deficit - 20161213 - 592816THE CORPORATION OF THE TOWN OF AURORA
By-law Number 5928-16
BEING A BY-LAW to allocate
any 2016 Operating Fund
surplus and any 2016 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 (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 2016 Operating Fund surplus or
deficit as it may arise;
AND WHEREAS the Council of the Town deems it necessary and expedient to
control the 2016 Water and Wastewater Operating Fund surplus or deficit as it may
arise;
AND WHEREAS the Council of the Town adopted the recommendations and
controls contained in Report No. FS16-038 with respect to the 2016 Operating Fund
surplus and the 2016 Water and Wastewater Operating Fund surplus or deficit at the
Council meeting of December 13, 2016;
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. FS16-038 by re -allocating an
amount or amounts from any 2016 Operating Fund surplus to one or more of
the reserve funds of the Town.
2. THAT the Treasurer and the Chief Administrative Officer are hereby
authorized to allocate any 2016 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 2016 Water and Wastewater Operating Fund
surplus, net of any approved budget carry forwards, to the Water and Sewer
capital reserve funds in accordance with Report No. FS16-038.
4. THAT the Treasurer and the Chief Administrative Officer are hereby
authorized to fund any 2016 Water and Wastewater Operating Fund deficit
from the Water and Sewer capital reserve funds in accordance with Report
No. FS16-038.
5. THAT the Treasurer and the Chief Administrative Officer shall report to
Council on all amounts allocated as authorized by this By-law, either before or
at the time when the 2016 annual statements are presented to Council or a
Committee of Council.
6. THAT the provisions of this By-law shall come into full force and effect on the
By-law Number 5928-16 Page 2 of 2
date of final passage hereof.
READ A FIRST AND SECOND TIME THIS 13t" DAY OF DECEMBER, 2016.
READ A THIRD TIME AND FINALLY PASSED THIS 13t" DAY OF DECEMBER,
2016.
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LISA L NS, TOWN CLERK