By-law - Allocate 2023 Operating Fund and Water Wastewater Stormwater Operating Fund Surplus or Deficit - 20240528 - 6606-24The Corporation of the Town of Aurora
By-law Number 6606-24
Being a By-law to allocate any 2023 0perating Fund surplus and any 2023
Water, Wastewater, and Stormwater Operating Fund surplus or deficit.
Whereas paragraph 290(4)(b) of the MunicipalAct, 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 paragraph 11 (2)(3) of the Act provides that municipalities may pass by-
laws respecting the financial management of the municipality and its local boards;
And whereas the Council of The Corporation of the Town of Aurora (the "Townl') deems
it necessary and expedient to control the 2023 0perating Fund surplus or deficit as it
may arise;
And whereas the Council of the Town deems it necessary and expedient to control the
2023 0perating Fund surplus for the Aurora Public Library as it may arise;
And whereas the Council of the Town deems it necessary and expedient to control the
2023 Water, Wastewater, and Stormwater 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. F1N23-041 with respect to the 2023 0perating Fund surplus and
the 2023 Water, Wastewater, and Stormwater Operating Fund surplus or deficit at the
Council meeting of November 28, 2023;
Now therefore the Council of The Corporation of the Town of Aurora hereby enacts as
follows:
1.The Treasurer is hereby authorized to make the adjustments and allocations in
accordance with the approved resolutions arising from Report No. F1N23-041 by
re-allocating an amount or amounts from any 2023 0perating Fund surplus to
one or more of the reserve funds of the Town.
2.The Treasurer is hereby authorized to allocate any 2023 0perating Fund deficit
from the appropriate stabilization reserve funds of the Town.
3.The Treasurer is hereby authorized to allocate any 2023 Water, Wastewater, and
Stormwater Operating Fund surplus, net of any approved budget carry forwards,
to the Water and Sewer capital reserve funds in accordance with Report No.
FIN23-041 .
4.The Treasurer is hereby authorized to fund any 2023 Water, Wastewater, and
Stormwater Operating Fund deficit from the Water, Wastewater, and Stormwater
By-law Number 6606-24
capital reserve funds in accordance with Report No. FIN23-041.
Page 2 of 2
The Treasurer shall report to Council on all amounts allocated as authorized by
this By-law, either before or at the time when the 2023 annual statements are
presented to Council or a Committee of Council.
Enacted by Town of Aurora Council this 28th day of May, 2024.
Michael de ond. Town Clerk