Loading...
Agenda (Appointed) - Finance Advisory Committee - 20250121Town of Aurora Finance Advisory Committee Meeting Agenda Date:Tuesday, January 21, 2025 Time:5:45 p.m. Location:Holland Room, Aurora Town Hall Meetings are available to the public in person and via live stream on the Town’s YouTube channel. To participate, please visit aurora.ca/participation. Pages 1.Call to Order 1.1 Appointment of Committee Chair That a Committee member be appointed as Chair of the Finance Advisory Committee for a two-year term (2025-2026) . 1. 1.2 Appointment of Committee Vice Chair That a Committee member be appointed as Vice Chair of the Finance Advisory Committee for a two-year term (2025-2026) . 1. 2.Land Acknowledgement 3.Approval of the Agenda 4.Declarations of Pecuniary Interest and General Nature Thereof 5.Receipt of the Minutes 5.1 Finance Advisory Committee Meeting Minutes of October 8, 2024 1 That the Finance Advisory Committee Meeting Minutes of October 8, 2024, be received for information. 1. 6.Delegations 7.Matters for Consideration 7.1 Memorandum from Manager, Financial Reporting and Revenue; Re: 2024 Audit Planning Report 4 (Presentation to be provided by Maria Khoushnood, Lead Audit Engagement Partner, and Andrew Grossi, Audit Senior Manager, KPMG) That the memorandum regarding 2024 Audit Planning Report be received; and 1. That the Finance Advisory Committee comments regarding 2024 Audit Planning Report be received and referred to staff for consideration and further action as appropriate. 2. 7.2 Memorandum from Senior Advisor, Financial Management; Re: Line by Line Budget Review of Operational Services 53 (Deferred from Finance Advisory Committee meeting of October 8, 2024) Note: An updated Operational Services Line by Line Budget Review has been added as Attachment 2. That the memorandum regarding Line by Line Budget Review of Operational Services be received; and 1. That the Finance Advisory Committee comments regarding Line by Line Budget Review of Operational Services be received and referred to staff for consideration and further action as appropriate. 2. 7.3 Memorandum from Manager, Financial Management; Re: 2025 Finance Advisory Committee Workplan 74 That the memorandum regarding 2025 Finance Advisory Committee Workplan be received; and 1. That the Finance Advisory Committee comments regarding 2025 Finance Advisory Committee Workplan be received and referred to staff for consideration and further action as appropriate. 2. 8.New Business 9.Adjournment Town of Aurora Finance Advisory Committee Meeting Minutes Date: Time: Location: Tuesday, October 8, 2024 5:45 p.m. Holland Room, Aurora Town Hall Committee Members: Mayor Tom Mrakas (Chair) Councillor Michael Thompson Councillor Ron Weese Other Attendees: Rachel Wainwright-van Kessel, Director, Finance Jason Gaertner, Manager, Financial Management Emily Freitas, Council/Committee Coordinator _____________________________________________________________________ 1. Call to Order The Chair called the meeting to order at 5:45 p.m. 2. Land Acknowledgement The Committee acknowledged that the meeting took place on Anishinaabe lands, the traditional and treaty territory of the Chippewas of Georgina Island, recognizing the many other Nations whose presence here continues to this day, the special relationship the Chippewas have with the lands and waters of this territory, and that Aurora has shared responsibility for the stewardship of these lands and waters. It was noted that Aurora is part of the treaty lands of the Mississaugas and Chippewas, recognized through Treaty #13 and the Williams Treaties of 1923. 3. Approval of the Agenda Moved by Councillor Thompson Seconded by Councillor Weese Page 1 of 76 Finance Advisory Committee Meeting Minutes Tuesday, October 8, 2024 2 That the agenda as circulated by Legislative Services be approved. 4. Declarations of Pecuniary Interest and General Nature Thereof There were no declarations of pecuniary interest under the Municipal Conflict of Interest Act, R.S.O. 1990, c. M.50. 5. Receipt of the Minutes 5.1 Finance Advisory Committee Meeting Minutes of September 10, 2024 Moved by Councillor Weese Seconded by Councillor Thompson 1. That the Finance Advisory Committee Meeting Minutes of September 10, 2024, be received for information. Carried 6. Delegations None. 7. Matters for Consideration 7.1 Memorandum from Financial Management Senior Advisor; Re: Line by Line Budget Review of Operational Services Moved by Councillor Thompson Seconded by Councillor Weese That the Memorandum from Financial Management Senior Advisor; Re: Line by Line Budget Review of Operational Services be deferred to a future Finance Advisory Committee meeting. Motion to defer Carried Page 2 of 76 Finance Advisory Committee Meeting Minutes Tuesday, October 8, 2024 3 8. New Business None. 9. Adjournment The meeting was adjourned at 5:47 p.m. Page 3 of 76 100 John West Way Aurora, Ontario L4G 6J1 (905) 727-3123 aurora.ca Town of Aurora Memorandum Finance Re: 2024 Audit Planning Report To: Finance Advisory Committee From: Elizabeth Adams-Quattrociocchi, Manager, Financial Reporting and Revenue Date: January 21, 2025 Recommendation 1. That the memorandum regarding 2024 Audit Planning Report be received; and 2. That the Finance Advisory Committee comments regarding 2024 Audit Planning Report be received and referred to staff for consideration and further action as appropriate. Background As part of the Town’s annual external financial audit, the Finance Advisory Committee is required to review the audit planning report prior to the commencement of the external audit work. The 2024 external audit is planned to commence April 21, 2025. The attached audit planning report has been prepared by the Town’s external auditor, KPMG LLP. Attachments 1. 2024 Aurora Audit Planning Report Page 4 of 76 1© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. The Corporation of The Town of AuroraAudit Planning Reportfor the year ending December 31, 2024Licensed Public AccountantsPrepared on November 19, 2024 for presentation on January 21, 2025kpmg.ca/auditAttachment 1Page 5 of 76 2© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. KPMG contactsKey contacts in connection with this engagementMaria KhoushnoodLead Audit Engagement Partner416-228-7082mkhoushnood@kpmg.caAndrew GrossiAudit Senior Manager416-549-7944agrossi@kpmg.caPage 6 of 76 3© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Table of contentsDigital use informationThis Audit Planning Report is also available as a “hyper-linked” PDF document. If you are reading in electronic form (e.g. In “Adobe Reader” or “Board Books”), clicking on the home symbol on the top right corner will bring you back to this slide. Click on any item in the table of contents to navigate to that section.The purpose of this report is to assist you, as a member of the Audit Committee, in your review of the plan for our audit of the financial statements. This report is intended solely for the information and use of Management, the Audit Committee, and Town Council and should not be used for any other purpose or any other party. KPMG shall have no responsibility or liability for loss or damages or claims, if any, to or by any third party as this report to the Audit Committee has not been prepared for, and is not intended for, and should not be used by, any third party or for any other purpose.4Highlights10Group audit -Scoping21Appendices19Key milestones and deliverables6Audit strategy11Risk assessment20Audit QualityPage 7 of 76 4© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Audit highlightsMatters to report –see link for detailsNo matters to reportScopeOur audit of the consolidated financial statements (“financial statements”) of the Corporation of the Town of Aurora (“the Town”) as of and for the year ended December 31, 2024 will be performed in accordance with Canadian generally accepted auditing standards (CAS).Other risks of material misstatementRisk assessment Presumption of the risk of fraud involving improper revenue recognitionAudit strategyInvolvement of othersMaterialityGroup: $3.3 millionNon-consolidated Town: $3.14 million Updates to our prior year audit plan Risk of management override of controls•Cash, investments and debt•Tangible capital assets•Revenue•Deferred revenues –obligatory reserve funds•Employee future benefits (EFBs)•Expenses –salaries and benefits•Accounts payable, accrued liabilities and expenses•Contingencies•ConsolidationHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 8 of 76 5© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Updates to our prior year audit plan New significant risksRefer to Appendix C for new standards impacting the fiscal 2024 audit.Newly effective auditing standardsNewly effective auditing standardsOther significant changesAssess the impact to the financial statements and related disclosures for the changes to accounting standards effective 2024. Refer to Appendix B for new standards impacting the fiscal 2024 audit and for future changes in accounting standards.Newly effective accounting standardsNo new significant financial reporting risks identified.Newly effective accounting standardsHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 9 of 76 6© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. MaterialityWe initially determine materialityto provide a basis for: •Determining the nature, timing and extent of risk assessment procedures;•Identifying and assessing the risks of material misstatement; and •Determining the nature, timing, and extent of further audit procedures.We design our procedures to detect misstatements at a level less than materiality in individual accounts and disclosures, to reduce to an appropriately low level the probability that the aggregate of uncorrected and undetected misstatements exceeds materiality for the financial statements as a whole. We also use materiality to evaluate the effect of:•Identified misstatements on our audit; and•Uncorrected misstatements, if any, on the financial statements and in forming our opinion.Weinitially determine materialityat a level at which we consider thatmisstatements could reasonably be expected to influence theeconomic decisions of users. Determining materiality is a matter ofprofessional judgement,considering both quantitative and qualitativefactors, and is affected by our perception of the common financialinformation needs of users of the financial statements as a group. Wedo not consider the possible effect of misstatements on specificindividual users, whose needs may vary widely.Wereassess materialitythroughout the audit and revise materiality ifwe become aware of information that would have caused us todetermine a different materiality level initially.Plan and perform the auditEvaluate the effect of misstatementsHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 10 of 76 7© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Initial Group MaterialityTotal Forecasted Revenues$134 million(2023 actual: $157 million)2.50%2.50%Prior yearCurrent year% of Benchmark (revenues)Group Materiality$3.3 million(2023: $3.35 million)Group Performance Materiality$2.47 million(2023: $2.51 million)Group Audit Misstatement Posting Threshold$165K(2023: $167K)HighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 11 of 76 8© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Initial Component Materiality: Non-consolidated TownNon-consolidated Town Component Performance Materiality$2.35 million(2023: $2.4 million)Non-consolidated Town Component Audit Misstatement Posting Threshold$157K(2023: $160K)Non-consolidated Town ComponentMateriality$3.14 million(2023: $3.2 million)HighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 12 of 76 9© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Involved party Nature and extent of planned involvementManagement’s specialist •Management uses actuary for valuation of employee future benefit obligations. KPMG has decided to validate the report provided by the actuary and involve internal pension actuarial specialist for the same.KPMG professionals with specialized skill or knowledge who are involved in performance of audit proceduresActuarial Specialist –Employee Future Benefits:•The employee future benefits liability is a significant accounting estimate and management relies on an actuary for the valuation of its employee future benefits. We will use an employed KPMG specialist throughout the audit cycle in assessing the assumptions and estimates used in the funding valuation and year end extrapolated accrued benefit liability.•Refer to audit approach under the employee future benefit area of focus.Involvement of othersThe following parties are involved in the audit of the financial statements:HighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 13 of 76 10© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Type of work performedTotal revenue Total assetsTotal in-scope audits97% 99%Total: In-scope audit, audit of account balance(s) and/or disclosure(s), specified audit procedures 97% 99%Not subject to further audit procedures (i.e., untested) (Note 1)3%1%Total consolidated100% 100%Group audit -ScopingNote 1: The following components are not significant for the purpose of issuing the auditor’s opinion on the group audit of the consolidated financial statements of the Corporation of the Town of Aurora. We are engaged to perform standalone audits for these components for statutory reporting purposes:•Aurora Public Library Board•Aurora Business Improvement AssociationTotal revenueTotal assetsponents are not significant for the p rpose ofiss ing the a ditor’s opinion on the gro p a dito97%3%s99%1%HighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 14 of 76 11© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Risk assessment summaryOur planning begins with an assessment of risks of material misstatement in your financial statements. We draw upon our understanding of the Town and its environment (e.g. the sector, the wider economic environment in which the Town operates, etc.), our understanding of the Town’s components of its system of internal control, including our business process understanding.We use advanced technologies in performing our risk assessment procedures.Risk of fraudRisk of errorRisk levelzManagement override of controls9SignificantzPresumption of the risk of fraud involving improper revenue recognition99SignificantzCash, investments and debt9BasezTangible capital assets9BasezRevenue9BasezDeferred revenues –obligatory reserve funds9BasezEmployee future benefits (EFB)9BasezExpenses –salaries and benefits9BasezAccounts payable, accrued liabilities and expenses9BasezContingencies9BasezConsolidation 9BaseAdvanced technologieszPRESUMED RISK OF MATERIAL MISSTATEMENT zOTHER RISK OF MATERIAL MISTATEMENTOur KPMG Clara Dynamic Risk Assessment tool gives us a more sophisticated, forward-looking and multi-dimensional approach to assessing audit risk. nggggggggauauditdit Learn moreOurKPMG Clara Business Process Mining provides immediate visualization of how 100% of your transactions are processed to complement your process narratives & flow charts.rocess Learn moreKPMG Clara Account Analysis allows us to analyze the flow of transactions through your business to drive a more meaningful risk assessment.Learn moreKPMG Clara AI allows us to layer AI into our auditing platform, allowing us to scan 100% of your data and pull all of the risky transactions and anomalies out for further analysis.or ffurturtherher Learn moreThe Clara Asset Impairment Tool delivers advanced analysis of long-lived assets and goodwill impairment models (based on discounted cash flows) through the use of predictive analytics, enabling a more robust and independent challenge of management’s assumptions. gLearn moreAdvanced TechnologiesHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 15 of 76 12© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Significant risksManagement Override of Controls (non-rebuttable significant risk of material misstatement)RISK OFFRAUDWhy is it significant?Management is in a unique position to perpetrate fraud because of its ability to manipulate accounting records and prepare fraudulent financial statements by overriding controls that otherwise appear to be operating effectively. Although the level of risk of management override of controls will vary from entity to entity, the risk nevertheless is present in all entities.Our planned responseAs this presumed risk of material misstatement due to fraud is not rebuttable, our audit methodology incorporates the required procedures in professional standards to address this risk. These procedures include: •testing of journal entries and other adjustments•performing a retrospective review of estimates•evaluating the business rationale of significant unusual transactions.We will also:•evaluate the design and implementation and test operating effectiveness of selected relevant controls•take a risk-based approach tailored to the City when designing substantive procedures and selecting specific transactions for testing•continue to make use of technology to extract our risk-based sample from the entire population of journal entries•continue to identify areas which may be subject to additional risk whether due to fraud or error in this regard. Presumption of the risk of fraud resulting from management override of controlsOur KPMG Clara Journal Entry Analysis Toolassists in the performance of detailed journal entry testing based on engagement-specific risk identification and circumstances. Our tool provides auto-generated journal entry population statistics and focusses our audit effort on journal entries that are riskier in nature.Click to learn moreAdvanced technologiesHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 16 of 76 13© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Significant risksPresumption of the risk of fraud involving improper revenue recognitionRISK OFFRAUDWhy is it significant?This is a presumed risk of material misstatement due to fraud. This risk has not been rebutted. Audit standards require us to assume there are generally pressures/incentives on management to commit fraudulent financial reporting through inappropriate revenue recognition. The primary risk of fraudulent revenue recognition resides with manual journal entries for revenue transactions not in the normal course of business, specifically related to management’s calculation of the deferred revenue –obligatory reserve funds.Our planned responseOur audit methodology incorporates the required procedures in professional standards to address this risk. Our audit approach consists of evaluating the design and implementation and test operating effectiveness of selected relevant controls. We test journal entries that meet specific criteria. These criteria are designed during the planning phase of the audit and are based on areas and accounts that are susceptible to manipulation through management override and we design search filters that allow us to identify any unusual journal entries.The fraud risk from revenue recognition is limited to revenues recognized from deferred revenue –obligatory reserve funds.Presumption of the risk of fraud resulting from fraudulent revenue recognitionHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 17 of 76 14© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Other risks of material misstatementCash, investments and debtRisk of material misstatement due to valuation of investments and disclosures. •To assess any loss in value of the portfolio investments, and if such a decline is other than temporary. Perform audit procedures to assess whether a write-down is necessary.•Inspect year-end bank and investment reconciliations and substantive testing of significant reconciling items.•Substantive tests of details over additions and disposals of investments.•Obtain confirmations from third party financial institutions.•Review of long-term debt agreements•Complete valuation assessment for any financial instruments reported at fair value. •Evaluate financial statement note disclosures in accordance with Public Sector Accounting Standards (PSAS).Tangible capital assetsRisk of material misstatement related to existence and accuracy of tangible capital assets and accuracy of timing of revenue recognition, particularly related to funds intended for tangible capital assets additions and contributed assets.•Substantive tests of details over additions (including contributed tangible capital assets) and disposals.•Inspect amortization policy and perform recalculations.•Examine construction in progress to ensure amounts are properly transferred to correct capital asset classes and amortization expense commences on a timely basis.•Evaluate financial statement note disclosure in accordance with PSAS.•We will agree fair value estimates of contributed tangible capital assets to supporting third party documentation or as estimated by the Town; we will perform procedures to address the relevant auditing standards related to valuation estimates.•We will also perform required procedures to assess the potential risks with respect to impairment of assets. Based on the nature of the Town's operations, it is not expected that this will be a significant risk during the audit.Audit approachAreasRisk due to errorBaseBaseHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 18 of 76 15© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Other risks of material misstatementRevenueRisk of material misstatement related to the existence and completeness of revenue and accuracy of timing of revenue recognition(except revenue recognized from deferred revenue obligatory discussed on page 13 which is at significant risk level). •We will test the design and operating effectiveness of anti-fraud controls over the revenue process•We will review revenue recognition compliance•We will substantively vouch revenue transactions to invoices and supporting documents•We will perform analytical procedures over revenuesDeferred revenues –obligatory reserve fundsRisk of material misstatement due to management assessment and judgment involved.•Evaluate and test the design and operating effectiveness of selected controls over the initiation, authorization, processing, recording and reporting process activities.•Examine the City-prepared calculation of deferred revenue balance and vouch receipts and expenditures on a sample basis. As part of our testing, we ensure recognition of revenue is based on project spending in accordance with the purpose of the obligatory reserve.•Recalculation of interest allocation.•Inquire with management if there were any concessions given to developers and perform audit procedures on the financial reporting impact, if relevant.Audit approachAreasRisk due to errorBaseBaseHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 19 of 76 16© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Other risks of material misstatementEmployee future benefits (EFBs)Risk of material misstatement related to accuracy and valuation of the estimate involved in employee future benefits.Involvement of management’s third party expert, the actuary, as well as KPMG’s specialists.•Reliance on actuaries engaged by the Town; update our understanding of the activities over the quality of information used, the assumptions made, the qualifications, competence and objectivity of the preparer of the estimate, and the historical accuracy of the estimates.•Assess method, data, and assumptions used by the actuary and management in the calculation of the EFB liability for reasonableness.•We will perform audit procedures in accordance with the relevant auditing standards and related disclosure requirements for the estimates involved.•Communicate with actuaries and test HR data provided to the actuaries, as applicable.•Evaluate financial statement disclosures in accordance with PSAS.Expenses –salaries and benefitsRisk of material misstatement related to accuracy and occurrence of expenses.•Test and evaluate the design and operating effectiveness of selected controls over payroll.•Test of employment expenses for a sample of employees by verifying payroll records to HR contracts and collective agreements.•Substantive verification and recalculation of payroll-related accruals.•Obtain new or amended collective bargaining agreements. Assess if management has evaluated these agreements for implications of retroactive application. Such retroactive application can result in additional financial obligations for the Town that are required to be reported in the financial statements.Audit approachAreasRisk due to errorBaseBaseHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 20 of 76 17© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Other risks of material misstatementAccounts payable, accrued liabilities and expensesRisk of material misstatement related to completeness of liabilities, and accuracy and occurrence of expenses.•Test and evaluate the design and operating effectiveness of selected controls over payables and procurement cycle.•Perform a search for unrecorded liabilities.•Examine significant accrued liabilities for existence, accuracy and completeness.•Perform substantive tests of details on selected non-payroll expenditures.ContingenciesRisk of material misstatement related to completeness of contingencies and corresponding disclosures.•Inspect Council meeting minutes for potential contingencies.•Direct communication with internal legal counsel (and external as necessary) to ensure that all significant contingent liabilities are appropriately disclosed and/or recorded.•Significant findings assessment with management during planning and completion stages of the audit.Consolidation (Town and All Components)Risk of material misstatement related to the accuracy and completeness of intercompany eliminations and consolidation adjustments.•Perform consolidation procedures, as required, on the entities getting consolidated, including the Aurora Public Library.•Review the eliminating entries as prepared by management for accuracy and completeness.•Review financial statement note disclosures, including the information related to the components such as Town’s share of net income, dividends, etc.Audit approachAreasRisk due to errorBaseBaseBaseHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 21 of 76 18© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Required inquiries of the Audit CommitteeInquiries regarding risk assessment, including fraud risks• What are the Audit Committee’s views about fraud risks, including management override of controls, in the Town? And have you taken any actions to respond to any identified fraud risks?•Is the Audit Committee aware of, or has the Audit Committee identified, any instances of actual, suspected, or alleged fraud, including misconduct or unethical behavior related to financial reporting or misappropriation of assets? •If so, have the instances been appropriately addressed and how have they been addressed?•How does the Audit Committee exercise oversight of the Town’s fraud risks and the establishment of controls to address fraud risks?Inquires regarding related parties and significant unusual transactions•Is the Audit Committee aware of any instances where the Town entered into any significant unusual transactions? •What is the Audit Committee’s understanding of the Entities’ relationships and transactions with related parties that are significant to the Town?•Is the Audit Committee concerned about those relationships or transactions with related parties? If so, the substance of those concerns?•Is the Audit Committee aware of tips or complaints regarding the Town’s financial reporting (including those received through the Committee’s internal whistleblower program, if such programs exist)? If so, the Audit Committee’s responses to such tips and complaints?Inquiries regarding company processesHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 22 of 76 19© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Key milestones anddeliverables•Debrief prior year with management•Kick-off with management•Planning and initial risk assessment procedures, including:•Involvement of others•Identification and assessment of risks of misstatements and planned audit response for certain processes•Obtain and update an understanding of the Entity and its environment•Inquire of the Audit Committee, management and others within the Entity about risks of material misstatementOct 2024Planning & RiskAssessment• Evaluate the Entity’s components of internal control, other than the control activities component•Perform process walkthroughs for certain business processes•Identify process risk points for certain business processes•Complete initial risk assessment•Communicate audit plan•Identify IT applications and environmentsNov 2024Risk assessment & Interimwork•Perform process walkthroughs for business processes•Evaluate D&I of controls for remaining business processes•Complete interim data extraction and processing activities•Perform interim substantive audit procedures•Provide update on audit progressNov -Dec 2024Interimwork•Complete year-end data extraction and processing activities•Perform remaining substantive audit procedures•Evaluate results of audit procedures, including control deficiencies and audit misstatements identified•Assess financial statement disclosures•Present audit results to Council and perform required communications•Issue audit report on financial statements•Closing meeting with Board•Issue audit reports on financial statementsApr-June2025Final Fieldwork &ReportingHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 23 of 76 20© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. How do we deliver audit quality?Doing the right thing. Always.Quality essentially means doing the right thing and remains our highest priority. Our Global Quality Framework outlines how we deliver quality and how every partner and staff member contributes to its delivery.The drivers outlined in the framework are the ten components of the KPMG System of Quality Management (SoQM). Aligned with ISQM 1/CSQM 1, our SoQM components also meet the requirements of the International Code of Ethics for Professional Accountants (including International Independence Standards) issued by the International Ethics Standards Board for Accountants (IESBA) and the relevant rules of professional conduct / code of ethics applicable to the practice of public accounting in Canada, which apply to professional services firms that perform audits of financial statements. Our Transparency Report includes our firm’s Statement on the Effectiveness of our SoQM.We define ‘audit quality’ as being the outcome when:•audits are executed consistently, in line with the requirements and intent of applicable professional standardswithin a strong system of quality management; and •all of our related activities are undertaken in an environment of the utmost level of objectivity, independence, ethics andintegrity. KPMG Canada Transparency ReportHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 24 of 76 21© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. AppendicesDInsightsBNew accounting standardsCNew auditing standardsARegulatory communicationsFClimate riskETechnologyETechnologyGMunicipal Government Service OfferingsHUnleashing tomorrow- today with AIICyber SecurityJAudit TechnologyKContinuous EvolutionHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 25 of 76 22© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Appendix A: Regulatory communicationsCPAB communication protocolThe reports available through the following links were published by the Canadian Public Accountability Board to inform Audit Committees and other stakeholders about the results of quality inspections conducted over the past year:•CPAB Audit Quality Insights Report: 2022 Annual Inspections Results•CPAB Audit Quality Insights Report: 2023 Interim Inspections Results•CPAB Regulatory Oversight Report: 2023 Annual Inspections Results•CPAB Audit Quality Insights Report: 2024 Interim Inspections ResultsHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 26 of 76 23© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. AppendixB: Newaccounting standards(current)StandardSummary and implicationsRevenue•The new standard PS 3400 Revenue is effective for fiscal years beginning on or after April 1, 2023 (The Town’s December 31, 2024 year-end).•The new standard establishes a single framework to categorize revenue to enhance the consistency of revenue recognition and its measurement.•The standard notes that in the case of revenue arising from an exchange transaction, a public sector entity must ensure the recognition of revenue aligns with the satisfaction of related performanceobligations.•The standard notes that unilateral revenue arises when no performance obligations are present, and recognition occurs when there is authority to record the revenue and an event has happened that gives the public sector entity the right to therevenue.Purchased Intangibles•The new Public Sector Guideline 8 Purchased intangibles is effective for fiscal years beginning on or after April 1, 2023 with earlier adoption permitted (The Town’s December 31, 2024year-end).•The guideline allows public sector entities to recognize intangibles purchased through an exchange transaction. The definition of an asset, the general recognition criteria and GAAP hierarchy are used to account for purchasedintangibles.•Narrow scope amendments were made to PS 1000 Financial statement concepts to remove the prohibition to recognize purchased intangibles and to PS 1201 Financial statement presentation to remove the requirement to disclose purchased intangibles not recognized.•The guideline can be applied retroactively orprospectively.23HighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 27 of 76 24© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Appendix B: New accounting standards (current continued)StandardSummary and implicationsPublic Private Partnerships•The new standard PS 3160 Public private partnerships is effective for fiscal years beginning on or after April 1, 2023 (The Town’sDecember 31, 2024 year-end).•The standard includes new requirements for the recognition, measurement and classification of infrastructure procured through a public private partnership.•The standard notes that recognition of infrastructure by the public sector entity would occur when it controls the purpose and use of the infrastructure, when it controls access and the price, if any, charged for use, and it controls any significant interest accumulated in the infrastructure when the public private partnershipends.•The public sector entity recognizes a liability when it needs to pay cash or non-cash consideration to the private sector partner for the infrastructure.•The infrastructure would be valued at cost, which represents fair value at the date of recognition with a liability of the same amount if one exists. Cost would be measured in reference to the public private partnership process and agreement, or by discounting the expected cash flows by a discount rate that reflects the time value of money and risks specific to theproject.•The standard can be applied retroactively orprospectively.24HighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 28 of 76 25© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. AppendixB: Changes in accounting standards–Future 25Standard Summary and implicationsEmployee Benefits•The Public Sector Accounting Board has initiated a review of sections PS 3250 Retirement benefits and PS 3255 Post-employment benefits, compensated absences and termination benefits. It will apply to fiscal years beginning on or after April 1, 2026. Early adoption will be permitted and guidance applied retroactively. •The intention is to use principles from International Public Sector Accounting Standard 39 Employee benefits as a starting point to develop the Canadian standard.•Given the complexity of issues involved and potential implications of any changes that may arise from the review of the existing guidance, the new standards will be implemented in a multi-release strategy. The first standard will provide foundational guidance. Subsequent standards will provide additional guidance on current and emerging issues.•The proposed section PS 3251 Employee benefits will replace the current sections PS 3250 Retirement benefits and PS 3255 Post-employment benefits, compensated absences and termination benefits. •This proposed section would result in public sector entities recognizing the impact of revaluations of the net defined benefit liability (asset) immediately on the statement of financial position. Organizations would also assess the funding status of their post-employment benefit plans to determine the appropriate rate for discounting post-employment benefit obligations.•The Public Sector Accounting Board is in the process of evaluating comments received from stakeholders on the exposure draft.Concepts Underlying Financial Performance•The revised conceptual framework is effective for fiscal years beginning on or after April 1, 2026 with earlier adoption permitted. •The framework provides the core concepts and objectives underlying Canadian public sector accounting standards. •The ten chapter conceptual framework defines and elaborates on the characteristics of public sector entities and their financial reporting objectives. Additional information is provided about financial statement objectives, qualitative characteristics and elements. General recognition and measurement criteria, and presentation concepts are introduced.HighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 29 of 76 26© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. AppendixB: Changes in accounting standards-Future(continued)26StandardSummary and implicationsFinancial Statement Presentation•The proposed section PS 1202 Financial statement presentation will replace the current section PS 1201 Financial statement presentation. PS 1202 Financial statement presentation will apply to fiscal years beginning on or after April 1, 2026 to coincide with the adoption of the revised conceptual framework. Early adoption will be permitted. •The proposed section includes the following:•Relocation of the net debt indicator to its own statement called the statement of net financial assets/liabilities, with the calculation of net debt refined to ensure its original meaning is retained.•Separating liabilities into financial liabilities and non-financial liabilities.•Restructuring the statement of financial position to present total assets followed by total liabilities.•Changes to common terminology used in the financial statements, including re-naming accumulated surplus (deficit) to net assets (liabilities).•Removal of the statement of remeasurement gains (losses) with the information instead included on a new statement called the statement of changes in net assets (liabilities). This new statement would present the changes in each component of net assets (liabilities), including a new component called “accumulated other”.•A new provision whereby an entity can use an amended budget in certain circumstances.•Inclusion of disclosures related to risks and uncertainties that could affect the entity’s financial position. •The Public Sector Accounting Board is currently deliberating on feedback received on exposure drafts related to the reporting model.Government not-for-profit strategy•The Public Sector Accounting Board has approved its government not-for-profit (“GNFP”) strategy implementation plan. All proposed changes to the PS 4200 series, PSAS, and potential customizations will be subject to due process before PSAB finalizes any changes to the PS Handbook. There is no tentative date for the change.•The approved strategy option is to incorporate the PS 4200 series of standards with potential customizations into public sector accounting standards. This means reviewing the existing PS 4200 series of standards to determine if they should be retained and added to public sector accounting standards. Incorporating the updated or amended PS 4200 series standards in public sector accounting standards would make the guidance available to any public sector entity. Accounting and/or reporting customizations may be permitted if there are substantive and distinct accountabilities that warrant modification from public sector accounting standards. HighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 30 of 76 27© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. For more information on newly effective and upcoming changes to auditing standards - see Current DevelopmentsAppendix C: Newly effective and upcoming changes to auditing standardsISA 600/CAS 600Effective for periods beginning on or after December 15, 2023Revised special considerations –Audits of group financial statementsEffective for periods beginning on or after December 15, 2024ISA 260/CAS 260Communications with those charged with governanceISA 700/CAS 700Forming an opinion and reporting on the financial statementsHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 31 of 76 28© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Appendix D: Audit and assurance insightsKPMG Audit & Assurance InsightsCurated research and insights for audit committees and boards.Board Leadership CentreLeading insights to help board members maximize boardroom opportunitiesCurrent DevelopmentsSeries of quarterly publications for Canadian businesses including Spotlight on IFRS, Canadian Assurance & Related Services, Canadian Securities Matters, and US Outlook reports.Audit Committee Guide –Canadian EditionA practical guide providing insight into current challenges and leading practices shaping audit committee effectiveness in Canada.Sustainability ReportingResource centre on implementing the new Canadian reporting standardsIFRS Breaking News A monthly Canadian newsletter that provides the latest insights on accounting, financial reporting and sustainability reporting.Our latest thinking on the issues that matter most to Audit Committees, board of directors and management.HighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 32 of 76 29© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Appendix E: Our technology storyA betteraudit experienceStreamlined client experienceAnd deeper insights into your business, translating to a better audit experience.SecureA secure client portal provides centralized, efficient coordination with your audit team.Intelligent workflowAn intelligent workflow guides audit teams through the audit.Increased precisionAdvanced data analytics and automation facilitate a risk-based audit approach, increasing precision and reducing your burden.HighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 33 of 76 30© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Appendix F: Climate risk in the financial statementsHow might climate-related risks impact the financial statements?AssetsConsider the useful lives and residual values of PP&E and intangible assets, cash flow projections used for impairment testing of non-financial assets, and the potential impacts on inventories.01LiabilitiesConsider the recognition of environmental and decommissioning obligations, accounting for emissions or ‘green’ schemes, impact on employee-benefit arrangements, and restructuring provisions.02BorrowersConsider the accounting for different forms of government assistance, potential for embedded derivatives in green bonds, lease of green technology, impacts of leasing polluting assets.03LendersConsider how climate-related risks impact operating and financing leases, the potential impact on expected credit losses, and whether green loans meet the solely payments of principal and interest (SPPI) criterion.04All entities are facing climate-related risks and opportunities –and are making strategic decisions in response. The impacts of climate-related risks in the financial statements are broad, potentially complex and will depend on industry-specific risks.DisclosuresConsider the impact on the going concern assessment and related disclosures and whether the impacts of climate-related matters have been disclosed clearly.05See here for more informationHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 34 of 76 31© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Appendix F: Climate risk in the financial statements (Continued)How might climate-related risks impact the financial statements?All entities are facing climate-related risks and opportunities –and are making strategic decisions in response. The impacts of climate-related risks in the financial statements are broad, potentially complex and will depend on industry-specific risks.See here for more information01Long-lived assets02Leases03Impairment of nonfinancial assets04Financial instruments05Contingencies and insurance06Revenue and inventories07Compensation and benefits08Income taxes09Acquisitions and restructuring10Fair value measurement and projections11Presentation and disclosureHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 35 of 76 32© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Appendix F: Greenwashing and Bill C-59: Key Facts & ConsiderationsCompetition ActBill C-59 came into force on June 20, 2024. PenaltiesPenaltiescan range up to three times the value of the benefit derived from the claim, or 3% of the company’s global annual gross revenue, whichever is greater.ScopeBill C-59 includes prohibitions relating to:1. Environmental claims re: products or services E.g. Low carbon fuels2. Social claims re: products or services E.g. Indigenous Reconciliation; diversity, equity and inclusion (DEI); responsible supply chain / modern slavery3. Environmental claims relating to a company E.g. Net-zero or Carbon-Neutral4. Burden of proof on companies:•Environmental / Social product or service claims: “adequate and proper test”•Company / Brand claims: in accordance with an “internationally recognized methodology” Key ConsiderationsAssess your ability to substantiate environmental or social claims about your products, services and business by considering:•What claims do we make that are specific to the company, brand or its products and services?•What methodologiesdo we use to calculate emissions or other environmental and social effects?•Is our net-zero plan realistic, operationally feasible, and can it be validated or proven?•Have we allocated appropriate resources and personnel to our ESG initiatives?Key FactsHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 36 of 76 33© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Appendix F: Bill C-59: Key Facts & Considerations Assess•Identify and review ESG communications (ESG report, website, social media, press releases etc.)•Assess ESG communications (product, service and company claims) against legal requirements•Develop recommendations and action plans to mitigate ESG legal risk Substantiate•Analyze the feasibility of ESG targets and initiatives from technical, financial, commercial and regulatory perspectives•Develop comprehensive plans to ensure effective implementation of ESG initiatives•Establish metrics and manage ESG data to track performance and potential risksImplement•Prepare for new and emerging risks and requirements•Enhance ESG reporting governance, processes and controls •Incorporate ESG legal risk considerations into enterprise risk management program In case you missed our recent webinar on this topic:•Webinar recordingand slidesHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 37 of 76 34© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Appendix F: Frequently Asked QuestionsWhen is Bill C-59 in force?The section specific to greenwashing (s. 236 of Bill C-59 and Subsection 74.01(1) of the Competition Act) came into force upon receiving Royal Assent on June 20, 2024. There is a one-year grace period against private rights of action with respect to s. 74.01(1). Although the Bureau has the authority to take enforcement action sooner, according to witness testimony, it is unlikely to do so prior to issuing guidelines following consultation. Some suggest this may occur in January 2026.Can the Bureau investigate complaints retroactively (claims made before the Amendment comes into force)? Not easily. There is a safeguard in the proposed bill, called the public interest ‘leave test’ (103.1 of the Act). The Tribunal will have to decide whether the case has merit (is in the public’s interest) and requires investigation retroactively.What does “adequate and proper test” and “internationally recognized methodologies” mean? This is yet to be determined, and it is not defined in the Bill or the Act. This is something the Bureau has committed to define following consultation and further research. Importantly, the Senate Committee believes that the analysis should also include federal and other Canadian best practices, such as those set by Environment and Climate Change Canada.What corporate documents and communications does this affect? The Act applies to performance claims about a service, product or business interest including “any form of statement, warranty or guarantee of a product’s performance, efficacy or length of life.” which make take the form of “messages, pictures, or verbal communications, including online and in-store advertisements, social media messages, promotional emails”. The Act does not apply in the case of collective bargaining, amateur sports, securities underwriting, or activities subject to other federal or provincial legislation. The Canadian Securities Administrators may provide guidance and national instruments related to greenwashing in securities disclosures.HighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 38 of 76 35© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Appendix G: Municipal Government Service OfferingsOverview KPMG’s Governance, Risk and Compliance services team has vast experience working with clients across the municipal government sector, assessing organizations risk management, internal control and governance processes and providing value adding insight across our municipal government clients. KPMG has a successful track record and are the leading service provider of municipal government services across a variety of audit areas including operations, finance, service delivery reviews, cyber security and HR. KPMG also provides full outsourced and co-sourced audit services to a number of municipalities, helping clientsto identify more efficient and effective ways of delivering their services and streamlining costs. Below we have provided further details of our service offerings to municipalities. ExperienceKPMG brings a wealth of practical experience delivering services to municipal government clients. We have listed some exampleaudited areas below.•Absence Management•Cyber Security•Insurance•Real Estate•Accounts Payable•Enforcement•IT Governance•Reserves•Accounts Receivable and Cash Handling•Facility Management•Overtime•Recruitment and Retention•Asset Management•Fleet Inventory•Parks and Recreation•Remuneration•By-Law Compliance•Fleet Management•Physical Security•Snow Clearing•Councillor Budgets•Health and Safety•Procurement•Support FunctionsClient listWe are the leading municipal government advisor in Ontario in relation to internal audit, compliance, service delivery and process reviews. We have shown below a summary of the municipalities we have provided services to. HighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 39 of 76 36© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Appendix G: Municipal Government Service Offerings (Continued)Review areasBelow we have shown an examples of the types of reviews we have conducted through our work with Ontario MunicipalitiesAdditional ServicesInternal Audit reviews •Review of the design and operation of key business controls•Identifying recommendations to improve and optimize the control environment•Using data analytics and visualization to test large data sets•Examples include AP, cash handling and Fleet InventoryService delivery/process reviews•Review of the operational efficiency and effectiveness of a service area•Using lean methodologies to identify more efficient and effective ways of delivering services.•Creation of process maps and identification of opportunities to streamline processes and create cost savings•Examples include Snow Clearing, Parks & Recreation and SecuritySpecialist reviews•Using specialist KPMG resources to provide assurance and recommendations across specialist service areas•Using best practice methodologies and frameworks to provide value adding insights and recommendations•Examples include, Cyber Security, IT Risk Assessments, Facilities and Real Estate Control Testing AnalysisProcess Flow ChartsOpportunity ScorecardHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 40 of 76 37© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Service Profiles Data Analytics BenchmarkingE.g. We use service profiles as part of our organizational service delivery reviews across areas such as roads, parks, IT and finance. These show the key staffing and budget requirements, service levels, activity, metrics and improvement opportunities. E.g. We used data analytics to plot complaints received relating to snow clearing, showing the types of complaints received and their geographic locations. This enabled the organization to track complaints more proactively and follow up on any hotspot areas.E.g. We used benchmarking to provide comparable analysis on how security services are provided, including costs to deliver services, types of services, staffing levels and service delivery models. Appendix G: Municipal Government Service Offerings (Continued)Additional ServicesAdditional ServicesHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 41 of 76 38© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Appendix H: Unleashing tomorrow -today with AITurn AI into a cornerstone of sustainable, competitivegrowth.A comprehensive business strategy can seamlessly intertwine technology with your business’s goals, transform AIfrom a concept into a key driver of your objectives, strategy andROI.It's not just about tech; it's about people, striving to ensure smooth transitions and unlocking humanpotential alongside AI innovations.This holistic approach can extend to governance, supply chain, data analytics, implementation and more, solidifyingyour operations against future challenges.Assessing opportunities Seek tounderstandhow AI can impact or disrupt your business and what the existing opportunities are.ScalingAI initiativesScaling up existing AI projects,aligned to the overall business strategy to help ensure success.Competitive edge Staying competitive in a rapidly evolving market where AI is disrupting business operations is key.ExecutivetrainingEvolving theoperatingmodel(Technology)ImplementingsolutionsBusiness strategy –AIdisruptionOptimizing datastructureMaximizing Microsoft CopilotintegrationGoverning and managingriskBrighter business intelligence, powered byAIYour company's strategy and business intelligence are at the heart of your businessdecisions.It should be intimately linked to your artificial intelligence (AI) strategy, efforts, andgoals.Explore andtestHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 42 of 76 39© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Appendix H: Unleashing tomorrow -today with AI (Continued)4 key phases of a successful AIstrategy0304Understand01Hyper DiagnosticDemonstrate the ”art of the possible” and the currentAIlandscape, explore diverse use cases, and assesspeer adoption.AI readiness assessmentDeploy AI readiness assessment to ensure thecompany is prepared from a tech, data, governance and people perspective.Perspective on AI strategyAssess AI's disruptive potential across core and support functions,demonstrateits impact on operations and costs, and establish an initial AI strategy aligned with companypriorities.Design02Risk AssessmentDiscuss the potential risks and opportunitiesassociatedwith the key scenarios.Opportunity assessmentPinpoint quick wins, evaluating their potentialbenefits,and conduct a high-level feasibilityassessment.Present available subsidy and grant options for relevant AI projects.InitiateStakeholder involvementProvide recommendations for engaging internal stakeholders and collect insights on AI adoption throughout the company's value chain.Financial implications and opportunity validation Quantify the impact of various AI scenarios, calculatingROI. Identify and engage necessary people, processes, and technologies for execution.Strategic roadmapCreate a concise strategic plan, encompassing vision, values, competitive advantage, key initiatives, and a roadmap with resource allocation andKPIs.OperationalizeTransform technology services with generative AI Assessment of current IT capabilities and the foundations necessary for the implementation of the selectedgenerative AI solutionsDefine the IT delivery model forsolutions.Enterprise architecture adapted to AISupport for the integration of Gen AI into theenterprisearchitecture and into the organization'sroadmap.Define a Target OperatingModelOrchestrate business capabilitiesOrchestration of all business practices and underlyingIT capabilities necessary foroperationalization.HighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 43 of 76 40© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Appendix H: AI Education and Training for executives & boardsEmbrace the future with AI, the driving force of the new economy, set to help transform your business model. This transformative power can drive your organization’s position in the market. Consider the impending changes and strategize for the years ahead, helping to ensure a seamless and secure integration of this groundbreaking technology.A first step in the adoption of AI in yourbusinessImplementing generative AI starts with your business priorities, supported by executive and board engagement to drive a transformation aligned with your corporate ambitions.•Presentation to various executive committees•Presentation to the Board of Directors•Role and responsibilities around AI as a board member and executive•Workshop on concrete business potential•AI strategic planAI strategy and valueUse case developmentImplementAI solutionsChange starts withyouoforganizations plan to adoptgenerative AI within 6 to 12 months*.Executive and board trainingDiscover the commercial and competitive potential of working with AI03Learn how to manage AI risk and governance as a business leader04Identify your productivity and automation challenges and take corrective action05Redefine your business model holistically06Foster a continuous learning culture and manage change for successful AI implementation02Understand the impact and trends of generative AI adoption in your organization and industry0160%*KPMG survey of 300 executives on generative AI, March 2023Governing and managing risk (Trusted AI)Workforce transformation and adoptionAI Data & Cloud infrastructureHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 44 of 76 41© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Appendix H: AI Education and Training for executives and boards (Continued)A three-part trainingprogram Discover real-life uses of generative AI, tailored to your business sectorTechnology demonstrations•See the impact of generative AI on the future of your organization through concrete, contextualized demonstrations•Assess the potential benefits for yourorganizationUpdated overview of this fast-paced technology•Learn what is new in the world of AI •Explore industry-specific use cases that could benefit your organization•Manage AI risk and governance adequately200+Professionals dedicated to generative AI recognized for their technical skills and innovative strategic vision.800+Tailor-made use cases for all business sectors.KPMG, a leader in generativeAIBrainstorming workshops•Identify organizational priorities for AI adoption and how to prepare your teams for changeupstream•Educate and empower key stakeholders to drive AI strategy and the governance framework at the executive level50+Board and executive education and training sessions delivered in the last year. Our team understands the challenges you face as an executive or board member and can help you build confidence and accelerate the value AI can bring to your business.HighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 45 of 76 42© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Appendix I: Cyber Security Municipalities in thenewsPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member ated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization.42KPMG ConfidentialHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 46 of 76 43© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Appendix I: How can a cyber attack impactyou?AssociatedCostsOrganizational DisruptionTechnology is a main enablement tool used in our cities, many core services rely on technology to deliver services.When access to technology is disrupted it can have severe impacts to public services, emergency services, infrastructure and sensitive information.Cyber incidents have a variety of costs associated with recovery, which include:•Ransom Payments•System Restoration•Security Upgrades•Legal & ProfessionalServices•Follow-on Monitoring•Loss of Revenue•Financial Fraud/TheftThese costs start to balloon quickly and can have long lasting effects.Reputational Damage& Residents ImpactA cyber incident can cause significant reputational damage to a town, leading to a loss of trust among residents and potential investors, which can indirectly impact the town's financial health. For residents, the breach of their personal information can lead to a loss of confidence in the town's ability to protect their data, potentially resulting in decreased use of town services that require personal information.43HighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 47 of 76 44© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Appendix I: What is a cyber resilientorganization?What is a cyber resilient municipality?PreparationThis involves understanding your organization’s risk profile, identifying business critical assets, and developing a comprehensive cybersecurity strategy. It includes training employees on cybersecurity best practices and implementing robust security measures where possible.ProtectionThis entails implementing measures to prevent cyber attacks. It includes maintaining up-to-date security software, regularly patchingvulnerabilities, and controlling access to sensitive information. Protecting your organization requires cybersecurity to be a part of all business conversations.DetectionThis includes continuously monitoring systems and networks for signs of a cyber attack. It calls for the use of security tools, conducting regular security audits and making consistent updates to improve detectioncapabilities.Response &RecoveryThis consists of having a plan in place to respond to a cyber attack and recover from it. It is made up of incident respond planes, disaster recovery plans, and business continuity plans. These plans should be regularly tested and improved upon.01020344Risk PrioritizationTo be a cyber resilient municipality, you must be able to prioritize your resources to address the risks that threaten you. To prioritize risks, you must understand all the risks currently facing your organization.Implement the BasicsImplementing basic cyber security practices like training, maintaining security software, regularly patching and multifactor authentication can be cost effective ways to dramatically improve cybersecurity resilience.Defence in DepthThis is a crucial strategy for municipalities as it reduces the risk of a single point of failure, enhances efficiency in threat detection and response, increase resilience to attacks, and provide protection against advanced cyber threats.HighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 48 of 76 45© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Appendix I: Steps to building cyberresilience4 –Increase ResilienceIncreasing resilience and developing business continuity is an important part of building cyber resilience. It ensures uninterrupted business operations even in the face of cyber threats and allows organizations to quickly recover from cyber incidents, minimizing downtime and associated costs. Furthermore, a robust business continuity plan demonstrates an organization's commitment to security, which can enhance its reputation among stakeholders.2 –Test your TechnologyTesting technology is crucial for building cyber resilience as it helps identify potential vulnerabilities and weaknesses in the system that could be exploited by cyber threats. It also allows organizations to evaluate the effectiveness of their current security measures and protocols. By testing your technology, you can deepen the understanding of risks your organization faces and perform ongoing risk management. Theses tests allow for an unbiased look at your infrastructure and contribute to a proactive prevention of unauthorized users.3 –Validate ResponseValidating response efforts is a crucial part of building cyber resilience as it ensures that the organization's incident response plan is effective and efficient. It allows for the identification of any gaps or weaknesses in the response strategy, enabling improvements to be made. Furthermore, it provides an opportunity for staff to practice and refine their skills in a controlled environment, enhancing their readiness for real cyber incidents.Cyber Resilience45The following principles serve as the bedrock for establishing a continuous lifecycle that fosters cyber resilience. These principles provide a consistent framework of actions to progressively build and enhance cyber resilience.1 –Understand Current StateTo build a robust cyber resilience framework, it is imperative to start with a comprehensive understanding of your current cybersecurity status. This includes an evaluation of the protective measures already implemented, identification of critical assets, understanding the policies and procedures that regulate your operations, and an assessment of system vulnerabilities. By gaining these insights, you can make risk informed decisions that protect your organization and efficiently allocate the resources available.HighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 49 of 76 46© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Appendix J: Expanding the use of audit technologyAnalytics•AI Transaction Scoring•Audit Routine Catalogue•Data Visualization•Group Scoping Tool•Matching Routines•Process Mining Analytics•KPMG Forecast Analytics SuiteAutomation•Automated Industry Routines•Confirmation•Data Extraction Scripts•DataShare•DataSnipper•Inventory Counter App•iRadar and iNav•Offset RemoverCollaboration•DocuSign™•KPMG Clara for ClientsWorkflow•KPMG Clara Workflow•Account Analysis•Journal Entry Analysis•Planning AnalyticsHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 50 of 76 47© 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. StandardizationEnhanced audit qualityData and techenablementCenter forAudit SolutionsNext-genauditorMethodology and ApproachQuality Management SystemExceptional experiencesIncreased efficiencyOur investment: $5BWe are in the midst of a five-year investment to develop our people, digital capabilities, and advanced technology.Responsive delivery modelTailored to you to drive impactful outcomes around the quality and effectiveness of our audits.Result: A better experienceEnhanced quality, reduced disruption, increased focus on areas of higher risk, and deeper insights into your business.CentralizationAutomationAppendix K: Continuous evolutionHighlightsRisk AssessmentAppendicesAudit StrategyAudit QualityKey milestones and deliverablesGroup Audit - ScopingPage 51 of 76 © 2024 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization.kpmg.caPage 52 of 76 100 John West Way Aurora, Ontario L4G 6J1 (905) 727-3123 aurora.ca Town of Aurora Memorandum Finance Re: Line by Line Budget Review of Operational Services To: Finance Advisory Committee From: Mohamedali Kamalia, Senior Advisor, Financial Management Date: January 21, 2025 Recommendation 1. That the memorandum regarding Line by Line Budget Review of Operational Services be received; and 2. That the Finance Advisory Committee comments regarding Line by Line Budget Review of Operational Services be received and referred to staff for consideration and further action as appropriate. Background As per its budget process document, the Finance Advisory Committee is required to undertake a detailed review of each department and community service partner’s core operating budgets prior to the conclusion of the Council term. These detailed reviews allow for a more strategic review of the Town’s draft operating budgets by the Budget Committee. During the course of these detailed reviews any arising budget concern areas can be explored and addressed as part of a future Town budget process. Attachments 1 – Operational Services detailed budget materials Page 53 of 76 2021 2022 2023 2024 2024 2024 Forecast vs 2024 Forecast vs Actual Actual Actual Budget Forecast 2023 Actual 2023 Actual Variance Explanation Gross Expenditures: 61001: SALARIES - F/T 247,874 252,618 229,771 275,641 304,338 74,566 32.5%2024 forecast to be revised to match 2024 budget of $275,641. Savings incurred in 2023 due to transition from outgoing Director to new Director. 61004: VACATION PAY --7,071 --(7,071)(100.0%) 61005: SICK PAY 1,059 4,972 3,340 -323 (3,017)(90.3%) 61090: YEAR END ACCRUALS (20,572)(6,186)13,947 --(13,947)(100.0%) 61101: BENEFITS - OMERS 29,818 31,377 26,326 33,381 35,916 9,590 36.4% 61102: BENEFITS - EHT 4,899 5,257 4,778 5,452 6,033 1,255 26.3% 61103: BENEFITS - WSIB 1,243 1,321 2,194 2,097 2,320 126 5.8% 61104: BENEFITS - CPP 6,385 7,011 7,609 8,016 12,287 4,678 61.5% 61105: BENEFITS - EI 2,512 2,647 2,824 2,947 3,628 803 28.4% 61106: BENEFITS - DENTAL 3,589 3,240 3,135 3,696 3,820 685 21.8% 61107: BENEFITS - HEALTH 5,551 5,213 5,378 5,808 6,109 730 13.6% 61108: BENEFITS - LTD/ADD 5,016 4,535 5,714 7,157 7,615 1,901 33.3% 61109: BENEFITS - OTHER 671 --1,062 720 720 - 61902:SALARY SAVINGS ---(32,150)--- Subtotal: 61000: SALARIES AND BENEFITS 288,045 312,006 312,088 313,108 383,108 71,020 22.8% 62001: OFFICE SUPPLIES 5,589 3,219 5,955 3,225 2,725 (3,230)(54.2%) 62005: SUBSCRIPTIONS/PUBLICATIONS ---100 100 100 - 62007: OFFICE EQUIPMENT --2,143 --(2,143)(100.0%) 62008: COMPUTER SUPPLIES --4,888 --(4,888)(100.0%) 62019: LICENSES --5,176 --(5,176)(100.0%) 62045: MEETING EXPENSES 1,171 3,720 4,345 1,730 1,730 (2,615)(60.2%) 62999: CLEARING/SUSPENSE ACCOUNT 1,189 370 69 -700 630 907.4% Subtotal: 62000: MATERIALS AND SUPPLIES 7,949 7,309 22,577 5,055 5,255 (17,322)(76.7%) 64002: CONFERENCES ---450 450 450 - 64008: MOBILE PLAN CHARGES 1,553 773 312 1,375 75 (236)(75.8%) 64013: COURSES & SEMINARS 4,487 14,104 11,832 15,850 15,850 4,018 34.0% 64015: MEMBERSHIPS 3,551 1,202 5,977 4,500 4,500 (1,477)(24.7%) 64016: MILEAGE 414 -8 500 -(8)(100.0%) 64017: VEHICLE ALLOWANCE 803 3,606 3,942 3,942 3,942 -- 64022: EQUIPMENT SERVICE CONTRACTS 2,650 1,872 1,856 -700 (1,156)(62.3%) 64032: PHOTOCOPIER CHARGES 9,646 9,717 9,113 9,717 9,717 604 6.6% Subtotal: 64000: SERVICES AND CONSULTANTS 23,104 31,273 33,039 36,334 35,234 2,195 6.6% Expenses Budgeted 319,097 350,588 367,703 354,497 423,597 55,893 15.2% Revenues: Total Levy 319,097 350,588 367,703 354,497 423,597 55,893 (15.2%) 1 of 10 +/- $20,000 AND +/- 10% Change Attachment 1 Page 54 of 76 2021 2022 2023 2024 2024 2024 Forecast vs 2024 Forecast vs Actual Actual Actual Budget Forecast 2023 Actual 2023 Actual Variance Explanation Gross Expenditures: 61001: SALARIES - F/T 368,991 396,868 426,790 412,666 408,752 (18,038)(4.2%) 61002: SALARIES - O/T 8,700 15,960 17,073 -1,357 (15,715)(92.0%) 61003: SALARIES - P/T --51 --(51)(100.0%) 61004: VACATION PAY ----3,960 3,960 - 61005: SICK PAY 28,330 10,666 8,269 -7,338 (931)(11.3%) 61090: YEAR END ACCRUALS (1,023)(3,411)3,978 --(3,978)(100.0%) 61101: BENEFITS - OMERS 41,359 41,101 44,040 41,293 42,554 (1,486)(3.4%) 61102: BENEFITS - EHT 8,210 8,307 8,854 8,047 8,225 (629)(7.1%) 61103: BENEFITS - WSIB 3,158 3,195 3,406 3,095 3,164 (242)(7.1%) 61104: BENEFITS - CPP 17,096 17,710 19,056 20,004 21,662 2,605 13.7% 61105: BENEFITS - EI 6,756 6,751 7,194 7,368 7,623 429 6.0% 61106: BENEFITS - DENTAL 8,993 8,196 7,645 9,240 8,120 475 6.2% 61107: BENEFITS - HEALTH 14,162 13,410 13,245 14,520 12,937 (308)(2.3%) 61108: BENEFITS - LTD/ADD 9,462 11,153 10,129 9,327 8,685 (1,444)(14.3%) 61109: BENEFITS - OTHER 903 --1,568 1,052 1,052 - Subtotal: 61000: SALARIES AND BENEFITS 515,096 529,906 569,730 527,128 535,427 (34,303)(6.0%) 62011: CLOTHING ALLOWANCE 2,129 3,153 3,898 3,450 3,450 (448)(11.5%) 62016: OPERATING MATERIALS 16,438 26,330 32,276 14,425 14,425 (17,851)(55.3%) 62019: LICENSES 54,794 44,807 60,748 40,000 40,000 (20,749)(34.2%)MTO vehicle sticker renewals vary due to light and medium equipment can be two year renewals vs annually. 62020: VEHICLE SUPPLIES 263,922 354,819 369,999 316,500 316,500 (53,498)(14.5%)Parts can vary annually based on equipment use and price increases due to global economy. 62021: EQUIPMENT - OTHER 40,205 66,383 96,360 66,701 66,701 (29,659)(30.8%) Fleet has grown yearly resulting in more equipment repairs and maintenance costs. 62022: TOOLS 4,920 9,315 4,799 5,400 5,400 601 12.5% 62048: FUEL COSTS 284,292 419,543 381,936 408,000 380,000 (1,936)(0.5%) 63902: INTERNAL EQUIPMENT RENTAL (306,600)(322,600)(322,600)(322,600)(322,600)-- 63903: INTERNAL FUEL (29,851)(81,017)(78,610)(60,000)(60,000)18,610 23.7% Subtotal: 62000: MATERIALS AND SUPPLIES 330,250 520,733 548,806 471,876 443,877 (104,929)(19.1%) 64008: MOBILE PLAN CHARGES 830 784 668 713 713 45 6.8% 64013: COURSES & SEMINARS --68 --(68)(100.0%) 64019: VEHICLE REPAIRS 185,672 155,336 148,981 152,670 152,670 3,689 2.5% 64026: INSURANCE FEES 30,323 36,151 30,568 39,774 39,774 9,206 30.1% 64036: POLICE SEARCHES --200 --(200)(100.0%) Subtotal: 64000: SERVICES AND CONSULTANTS 216,826 192,271 180,484 193,157 193,157 12,673 7.0% 45003: TRANSFERS TO RESERVES 266,863 228,391 29,360 45,000 45,000 15,640 (53.3%) Subtotal: 45000: TRANSFERS TO 266,863 228,391 29,360 45,000 45,000 15,640 (53.3%) Expenses Budgeted 1,329,035 1,471,301 1,328,379 1,237,161 1,217,461 (110,919)(8.3%) Revenues: 56126: OTHER USER FEES (261,015)(97,539)(29,360)(52,000)(52,000)(22,640)77.1% Asset disposal revenues were lower than what is expected in 2024. Subtotal: 50000: REVENUES (261,015)(97,539)(29,360)(52,000)(52,000)(22,640)77.1% 2 of 10 Page 55 of 76 2021 2022 2023 2024 2024 2024 Forecast vs 2024 Forecast vs Actual Actual Actual Budget Forecast 2023 Actual 2023 Actual Variance Explanation 41003: TRANSFERS FROM RESERVES --(8,200)--8,200 (100.0%) Subtotal: 41000: TRANSFERS FROM RESERVE --(8,200)--8,200 (100.0%) Revenues Budgeted (261,015)(97,539)(37,560)(52,000)(52,000)(14,440)(38.4%) Total Levy 1,068,020 1,373,763 1,290,820 1,185,161 1,165,461 (125,359)9.7% 3 of 10 Page 56 of 76 2021 2022 2023 2024 2024 2024 Forecast vs 2024 Forecast vs Actual Actual Actual Budget Forecast 2023 Actual 2023 Actual Variance Explanation Gross Expenditures: 61001: SALARIES - F/T 1,567,643 1,625,346 1,783,218 1,707,228 1,673,140 (110,078)(6.2%) 61002: SALARIES - O/T 59,999 93,201 65,443 48,753 50,297 (15,146)(23.1%) 61003: SALARIES - P/T 221,066 231,537 273,962 511,303 446,388 172,426 62.9% 1. Union agreement included in 2024 budget. 2. Seasonal and summer positions are budgeted under PT salaries but charged to FT salaries. 3. 2023 summer positions were not all filled due to shortfall of willing applicants. 61004: VACATION PAY -1,958 1,899 --(1,899)(100.0%) 61005: SICK PAY 21,716 33,223 29,348 -17,023 (12,325)(42.0%) 61090: YEAR END ACCRUALS 2,580 (16,221)(1,816)--1,816 100.0% 61101: BENEFITS - OMERS 148,870 147,872 170,376 160,923 165,209 (5,167)(3.0%) 61102: BENEFITS - EHT 37,393 38,886 42,129 43,492 42,074 (54)(0.1%) 61103: BENEFITS - WSIB 14,033 14,437 15,968 16,863 16,317 349 2.2% 61104: BENEFITS - CPP 81,609 90,295 100,917 107,571 110,014 9,097 9.0% 61105: BENEFITS - EI 32,869 35,756 38,847 44,147 42,782 3,935 10.1% 61106: BENEFITS - DENTAL 28,479 22,667 25,752 38,808 32,270 6,517 25.3% 61107: BENEFITS - HEALTH 44,871 38,269 44,189 60,984 51,145 6,956 15.7% 61108: BENEFITS - LTD/ADD 35,604 43,982 39,648 38,520 35,383 (4,265)(10.8%) 61109: BENEFITS - OTHER 3,146 --6,318 4,256 4,256 - Subtotal: 61000: SALARIES AND BENEFITS 2,299,878 2,401,206 2,629,879 2,784,910 2,686,297 56,418 2.1% 62001: OFFICE SUPPLIES 1,972 756 568 2,040 1,540 972 171.1% 62010: SAFETY SUPPLIES 5,993 9,257 6,147 7,800 7,800 1,653 26.9% 62011: CLOTHING ALLOWANCE 9,514 11,543 19,075 12,000 12,000 (7,076)(37.1%) 62014: UTILITIES 105,637 87,921 80,412 85,000 85,000 4,588 5.7% 62016: OPERATING MATERIALS 95,715 84,489 83,880 75,740 75,740 (8,140)(9.7%) 62020: VEHICLE SUPPLIES --1,174 --(1,174)(100.0%) 62021: EQUIPMENT - OTHER 29,058 20,091 25,452 12,500 12,500 (12,952)(50.9%) 62022: TOOLS 4,171 934 1,139 3,775 3,775 2,636 231.4% 62023: PATHWAY MAINTENANCE MATERIALS 40,813 49,856 37,759 48,650 48,650 10,891 28.8% 62024: FENCE MATERIALS 9,468 18,751 16,337 12,950 12,950 (3,387)(20.7%) 62025: PROGRAM MATERIALS --360 --(360)(100.0%) 62045: MEETING EXPENSES 14 458 1,487 460 460 (1,026)(69.0%) 62049: SIGNAGE 12,107 2,085 14,778 5,400 5,400 (9,378)(63.5%) 62050: FIELD PAINT 5,535 15,478 15,667 27,600 22,600 6,933 44.2% 62051: HORTICULTURE PROGRAM 41,868 30,994 30,065 46,800 46,800 16,736 55.7% 62052: FERT/GRASS SEED 28,867 36,664 24,748 35,700 30,700 5,952 24.0% 62053: PARK ELEC/LIGHTING 37,450 24,610 58,571 23,650 23,650 (34,922)(59.6%)Updates to several key electrical infrastructure components required for special events, and upgrades to park utility boxes at sport fields/ walkway lights. 62054: IRRIGATION 1,722 5,028 -5,500 5,500 5,500 - Subtotal: 62000: MATERIALS AND SUPPLIES 429,903 398,914 417,619 405,565 395,066 (22,554)(5.4%) 4 of 10 Page 57 of 76 2021 2022 2023 2024 2024 2024 Forecast vs 2024 Forecast vs Actual Actual Actual Budget Forecast 2023 Actual 2023 Actual Variance Explanation 64002: CONFERENCES ----150 150 - 64008: MOBILE PLAN CHARGES 14,580 9,060 8,905 12,073 12,073 3,167 35.6% 64013: COURSES & SEMINARS 1,134 2,499 2,790 -2,138 (652)(23.4%) 64015: MEMBERSHIPS 1,937 2,465 5,272 1,560 4,031 (1,241)(23.5%) 64016: MILEAGE 223 429 358 750 500 142 39.5% 64024: PROPERTY IMPROVEMENT 40,931 33,137 63,563 43,350 43,350 (20,214)(31.8%)New skating rink liners were required in in 2023 (11K) and electrification of automated locking of washroom facilities to improve efficiency. 64025: BUILDING REPAIR & MAINTENANCE 38,121 83,326 101,937 82,200 82,200 (19,737)(19.4%) 64030: CONSULTING 8,237 -3,053 16,050 16,050 12,997 425.7% 64032: PHOTOCOPIER CHARGES 4,663 4,696 4,502 4,930 4,930 428 9.5% 64034: PURCHASE OF TREES 184,420 71,507 121,949 89,000 89,000 (32,949)(27.0%) One-time replacement of trees in 2023 that were damaged from 2022 storm. 64036: POLICE SEARCHES --595 -170 (426)(71.5%) 64045: CONTRACTS 11,783 6,361 10,669 10,100 10,100 (569)(5.3%) 64048: WASTE DISPOSAL FEE 4,406 9,668 17,240 28,000 24,000 6,760 39.2% 64049: CONTRACTS - GRASS CUTTING 23,816 5,742 12,196 24,000 24,000 11,804 96.8% 64062: REALTY TAXES 5,176 -5,810 5,200 5,200 (610)(10.5%) 64071: SECURITY 82,587 41,377 44,940 41,000 41,000 (3,940)(8.8%) 64072: ARBORCULTURAL CONTRACT 84,654 203,145 105,512 81,600 81,600 (23,913)(22.7%)Completion of 2022 work that included stumping of trees in 2023 so that new trees could be planted . 64073: SHRUB BED MAINT 106,713 96,809 131,088 134,000 134,000 2,911 2.2% 64137: ACTIVE NET CHARGES & FEES 1,056 1,537 2,908 3,000 3,000 91 3.1% 64139:ABORETUM SERVICES --72,488 68,350 68,350 (4,138)(5.7%) 64141: EAB TREE REMOVAL & REPLACE -754 245,648 220,900 220,900 (24,748)(10.1%) Fewer tree removals and replacements expected in 2024. Subtotal: 64000: SERVICES AND CONSULTANTS 614,438 572,511 961,423 866,063 866,739 (94,685)(9.8%) 45003: TRANSFERS TO RESERVES 415,051 581,618 493,281 124,500 180,101 (313,180)63.5% Subtotal: 45000: TRANSFERS TO 415,051 581,618 493,281 124,500 180,101 (313,180)63.5% Expenses Budgeted 3,759,269 3,954,250 4,502,202 4,181,038 4,128,202 (374,000)(8.3%) Revenues: 52303: BALL DIAMOND/SOCCER USER FEES (149,620)(213,184)(283,377)(319,500)(319,500)(36,123)12.7%Increase in field rental fees to bring them more in line with neighbouring municipalities and to better reflect the increasing cost of field maintenance. 52106: PARKS PLANNING - LANDSCAPE FEES (24,976)(12,868)(10,676)(1,000)(60,000)(49,324)462.0%2024 YTD Parks planning revenue totals $17,600. 2024 forecast to be revised lower to reflect YTD actuals. 52125:SUBDIVISION ENTRY FEATURES MTCE FEES ---(1,000)(1,000)(1,000)- 52601: CONTRIBUTIONS FROM DEVELOPERS (115,600)(115,600)(182,600)(115,600)(77,067)105,533 (57.8%)1. 2024 Budget moved to line below - 41003 Transfers From Reserves ($68,350) 2. 2024 forecast to be revised to match 2024 budget ($115,600) 54001: FEDERAL GRANTS/CONTRIBUTION (90,839)(31,500)(2,170)--2,170 (100.0%) 54005: PROVINCIAL GRANTS/CONTRIBUTIONS (17,460)------ 54100: OTHER GRANTS --(5,062)--5,062 (100.0%) 56004: PLANTING COMPENSATION FEES (18,781)(199,746)(302,657)(26,000)(26,600)276,057 (91.2%)2024 YTD street tree planting fee revenues total $9,900. 2024 forecast to be revised higher to reflect YTD actuals. Amounts collected vary annually. 56402: DONATIONS (50,000)(10,809)(16,148)(10,000)(10,000)6,148 (38.1%) 56112: SUBDIVISION APPLICATION FEES (189,012)(155,976)(75,481)(50,000)(70,000)5,482 (7.3%) 5 of 10 Page 58 of 76 2021 2022 2023 2024 2024 2024 Forecast vs 2024 Forecast vs Actual Actual Actual Budget Forecast 2023 Actual 2023 Actual Variance Explanation 56113: SITE PLAN APPLICATION FEES (150,782)(125,446)(97,967)(40,000)(75,000)22,967 (23.4%)2024 YTD site plan application fee revenues total $57K. Amounts collected vary annually 56126: OTHER USER FEES (30,825)(42,380)(41,027)(36,370)(36,370)4,657 (11.4%) 56501: DO NOT USE - CONTRIBUTIONS FROM DEVELOPERS 115,600 ------ Subtotal: 50000: REVENUES (722,295)(907,508)(1,017,164)(599,470)(675,537)341,627 (33.6%) 41003: TRANSFERS FROM RESERVES (75,000)(75,000)(159,267)(143,350)(118,350)40,917 (25.7%) 1. 2024 Budget moved from line above - 52601 Contributions from Developers ($68,350) 2. 2024 forecast to be revised to match 2024 budget ($75,000). Subtotal: 41000: TRANSFERS FROM RESERVE (75,000)(75,000)(159,267)(143,350)(118,350)40,917 (25.7%) Revenues Budgeted (797,295)(982,508)(1,176,431)(742,820)(793,887)382,544 32.5% Total Levy 2,961,975 2,971,741 3,325,771 3,438,218 3,334,315 8,544 (0.3%) 6 of 10 Page 59 of 76 2021 2022 2023 2024 2024 2024 Forecast vs 2024 Forecast vs Actual Actual Actual Budget Forecast 2023 Actual 2023 Actual Variance Explanation Gross Expenditures: 61001: SALARIES - F/T 445,520 126,792 106,138 282,026 158,595 52,457 49.4%Fewer weather events in 2023 resulted in less staff time charged to Winter Maintenance. 61002: SALARIES - O/T 13,943 16,978 7,977 15,982 10,961 2,984 37.4% 61003: SALARIES - P/T 42,637 --164,538 164,538 164,538 - 61004: VACATION PAY 1,057 ------ 61005: SICK PAY -562 966 --(966)(100.0%) 61090: YEAR END ACCRUALS (1,284)------ 61101: BENEFITS - OMERS 51,423 17,532 13,880 25,247 19,159 5,278 38.0% 61102: BENEFITS - EHT 10,945 2,815 2,250 6,095 4,419 2,169 96.4% 61103: BENEFITS - WSIB 4,208 1,039 830 2,344 1,700 869 104.7% 61104: BENEFITS - CPP 26,989 5,806 5,235 14,600 10,782 5,547 106.0% 61105: BENEFITS - EI 11,342 2,234 2,080 6,183 4,228 2,148 103.3% 61106: BENEFITS - DENTAL 10,047 2,367 1,740 6,838 4,755 3,016 173.3% 61107: BENEFITS - HEALTH 16,206 3,882 3,053 10,745 7,514 4,461 146.1% 61108: BENEFITS - LTD/ADD 9,250 3,768 2,460 6,326 4,624 2,165 88.0% 61109: BENEFITS - OTHER 1,665 --1,066 715 715 - Subtotal: 61000: SALARIES AND BENEFITS 643,948 183,776 146,609 541,990 391,990 245,380 167.4% 62016: OPERATING MATERIALS 432,394 549,191 499,570 444,460 444,460 (55,110)(11.0%) Higher salt purchases than budgeted in 2023 Subtotal: 62000: MATERIALS AND SUPPLIES 432,394 549,191 499,570 444,460 444,460 (55,110)(11.0%) 64045: CONTRACTS 963,281 854,269 713,149 766,100 766,100 52,952 7.4% Subtotal: 64000: SERVICES AND CONSULTANTS 963,281 854,269 713,149 766,100 766,100 52,952 7.4% 45003: TRANSFERS TO RESERVES 4,711 228,237 37,667 4,711 4,711 (32,956)87.5% Subtotal: 45000: TRANSFERS TO 4,711 228,237 37,667 4,711 4,711 (32,956)87.5% Expenses Budgeted 2,044,334 1,815,473 1,396,995 1,757,261 1,607,261 210,266 15.1% Revenues: 56126: OTHER USER FEES (10,363)(10,363)(13,500)(13,500)(13,500)-- Subtotal: 50000: REVENUES (10,363)(10,363)(13,500)(13,500)(13,500)-- 41003: TRANSFERS FROM RESERVES --(4,896)(150,000)-4,896 (100.0%) Subtotal: 41000: TRANSFERS FROM RESERVE --(4,896)(150,000)-4,896 (100.0%) Revenues Budgeted (10,363)(10,363)(18,397)(163,500)(13,500)4,896 26.6% Total Levy 2,033,971 1,805,110 1,378,599 1,593,761 1,593,761 215,163 (15.6%) 7 of 10 Page 60 of 76 2021 2022 2023 2024 2024 2024 Forecast vs 2024 Forecast vs Actual Actual Actual Budget Forecast 2023 Actual 2023 Actual Variance Explanation Gross Expenditures: 61001: SALARIES - F/T 742,188 1,038,657 1,273,054 1,220,081 1,150,796 (122,259)(9.6%) 61002: SALARIES - O/T 25,302 49,237 36,492 6,382 27,899 (8,592)(23.5%) 61003: SALARIES - P/T 15,409 -3,986 14,538 9,639 5,652 141.8% 61004: VACATION PAY 1,923 ------ 61005: SICK PAY 38,105 58,506 37,472 -17,189 (20,283)(54.1%) 61090: YEAR END ACCRUALS 3,927 (14,063)5,813 --(5,813)(100.0%) 61101: BENEFITS - OMERS 75,370 101,719 127,025 112,929 130,176 3,151 2.5% 61102: BENEFITS - EHT 16,131 22,344 26,358 24,036 27,655 1,297 4.9% 61103: BENEFITS - WSIB 6,153 8,488 9,311 9,380 10,771 1,460 15.7% 61104: BENEFITS - CPP 33,539 52,298 55,597 60,667 71,422 15,824 28.5% 61105: BENEFITS - EI 12,688 19,972 22,810 23,891 28,334 5,524 24.2% 61106: BENEFITS - DENTAL 19,543 21,844 23,073 28,736 28,006 4,933 21.4% 61107: BENEFITS - HEALTH 30,580 36,713 41,629 45,157 45,049 3,420 8.2% 61108: BENEFITS - LTD/ADD 19,383 27,645 28,999 28,051 28,378 (621)(2.1%) 61109: BENEFITS - OTHER 1,078 --4,562 3,097 3,097 - Subtotal: 61000: SALARIES AND BENEFITS 1,041,320 1,423,359 1,691,621 1,578,410 1,578,410 (113,211)(6.7%) 62011: CLOTHING ALLOWANCE 8,858 10,871 14,172 14,000 14,000 (172)(1.2%) 62016: OPERATING MATERIALS 97,960 83,390 105,757 81,050 91,050 (14,708)(13.9%) 62045: MEETING EXPENSES --11,835 --(11,835)(100.0%) Subtotal: 62000: MATERIALS AND SUPPLIES 106,817 94,262 131,764 95,050 105,050 (26,714)(20.3%) 64008: MOBILE PLAN CHARGES 12,266 9,819 10,871 12,400 12,400 1,529 14.1% 64045: CONTRACTS 617,768 729,477 727,558 803,650 803,651 76,093 10.5%2023 Contracted service savings of $65K and 2024 contracted budget increases of $10K. Subtotal: 64000: SERVICES AND CONSULTANTS 630,035 739,296 738,429 816,050 816,051 77,622 10.5% Expenses Budgeted 1,778,172 2,256,916 2,561,814 2,489,510 2,499,511 (62,303)(2.4%) Revenues: 54001: FEDERAL GRANTS/CONTRIBUTION -(2,100)----- 56126: OTHER USER FEES (100,557)(132,738)(116,796)(115,700)(115,700)1,096 (0.9%) Subtotal: 50000: REVENUES (100,557)(134,838)(116,796)(115,700)(115,700)1,096 (0.9%) 41003: TRANSFERS FROM RESERVES (200,000)(194,649)(300,000)(300,000)(300,000)-- Subtotal: 41000: TRANSFERS FROM RESERVE (200,000)(194,649)(300,000)(300,000)(300,000)-- Revenues Budgeted (300,557)(329,488)(416,796)(415,700)(415,700)1,096 0.3% Total Levy 1,477,615 1,927,429 2,145,018 2,073,810 2,083,811 (61,208)2.9% 8 of 10 Page 61 of 76 2021 2022 2023 2024 2024 2024 Forecast vs 2024 Forecast vs Actual Actual Actual Budget Forecast 2023 Actual 2023 Actual Variance Explanation Gross Expenditures: 61003: SALARIES - P/T 6,344 18,945 15,139 28,552 27,852 12,713 84.0% 61101: BENEFITS - OMERS 590 2,154 1,372 -347 (1,025)(74.7%) 61102: BENEFITS - EHT 128 369 295 -75 (220)(74.5%) 61103: BENEFITS - WSIB 49 142 113 -29 (85)(74.5%) 61104: BENEFITS - CPP 233 751 620 -160 (460)(74.2%) 61105: BENEFITS - EI 145 420 346 -90 (256)(74.1%) Subtotal: 61000: SALARIES AND BENEFITS 7,489 22,781 17,884 28,552 28,552 10,668 59.6% 62014: UTILITIES 353,712 336,738 359,470 405,000 405,000 45,530 12.7%Savings realized under Streetlights in 2023. Forecasting to spend full budget in 2024 62016: OPERATING MATERIALS 14,842 8,732 8,713 24,300 24,300 15,587 178.9% Subtotal: 62000: MATERIALS AND SUPPLIES 368,554 345,470 368,183 429,300 429,300 61,117 16.6% 64045: CONTRACTS 277,502 409,027 475,330 360,000 460,000 (15,331)(3.2%) Subtotal: 64000: SERVICES AND CONSULTANTS 277,502 409,027 475,330 360,000 460,000 (15,331)(3.2%) 66002: DEBENT INT & CHGS (2,496)33,476 27,442 33,889 33,889 6,446 23.5% 66001: BANK CHARGES 41,399 ------ Subtotal: 66000: FINANCIAL CHARGES 38,903 33,476 27,442 33,889 33,889 6,446 23.5% 45007: TRANSFERS TO DEBT --341,265 333,582 333,582 (7,683)2.3% Subtotal: 45000: TRANSFERS TO --341,265 333,582 333,582 (7,683)2.3% Expenses Budgeted 692,447 810,753 1,230,105 1,185,323 1,285,322 55,217 4.5% Revenues: 56126: OTHER USER FEES (36,026)(22,841)(8,261)(30,000)(30,000)(21,739)263.2%Lower insurance payments for Streetlight repairs in 2023. Forecasting to budget in 2024 ($19K collected as of Sep 2024) Subtotal: 50000: REVENUES (36,026)(22,841)(8,261)(30,000)(30,000)(21,739)263.2% Revenues Budgeted (36,026)(22,841)(8,261)(30,000)(30,000)(21,739)(263.2%) Total Levy 656,420 787,913 1,221,844 1,155,323 1,255,322 33,478 (2.7%) 9 of 10 Page 62 of 76 2021 2022 2023 2024 2024 2024 Forecast vs 2024 Forecast vs Actual Actual Actual Budget Forecast 2023 Actual 2023 Actual Variance Explanation Gross Expenditures: 61001: SALARIES - F/T 78,672 99,007 87,940 87,585 87,075 (865)(1.0%) 61002: SALARIES - O/T 119 ------ 61003: SALARIES - P/T 30,639 ------ 61004: VACATION PAY 1,057 ------ 61005: SICK PAY 7,826 691 316 --(316)(100.0%) 61090: YEAR END ACCRUALS 9,690 (8,130)(73)--73 100.0% 61101: BENEFITS - OMERS 8,688 10,975 9,201 8,996 8,906 (295)(3.2%) 61102: BENEFITS - EHT 2,379 1,952 1,728 1,708 1,712 (16)(0.9%) 61103: BENEFITS - WSIB 916 734 665 657 658 (6)(0.9%) 61104: BENEFITS - CPP 5,839 4,221 4,072 4,008 4,311 239 5.9% 61105: BENEFITS - EI 2,353 1,608 1,530 1,474 1,488 (42)(2.7%) 61106: BENEFITS - DENTAL 2,384 1,970 1,792 1,848 1,725 (68)(3.8%) 61107: BENEFITS - HEALTH 3,686 3,165 3,078 2,904 2,749 (330)(10.7%) 61108: BENEFITS - LTD/ADD 2,532 3,457 2,679 26 689 (1,990)(74.3%) 61109: BENEFITS - OTHER 164 --333 224 224 - Subtotal: 61000: SALARIES AND BENEFITS 156,945 119,651 112,928 109,538 109,538 (3,390)(3.0%) 62016: OPERATING MATERIALS 56,727 49,785 50,902 54,100 54,100 3,198 6.3% 62025: PROGRAM MATERIALS -72 5,482 1,600 1,600 (3,882)(70.8%) Subtotal: 62000: MATERIALS AND SUPPLIES 56,727 49,857 56,384 55,700 55,700 (684)(1.2%) 64008: MOBILE PLAN CHARGES 230 --550 550 550 - 64029: ADVERTISING SERVICES 15,406 37,014 25,037 26,400 26,400 1,362 5.4% 64045: CONTRACTS 786,912 814,316 747,197 859,000 759,000 11,802 1.6% 64047: COLLECTION CONTRACTS 1,821,648 1,707,638 1,787,120 1,879,800 1,779,800 (7,320)(0.4%) 65901: COST RECOVERY -(1,606)(125)--125 100.0% Subtotal: 64000: SERVICES AND CONSULTANTS 2,624,195 2,557,363 2,559,230 2,765,750 2,565,749 6,519 0.3% Expenses Budgeted 2,837,866 2,726,870 2,728,542 2,930,988 2,730,987 2,445 0.1% Revenues: 54100: OTHER GRANTS (345,238)(323,756)(322,818)(260,000)(260,000)62,818 (19.5%) 2024 forecast to be revised to reflect expected grant funding of $320K. 56125: BLUE BOX SALES (1,879)(20,002)(12,647)(21,000)(16,000)(3,353)26.5% 56126: OTHER USER FEES (14,174)(63,132)(68,852)(61,180)(48,181)20,672 (30.0%) 2024 forecast to be revised to match 2024 budget of $61,180. Subtotal: 50000: REVENUES (361,291)(406,891)(404,317)(342,180)(324,180)80,137 (19.8%) Revenues Budgeted (361,291)(406,891)(404,317)(342,180)(324,180)80,137 19.8% Total Levy 2,476,574 2,319,980 2,324,225 2,588,808 2,406,807 82,582 (3.6%) 10 of 10 Page 63 of 76 +/- $20,000 AND +/- 10% Change 2021 2022 2023 2024 2024 2024 Forecast vs 2024 Forecast vs Actual Actual Actual Budget Forecast 2023 Actual 2023 Actual Variance Explanation Gross Expenditures: 61001: SALARIES - F/T 247,874 252,618 229,771 275,641 275,641 45,870 20.0%Savings incurred in 2023 due to transition from outgoing Director to new Director. 61002: SALARIES - O/T ----71 71 - 61004: VACATION PAY --7,071 --(7,071)(100.0%) 61005: SICK PAY 1,059 4,972 3,340 -986 (2,355)(70.5%) 61090: YEAR END ACCRUALS (20,572)(6,186)13,947 -(15,889)(29,836)(213.9%)Reversal of 2023 year-end accrual offset under S&B lines in 2024. 61101: BENEFITS - OMERS 29,818 31,377 26,326 33,381 33,381 7,055 26.8% 61102: BENEFITS - EHT 4,899 5,257 4,778 5,452 5,452 674 14.1% 61103: BENEFITS - WSIB 1,243 1,321 2,194 2,097 2,097 (97)(4.4%) 61104: BENEFITS - CPP 6,385 7,011 7,609 8,016 8,016 407 5.4% 61105: BENEFITS - EI 2,512 2,647 2,824 2,947 2,948 123 4.4% 61106: BENEFITS - DENTAL 3,589 3,240 3,135 3,696 3,696 561 17.9% 61107: BENEFITS - HEALTH 5,551 5,213 5,378 5,808 5,808 430 8.0% 61108: BENEFITS - LTD/ADD 5,016 4,535 5,714 7,157 7,157 1,443 25.3% 61109: BENEFITS - OTHER 671 --1,062 1,062 1,062 - 61902:SALARY SAVINGS ---(32,150)--- Subtotal: 61000: SALARIES AND BENEFITS 288,045 312,006 312,088 313,108 330,427 18,339 5.9% 62001: OFFICE SUPPLIES 5,589 3,219 5,955 3,225 1,886 (4,069)(68.3%) 62005: SUBSCRIPTIONS/PUBLICATIONS ---100 --- 62007: OFFICE EQUIPMENT --2,143 --(2,143)(100.0%) 62008: COMPUTER SUPPLIES --4,888 -708 (4,181)(85.5%) 62019: LICENSES --5,176 --(5,176)(100.0%) 62045: MEETING EXPENSES 1,171 3,720 4,345 1,730 1,730 (2,615)(60.2%) 62999: CLEARING/SUSPENSE ACCOUNT 1,189 370 69 -3,718 3,648 5,250.5% Subtotal: 62000: MATERIALS AND SUPPLIES 7,949 7,309 22,577 5,055 8,041 (14,536)(64.4%) 64002: CONFERENCES ---450 --- 64008: MOBILE PLAN CHARGES 1,553 773 312 1,375 17 (294)(94.4%) 64013: COURSES & SEMINARS 4,487 14,104 11,832 15,850 15,191 3,360 28.4% 64015: MEMBERSHIPS 3,551 1,202 5,977 4,500 3,736 (2,241)(37.5%) 64016: MILEAGE 414 -8 500 -(8)(100.0%) 64017: VEHICLE ALLOWANCE 803 3,606 3,942 3,942 3,941 -- 64022: EQUIPMENT SERVICE CONTRACTS 2,650 1,872 1,856 --(1,856)(100.0%) 64032: PHOTOCOPIER CHARGES 9,646 9,717 9,113 9,717 7,000 (2,113)(23.2%) Subtotal: 64000: SERVICES AND CONSULTANTS 23,104 31,273 33,039 36,334 29,886 (3,153)(9.5%) Expenses Budgeted 319,097 350,588 367,703 354,497 368,353 650 0.2% Revenues: Total Levy 319,097 350,588 367,703 354,497 368,353 650 (0.2%) FAC Line-by-Line 2OPA: Operational Services Director's Office Report Run: January 17, 2025 12:17 PM 1 of 10 Attachment 2 Page 64 of 76 +/- $20,000 AND +/- 10% Change 2021 2022 2023 2024 2024 2024 Forecast vs 2024 Forecast vs Actual Actual Actual Budget Forecast 2023 Actual 2023 Actual Variance Explanation Gross Expenditures: 61001: SALARIES - F/T 368,991 396,868 426,790 412,666 412,666 (14,124)(3.3%) 61002: SALARIES - O/T 8,700 15,960 17,073 -12,570 (4,503)(26.4%) 61003: SALARIES - P/T --51 --(51)(100.0%) 61004: VACATION PAY ----3,960 3,960 - 61005: SICK PAY 28,330 10,666 8,269 -23,784 15,515 187.6% 61090: YEAR END ACCRUALS (1,023)(3,411)3,978 -(16,257)(20,235)(508.6%)Reversal of 2023 year-end accrual offset under S&B lines in 2024. 61101: BENEFITS - OMERS 41,359 41,101 44,040 41,293 41,294 (2,746)(6.2%) 61102: BENEFITS - EHT 8,210 8,307 8,854 8,047 8,047 (808)(9.1%) 61103: BENEFITS - WSIB 3,158 3,195 3,406 3,095 3,095 (310)(9.1%) 61104: BENEFITS - CPP 17,096 17,710 19,056 20,004 20,004 948 5.0% 61105: BENEFITS - EI 6,756 6,751 7,194 7,368 7,368 175 2.4% 61106: BENEFITS - DENTAL 8,993 8,196 7,645 9,240 6,610 (1,035)(13.5%) 61107: BENEFITS - HEALTH 14,162 13,410 13,245 14,520 11,964 (1,281)(9.7%) 61108: BENEFITS - LTD/ADD 9,462 11,153 10,129 9,327 8,986 (1,143)(11.3%) 61109: BENEFITS - OTHER 903 --1,568 --- Subtotal: 61000: SALARIES AND BENEFITS 515,096 529,906 569,730 527,128 544,092 (25,638)(4.5%) 62011: CLOTHING ALLOWANCE 2,129 3,153 3,898 3,450 3,450 (449)(11.5%) 62016: OPERATING MATERIALS 16,438 26,330 32,276 14,425 8,561 (23,715)(73.5%)Higher expenses recognized in 2023. Actual expenses in 2024 will be closer to budget. 62019: LICENSES 54,794 44,807 60,748 40,000 40,000 (20,748)(34.2%)MTO vehicle sticker renewals vary due to light and medium equipment can be two year renewals vs annually. 62020: VEHICLE SUPPLIES 263,922 354,819 369,999 316,500 316,500 (53,498)(14.5%)Parts can vary annually based on equipment use and price increases due to global economy. 62021: EQUIPMENT - OTHER 40,205 66,383 96,360 66,701 66,701 (29,659)(30.8%)Fleet has grown yearly resulting in more equipment repairs and maintenance costs. 62022: TOOLS 4,920 9,315 4,799 5,400 5,400 601 12.5% 62048: FUEL COSTS 284,292 419,543 381,936 408,000 408,000 26,064 6.8% 63902: INTERNAL EQUIPMENT RENTAL (306,600)(322,600)(322,600)(322,600)(322,600)-- 63903: INTERNAL FUEL (29,851)(81,017)(78,610)(60,000)(71,469)7,141 9.1% Subtotal: 62000: MATERIALS AND SUPPLIES 330,250 520,733 548,806 471,876 454,543 (94,262)(17.2%) 64008: MOBILE PLAN CHARGES 830 784 668 713 488 (180)(26.9%) 64013: COURSES & SEMINARS --68 --(68)(100.0%) 64019: VEHICLE REPAIRS 185,672 155,336 148,981 152,670 152,670 3,689 2.5% 64026: INSURANCE FEES 30,323 36,151 30,568 39,774 39,774 9,206 30.1% 64036: POLICE SEARCHES --200 --(200)(100.0%) Subtotal: 64000: SERVICES AND CONSULTANTS 216,826 192,271 180,484 193,157 192,932 12,448 6.9% 45003: TRANSFERS TO RESERVES 266,863 228,391 29,360 45,000 139,574 110,214 (375.4%) Subtotal: 45000: TRANSFERS TO 266,863 228,391 29,360 45,000 139,574 110,214 (375.4%) Expenses Budgeted 1,329,035 1,471,301 1,328,379 1,237,161 1,331,141 2,762 0.2% Revenues: 56126: OTHER USER FEES (261,015)(97,539)(29,360)(52,000)(139,575)(110,215)375.4%Higher asset disposal revenues in 2024 compared to 2023. Subtotal: 50000: REVENUES (261,015)(97,539)(29,360)(52,000)(139,575)(110,215)375.4% 41003: TRANSFERS FROM RESERVES --(8,200)--8,200 (100.0%) FAC Line-by-Line 2FLT: Vehicle And Equipment Maintenance Report Run: January 17, 2025 12:17 PM 2 of 10 Page 65 of 76 +/- $20,000 AND +/- 10% Change 2021 2022 2023 2024 2024 2024 Forecast vs 2024 Forecast vs Actual Actual Actual Budget Forecast 2023 Actual 2023 Actual Variance Explanation FAC Line-by-Line 2FLT: Vehicle And Equipment Maintenance Report Run: January 17, 2025 12:17 PM Subtotal: 41000: TRANSFERS FROM RESERVE --(8,200)--8,200 (100.0%) Revenues Budgeted (261,015)(97,539)(37,560)(52,000)(139,575)(102,015)(271.6%) Total Levy 1,068,020 1,373,763 1,290,820 1,185,161 1,191,567 (99,253)7.7% 3 of 10 Page 66 of 76 +/- $20,000 AND +/- 10% Change 2021 2022 2023 2024 2024 2024 Forecast vs 2024 Forecast vs Actual Actual Actual Budget Forecast 2023 Actual 2023 Actual Variance Explanation Gross Expenditures: 61001: SALARIES - F/T 1,567,643 1,625,346 1,783,218 1,707,228 1,913,765 130,547 7.3% 61002: SALARIES - O/T 59,999 93,201 65,443 48,753 79,939 14,497 22.2% 61003: SALARIES - P/T 221,066 231,537 273,962 511,303 345,941 71,979 26.3% 1. Union agreement included in 2024 budget. 2. Seasonal and summer positions are budgeted under PT salaries but charged to FT salaries. 3. 2023 summer positions were not all filled due to shortfall of willing applicants. 61004: VACATION PAY -1,958 1,899 -3,404 1,505 79.3% 61005: SICK PAY 21,716 33,223 29,348 -37,731 8,383 28.6% 61090: YEAR END ACCRUALS 2,580 (16,221)(1,816)-(34,274)(32,458)(1,786.9%)Reversal of 2023 year-end accrual offset under S&B lines in 2024. 61101: BENEFITS - OMERS 148,870 147,872 170,376 160,923 170,390 14 - 61102: BENEFITS - EHT 37,393 38,886 42,129 43,492 47,809 5,681 13.5% 61103: BENEFITS - WSIB 14,033 14,437 15,968 16,863 18,519 2,551 16.0% 61104: BENEFITS - CPP 81,609 90,295 100,917 107,571 118,633 17,716 17.6% 61105: BENEFITS - EI 32,869 35,756 38,847 44,147 48,805 9,958 25.6% 61106: BENEFITS - DENTAL 28,479 22,667 25,752 38,808 31,354 5,602 21.8% 61107: BENEFITS - HEALTH 44,871 38,269 44,189 60,984 51,424 7,234 16.4% 61108: BENEFITS - LTD/ADD 35,604 43,982 39,648 38,520 39,679 31 0.1% 61109: BENEFITS - OTHER 3,146 --6,318 --- Subtotal: 61000: SALARIES AND BENEFITS 2,299,878 2,401,206 2,629,879 2,784,910 2,873,117 243,239 9.2% 62001: OFFICE SUPPLIES 1,972 756 568 2,040 1,249 680 119.8% 62010: SAFETY SUPPLIES 5,993 9,257 6,147 7,800 11,390 5,243 85.3% 62011: CLOTHING ALLOWANCE 9,514 11,543 19,075 12,000 12,000 (7,075)(37.1%) 62014: UTILITIES 105,637 87,921 80,412 85,000 70,263 (10,149)(12.6%) 62016: OPERATING MATERIALS 95,715 84,489 83,880 75,740 75,740 (8,140)(9.7%) 62020: VEHICLE SUPPLIES --1,174 --(1,174)(100.0%) 62021: EQUIPMENT - OTHER 29,058 20,091 25,452 12,500 19,972 (5,480)(21.5%) 62022: TOOLS 4,171 934 1,139 3,775 1,611 472 41.4% 62023: PATHWAY MAINTENANCE MATERIALS 40,813 49,856 37,759 48,650 69,585 31,826 84.3%$10K in expenses posted here to be reallocated to AM0356 Playground Replacement - Town Park 62024: FENCE MATERIALS 9,468 18,751 16,337 12,950 12,950 (3,387)(20.7%) 62025: PROGRAM MATERIALS --360 --(360)(100.0%) 62045: MEETING EXPENSES 14 458 1,487 460 (212)(1,699)(114.3%) 62049: SIGNAGE 12,107 2,085 14,778 5,400 5,400 (9,379)(63.5%) 62050: FIELD PAINT 5,535 15,478 15,667 27,600 21,666 5,999 38.3% 62051: HORTICULTURE PROGRAM 41,868 30,994 30,065 46,800 36,057 5,992 19.9% 62052: FERT/GRASS SEED 28,867 36,664 24,748 35,700 11,296 (13,453)(54.4%) 62053: PARK ELEC/LIGHTING 37,450 24,610 58,571 23,650 49,272 (9,300)(15.9%) 62054: IRRIGATION 1,722 5,028 -5,500 4,128 4,128 - Subtotal: 62000: MATERIALS AND SUPPLIES 429,903 398,914 417,619 405,565 402,365 (15,255)(3.7%) 64008: MOBILE PLAN CHARGES 14,580 9,060 8,905 12,073 8,863 (42)(0.5%) 64013: COURSES & SEMINARS 1,134 2,499 2,790 --(2,790)(100.0%) 64015: MEMBERSHIPS 1,937 2,465 5,272 1,560 1,560 (3,711)(70.4%) 64016: MILEAGE 223 429 358 750 347 (11)(3.2%) 64024: PROPERTY IMPROVEMENT 40,931 33,137 63,563 43,350 57,516 (6,047)(9.5%) 64025: BUILDING REPAIR & MAINTENANCE 38,121 83,326 101,937 82,200 86,994 (14,943)(14.7%) FAC Line-by-Line 2PRK: Parks Report Run: January 17, 2025 12:17 PM 4 of 10 Page 67 of 76 +/- $20,000 AND +/- 10% Change 2021 2022 2023 2024 2024 2024 Forecast vs 2024 Forecast vs Actual Actual Actual Budget Forecast 2023 Actual 2023 Actual Variance Explanation FAC Line-by-Line 2PRK: Parks Report Run: January 17, 2025 12:17 PM 64030: CONSULTING 8,237 -3,053 16,050 16,050 12,997 425.7% 64032: PHOTOCOPIER CHARGES 4,663 4,696 4,502 4,930 4,930 428 9.5% 64034: PURCHASE OF TREES 184,420 71,507 121,949 89,000 89,000 (32,949)(27.0%)One-time replacement of trees in 2023 that were damaged from 2022 storm. 64036: POLICE SEARCHES --595 --(595)(100.0%) 64045: CONTRACTS 11,783 6,361 10,669 10,100 10,990 322 3.0% 64048: WASTE DISPOSAL FEE 4,406 9,668 17,240 28,000 12,539 (4,702)(27.3%) 64049: CONTRACTS - GRASS CUTTING 23,816 5,742 12,196 24,000 17,123 4,927 40.4% 64062: REALTY TAXES 5,176 -5,810 5,200 5,200 (610)(10.5%) 64071: SECURITY 82,587 41,377 44,940 41,000 36,267 (8,673)(19.3%) 64072: ARBORCULTURAL CONTRACT 84,654 203,145 105,512 81,600 85,620 (19,892)(18.9%) 64073: SHRUB BED MAINT 106,713 96,809 131,088 134,000 102,795 (28,293)(21.6%)Maintenance completed in 2024 was less than originally planned 64137: ACTIVE NET CHARGES & FEES 1,056 1,537 2,908 3,000 5,537 2,629 90.4% 64139:ABORETUM SERVICES --72,488 68,350 68,350 (4,138)(5.7%) 64141: EAB TREE REMOVAL & REPLACE -754 245,648 220,900 154,665 (90,983)(37.0%)Fewer tree removals and replacements expected in 2024. Subtotal: 64000: SERVICES AND CONSULTANTS 614,438 572,511 961,423 866,063 764,346 (197,077)(20.5%) 45003: TRANSFERS TO RESERVES 415,051 581,618 493,281 124,500 319,121 (174,160)35.3% Subtotal: 45000: TRANSFERS TO 415,051 581,618 493,281 124,500 319,121 (174,160)35.3% Expenses Budgeted 3,759,269 3,954,250 4,502,202 4,181,038 4,358,949 (143,253)(3.2%) Revenues: 52303: BALL DIAMOND/SOCCER USER FEES (149,620)(213,184)(283,377)(319,500)(310,623)(27,246)9.6% 52106: PARKS PLANNING - LANDSCAPE FEES (24,976)(12,868)(10,676)(1,000)(40,320)(29,644)277.7%2024 YTD Parks planning revenue higher than 2023 totals. 52125:SUBDIVISION ENTRY FEATURES MTCE FEES ---(1,000)(1,000)(1,000)- 52601: CONTRIBUTIONS FROM DEVELOPERS (115,600)(115,600)(182,600)(115,600)(134,867)47,733 (26.1%)2024 Budget moved to line below - 41003 Transfers From Reserves ($68,350) 54001: FEDERAL GRANTS/CONTRIBUTION (90,839)(31,500)(2,170)--2,170 (100.0%) 54005: PROVINCIAL GRANTS/CONTRIBUTIONS (17,460)------ 54100: OTHER GRANTS --(5,062)--5,062 (100.0%) 56004: PLANTING COMPENSATION FEES (18,781)(199,746)(302,657)(26,000)46,337 348,994 (115.3%)Higher tree compensation fees in 2023, refund issued in 2024 for fees collected in 2022. 56402: DONATIONS (50,000)(10,809)(16,148)(10,000)(19,344)(3,196)19.8% 56112: SUBDIVISION APPLICATION FEES (189,012)(155,976)(75,481)(50,000)(230,043)(154,562)204.8%Fees collected in 2024 are greater than in 2023. 56113: SITE PLAN APPLICATION FEES (150,782)(125,446)(97,967)(40,000)(87,595)10,372 (10.6%) 56126: OTHER USER FEES (30,825)(42,380)(41,027)(36,370)(39,528)1,498 (3.7%) 56501: DO NOT USE - CONTRIBUTIONS FROM DEVELOPERS 115,600 ------ Subtotal: 50000: REVENUES (722,295)(907,508)(1,017,164)(599,470)(816,982)200,182 (19.7%) 41003: TRANSFERS FROM RESERVES (75,000)(75,000)(159,267)(143,350)(143,350)15,917 (10.0%) Subtotal: 41000: TRANSFERS FROM RESERVE (75,000)(75,000)(159,267)(143,350)(143,350)15,917 (10.0%) Revenues Budgeted (797,295)(982,508)(1,176,431)(742,820)(960,332)216,099 18.4% 5 of 10 Page 68 of 76 +/- $20,000 AND +/- 10% Change 2021 2022 2023 2024 2024 2024 Forecast vs 2024 Forecast vs Actual Actual Actual Budget Forecast 2023 Actual 2023 Actual Variance Explanation FAC Line-by-Line 2PRK: Parks Report Run: January 17, 2025 12:17 PM Total Levy 2,961,975 2,971,741 3,325,771 3,438,218 3,398,617 72,846 (2.2%) 6 of 10 Page 69 of 76 +/- $20,000 AND +/- 10% Change 2021 2022 2023 2024 2024 2024 Forecast vs 2024 Forecast vs Actual Actual Actual Budget Forecast 2023 Actual 2023 Actual Variance Explanation Gross Expenditures: 61001: SALARIES - F/T 445,520 126,792 106,138 282,026 52,336 (53,802)(50.7%)Fewer weather events in 2023 resulted in less staff time charged to Winter Maintenance. 61002: SALARIES - O/T 13,943 16,978 7,977 15,982 4,015 (3,963)(49.7%) 61003: SALARIES - P/T 42,637 --164,538 164,538 164,538 - 61004: VACATION PAY 1,057 ------ 61005: SICK PAY -562 966 --(966)(100.0%) 61090: YEAR END ACCRUALS (1,284)------ 61101: BENEFITS - OMERS 51,423 17,532 13,880 25,247 7,456 (6,424)(46.3%) 61102: BENEFITS - EHT 10,945 2,815 2,250 6,095 1,079 (1,171)(52.1%) 61103: BENEFITS - WSIB 4,208 1,039 830 2,344 419 (412)(49.6%) 61104: BENEFITS - CPP 26,989 5,806 5,235 14,600 1,612 (3,623)(69.2%) 61105: BENEFITS - EI 11,342 2,234 2,080 6,183 584 (1,496)(71.9%) 61106: BENEFITS - DENTAL 10,047 2,367 1,740 6,838 741 (999)(57.4%) 61107: BENEFITS - HEALTH 16,206 3,882 3,053 10,745 1,303 (1,750)(57.3%) 61108: BENEFITS - LTD/ADD 9,250 3,768 2,460 6,326 1,392 (1,068)(43.4%) 61109: BENEFITS - OTHER 1,665 --1,066 --- Subtotal: 61000: SALARIES AND BENEFITS 643,948 183,776 146,609 541,990 235,475 88,866 60.6% 62016: OPERATING MATERIALS 432,394 549,191 499,570 444,460 444,460 (55,110)(11.0%)Higher salt purchases than budgeted in 2023 Subtotal: 62000: MATERIALS AND SUPPLIES 432,394 549,191 499,570 444,460 444,460 (55,110)(11.0%) 64045: CONTRACTS 963,281 854,269 713,149 766,100 766,100 52,951 7.4% Subtotal: 64000: SERVICES AND CONSULTANTS 963,281 854,269 713,149 766,100 766,100 52,951 7.4% 45003: TRANSFERS TO RESERVES 4,711 228,237 37,667 4,711 104,711 67,044 (178.0%) Subtotal: 45000: TRANSFERS TO 4,711 228,237 37,667 4,711 104,711 67,044 (178.0%) Expenses Budgeted 2,044,334 1,815,473 1,396,995 1,757,261 1,550,746 153,751 11.0% Revenues: 56126: OTHER USER FEES (10,363)(10,363)(13,500)(13,500)(17,434)(3,934)29.1% Subtotal: 50000: REVENUES (10,363)(10,363)(13,500)(13,500)(17,434)(3,934)29.1% 41003: TRANSFERS FROM RESERVES --(4,896)(150,000)(150,000)(145,104)2,963.6%Contribute $150K in estimated surplus to winter management reserve in 2024. Subtotal: 41000: TRANSFERS FROM RESERVE --(4,896)(150,000)(150,000)(145,104)2,963.6% Revenues Budgeted (10,363)(10,363)(18,397)(163,500)(167,434)(149,038)(810.1%) Total Levy 2,033,971 1,805,110 1,378,599 1,593,761 1,383,312 4,713 (0.3%) FAC Line-by-Line 2SNM: Winter Maintenance Report Run: January 17, 2025 12:17 PM 7 of 10 Page 70 of 76 +/- $20,000 AND +/- 10% Change 2021 2022 2023 2024 2024 2024 Forecast vs 2024 Forecast vs Actual Actual Actual Budget Forecast 2023 Actual 2023 Actual Variance Explanation Gross Expenditures: 61001: SALARIES - F/T 742,188 1,038,657 1,273,054 1,220,081 1,361,700 88,645 7.0% 61002: SALARIES - O/T 25,302 49,237 36,492 6,382 55,856 19,364 53.1% 61003: SALARIES - P/T 15,409 -3,986 14,538 -(3,986)(100.0%) 61004: VACATION PAY 1,923 ------ 61005: SICK PAY 38,105 58,506 37,472 -33,241 (4,231)(11.3%) 61090: YEAR END ACCRUALS 3,927 (14,063)5,813 -(31,819)(37,632)(647.4%)Reversal of 2023 year-end accrual offset under S&B lines in 2024. 61101: BENEFITS - OMERS 75,370 101,719 127,025 112,929 142,240 15,215 12.0% 61102: BENEFITS - EHT 16,131 22,344 26,358 24,036 28,475 2,117 8.0% 61103: BENEFITS - WSIB 6,153 8,488 9,311 9,380 10,779 1,468 15.8% 61104: BENEFITS - CPP 33,539 52,298 55,597 60,667 66,382 10,784 19.4% 61105: BENEFITS - EI 12,688 19,972 22,810 23,891 28,542 5,732 25.1% 61106: BENEFITS - DENTAL 19,543 21,844 23,073 28,736 27,125 4,052 17.6% 61107: BENEFITS - HEALTH 30,580 36,713 41,629 45,157 46,532 4,903 11.8% 61108: BENEFITS - LTD/ADD 19,383 27,645 28,999 28,051 29,421 422 1.5% 61109: BENEFITS - OTHER 1,078 --4,562 --- Subtotal: 61000: SALARIES AND BENEFITS 1,041,320 1,423,359 1,691,621 1,578,410 1,798,472 106,851 6.3% 62011: CLOTHING ALLOWANCE 8,858 10,871 14,172 14,000 11,356 (2,816)(19.9%) 62016: OPERATING MATERIALS 97,960 83,390 105,757 81,050 81,050 (24,708)(23.4%)Higher expenses recognized in 2023. Forecasting to budget in 2024. 62045: MEETING EXPENSES --11,835 -559 (11,275)(95.3%) Subtotal: 62000: MATERIALS AND SUPPLIES 106,817 94,262 131,764 95,050 92,966 (38,799)(29.4%) 64008: MOBILE PLAN CHARGES 12,266 9,819 10,871 12,400 12,400 1,529 14.1% 64045: CONTRACTS 617,768 729,477 727,558 803,650 906,779 179,221 24.6%$100K unbudgeted repairs to sidewalk trip ledges exceeding 20mm and $60K unbudgeted road repair on Vandorf Sideroad in 2024. Subtotal: 64000: SERVICES AND CONSULTANTS 630,035 739,296 738,429 816,050 919,179 180,750 24.5% Expenses Budgeted 1,778,172 2,256,916 2,561,814 2,489,510 2,810,616 248,802 9.7% Revenues: 52126: MORTGAGE ADMIN FEE ----393 393 - 54001: FEDERAL GRANTS/CONTRIBUTION -(2,100)----- 56126: OTHER USER FEES (100,557)(132,738)(116,796)(115,700)(262,804)(146,008)125.0%Higher road access permit fee revenue in 2024. Subtotal: 50000: REVENUES (100,557)(134,838)(116,796)(115,700)(262,411)(145,615)124.7% 41003: TRANSFERS FROM RESERVES (200,000)(194,649)(300,000)(300,000)(300,000)-- Subtotal: 41000: TRANSFERS FROM RESERVE (200,000)(194,649)(300,000)(300,000)(300,000)-- Revenues Budgeted (300,557)(329,488)(416,796)(415,700)(562,411)(145,615)(34.9%) Total Levy 1,477,615 1,927,429 2,145,018 2,073,810 2,248,205 103,187 (4.8%) FAC Line-by-Line 2RDM: Non-Winter Maintenance Report Run: January 17, 2025 12:17 PM 8 of 10 Page 71 of 76 +/- $20,000 AND +/- 10% Change 2021 2022 2023 2024 2024 2024 Forecast vs 2024 Forecast vs Actual Actual Actual Budget Forecast 2023 Actual 2023 Actual Variance Explanation Gross Expenditures: 61003: SALARIES - P/T 6,344 18,945 15,139 28,552 10,280 (4,859)(32.1%) 61101: BENEFITS - OMERS 590 2,154 1,372 -745 (627)(45.7%) 61102: BENEFITS - EHT 128 369 295 -161 (134)(45.3%) 61103: BENEFITS - WSIB 49 142 113 -62 (51)(45.3%) 61104: BENEFITS - CPP 233 751 620 -281 (339)(54.7%) 61105: BENEFITS - EI 145 420 346 -192 (153)(44.3%) Subtotal: 61000: SALARIES AND BENEFITS 7,489 22,781 17,884 28,552 11,722 (6,163)(34.5%) 62014: UTILITIES 353,712 336,738 359,470 405,000 405,000 45,530 12.7%Savings realized under Streetlights in 2023. Forecasting to spend full budget in 2024 62016: OPERATING MATERIALS 14,842 8,732 8,713 24,300 13,266 4,552 52.2% Subtotal: 62000: MATERIALS AND SUPPLIES 368,554 345,470 368,183 429,300 418,265 50,082 13.6% 64045: CONTRACTS 277,502 409,027 475,330 360,000 435,378 (39,952)(8.4%) Subtotal: 64000: SERVICES AND CONSULTANTS 277,502 409,027 475,330 360,000 435,378 (39,952)(8.4%) 66002: DEBENT INT & CHGS (2,496)33,476 27,442 33,889 33,889 6,446 23.5% 66001: BANK CHARGES 41,399 ------ Subtotal: 66000: FINANCIAL CHARGES 38,903 33,476 27,442 33,889 33,889 6,446 23.5% 45007: TRANSFERS TO DEBT --341,265 333,582 349,124 7,860 (2.3%) Subtotal: 45000: TRANSFERS TO --341,265 333,582 349,124 7,860 (2.3%) Expenses Budgeted 692,447 810,753 1,230,105 1,185,323 1,248,378 18,273 1.5% Revenues: 56126: OTHER USER FEES (36,026)(22,841)(8,261)(30,000)(35,304)(27,043)327.4%Lower insurance payments for Streetlight repairs in 2023. Subtotal: 50000: REVENUES (36,026)(22,841)(8,261)(30,000)(35,304)(27,043)327.4% Revenues Budgeted (36,026)(22,841)(8,261)(30,000)(35,304)(27,043)(327.4%) Total Levy 656,420 787,913 1,221,844 1,155,323 1,213,074 (8,770)0.7% FAC Line-by-Line 2TRF: Traffic Report Run: January 17, 2025 12:17 PM 9 of 10 Page 72 of 76 +/- $20,000 AND +/- 10% Change 2021 2022 2023 2024 2024 2024 Forecast vs 2024 Forecast vs Actual Actual Actual Budget Forecast 2023 Actual 2023 Actual Variance Explanation Gross Expenditures: 61001: SALARIES - F/T 78,672 99,007 87,940 87,585 98,760 10,820 12.3% 61002: SALARIES - O/T 119 ------ 61003: SALARIES - P/T 30,639 ------ 61004: VACATION PAY 1,057 ------ 61005: SICK PAY 7,826 691 316 -341 25 8.0% 61090: YEAR END ACCRUALS 9,690 (8,130)(73)-(13,792)(13,719)(18,881.0%) 61101: BENEFITS - OMERS 8,688 10,975 9,201 8,996 8,996 (205)(2.2%) 61102: BENEFITS - EHT 2,379 1,952 1,728 1,708 1,708 (20)(1.1%) 61103: BENEFITS - WSIB 916 734 665 657 657 (7)(1.1%) 61104: BENEFITS - CPP 5,839 4,221 4,072 4,008 4,008 (65)(1.6%) 61105: BENEFITS - EI 2,353 1,608 1,530 1,474 1,473 (57)(3.7%) 61106: BENEFITS - DENTAL 2,384 1,970 1,792 1,848 1,848 56 3.1% 61107: BENEFITS - HEALTH 3,686 3,165 3,078 2,904 2,904 (174)(5.7%) 61108: BENEFITS - LTD/ADD 2,532 3,457 2,679 26 2,635 (44)(1.6%) 61109: BENEFITS - OTHER 164 --333 --- Subtotal: 61000: SALARIES AND BENEFITS 156,945 119,651 112,928 109,538 109,539 (3,389)(3.0%) 62016: OPERATING MATERIALS 56,727 49,785 50,902 54,100 54,100 3,198 6.3% 62025: PROGRAM MATERIALS -72 5,482 1,600 4,197 (1,285)(23.4%) Subtotal: 62000: MATERIALS AND SUPPLIES 56,727 49,857 56,384 55,700 58,297 1,912 3.4% 64008: MOBILE PLAN CHARGES 230 --550 688 688 - 64029: ADVERTISING SERVICES 15,406 37,014 25,037 26,400 15,672 (9,365)(37.4%) 64045: CONTRACTS 786,912 814,316 747,197 859,000 847,500 100,303 13.4%Forecasting waste collection to budget in 2024 64047: COLLECTION CONTRACTS 1,821,648 1,707,638 1,787,120 1,879,800 1,879,800 92,680 5.2% 65901: COST RECOVERY -(1,606)(125)--125 100.0% Subtotal: 64000: SERVICES AND CONSULTANTS 2,624,195 2,557,363 2,559,230 2,765,750 2,743,660 184,430 7.2% Expenses Budgeted 2,837,866 2,726,870 2,728,542 2,930,988 2,911,496 182,953 6.7% Revenues: 54100: OTHER GRANTS (345,238)(323,756)(322,818)(260,000)(334,325)(11,507)3.6% 56125: BLUE BOX SALES (1,879)(20,002)(12,647)(21,000)(7,274)5,373 (42.5%) 56126: OTHER USER FEES (14,174)(63,132)(68,852)(61,180)(73,908)(5,055)7.3% Subtotal: 50000: REVENUES (361,291)(406,891)(404,317)(342,180)(415,507)(11,190)2.8% Revenues Budgeted (361,291)(406,891)(404,317)(342,180)(415,507)(11,190)(2.8%) Total Levy 2,476,574 2,319,980 2,324,225 2,588,808 2,495,989 171,764 (7.4%) FAC Line-by-Line 2RCY: Recycling Operations Report Run: January 17, 2025 12:17 PM 10 of 10 Page 73 of 76 100 John West Way Aurora, Ontario L4G 6J1 (905) 727-3123 aurora.ca Town of Aurora Memorandum Finance Re: 2025 Finance Advisory Committee Workplan To: Finance Advisory Committee From: Jason Gaertner, Manager, Financial Management Date: January 21, 2025 Recommendation 1. That the memorandum regarding 2025 Finance Advisory Committee Workplan be received; and 2. That the Finance Advisory Committee comments regarding 2025 Finance Advisory Committee Workplan be received and referred to staff for consideration and further action as appropriate. Background To ensure that the Finance Advisory Committee is reviewing and offering feedback on the Town’s highest priority subject areas, the Committee will endorse a workplan that outlines the subject discussion areas, as well as the order in which they will them to be reviewed. Analysis Attached for the Finance Advisory Committee’s review and endorsement is its draft workplan for 2025. Attachments Attachment 1 – 2025 FAC Workplan – As of January 21, 2025 Page 74 of 76 Attachment 1 January 21, 2025 • 2025 FAC Workplan • 2025 Audit Plan • Line by line budget review o Operational Services February 18, 2025 • Major project update • ONE JIB Annual Review & OCIO model • Service delivery review update March 18, 2025 • Line by line budget review o Corporate Services • Annual audit plan update • Water / Wastewater rate review update April 15, 2025 • Revenue management policy • ONE JIB Investment Policy review • Major project update May 20, 2025 • Review of the Council 2026 budget direction • Review of proposed 2026 budget survey • Line by line budget review o Planning & Development Services June 17, 2025 • Major project update • Historical review of operating budget supporting reserve health o A 3-year analysis of the historical balances of the tax levy funded operating budget supporting reserves being:  Landscape inspection fees  Parks & Recreation development charges  Tree compensation fee reserve  Tax rate stabilization reserve  Election reserve  John West Memorial Scholarship Award  Economic development reserve Page 75 of 76 Attachment 1 July 2025 No meeting August 2025 No meeting September 16, 2025 • Prudent Investor Update • Annual Community Partner Reserve Review • Grant Policy October 21, 2025 • Major project update • Annual audit plan update November 18, 2025 No meeting December 2025 No meeting Page 76 of 76