2018 Operating Budget Final Approval Town of Aurora
Council Report No. FS17-050
Subject: 2018 Operating Budget Final Approval
Prepared by: Dan Elliott, Director of Financial Services - Treasurer
Department: Financial Services
Date: December 12, 2017
Recommendation
1. That Report No. FS17-050 be received; and
2. That the 2018 Operating Budget summarized in Attachment #1 which reflects
all revisions recommended for approval by the Budget Committee, resulting in
a total expenditure plan of $64,095,000 and a total tax levy of $44,453,300,
resulting in an estimated 3.1% increase on the Aurora share of property tax
bills, and a 2.3% residential tax bill increase when combined with the regional
and education shares of the tax bill, be approved; and
3. That the Town’s full-time staff complement be increased by three (3) to 224
staff (excluding Library Board and Central York Fire Services) as presented in
Attachment #2 and funded in the 2018 Operating Budget; and
4. That the necessary by-law be enacted at a future Council Meeting to set the
final billing 2018 tax rates and payment dates.
Executive Summary
The intent of this report is to present to Council for its approval the 2018 Operating
Budget as amended by the reviews and deliberations of Budget Committee at its recent
series of meetings.
Under Ontario Regulation 284/09, made under the Municipal Act, 2001, all Ontario
municipalities are permitted to exclude from their annual budgets a specified list of
Public Sector Accounting Board (PSAB) accounting non-cash costs. However, this
same regulation requires that if a municipality excludes any costs of this nature that they
must report to their Council on the impact of these excluded costs. Another purpose of
this report is to satisfy this disclosure requirement and to illustrate the 2018 budget in
the PSAB format.
Council Meeting Agenda Tuesday, December 12, 2017 Item R2 Page 1 of 17
December 12, 2017 Page 2 of 8 Report No. FS17-050
Background
Budget Committee has concluded its review and discussions of the draft 2018
Operating Budget. Amendments made to the draft budget during the Committee
deliberations are summarized on Attachment 1.
The Town of Aurora, like most municipalities, prepared its 2018 budget in the traditional,
cash based, balanced municipal budget approach. The Province of Ontario enacted a
regulation (O.Reg. 284/09, s.1.) under the Municipal Act, 2001, that permits all Ontario
municipalities to exclude from their annual budgets the following PSAB accounting non-
cash costs:
• amortization expenses
• post-employment benefits, and
• solid waste landfill closure and post-closure expenses (not applicable for Aurora).
Where these non-cash items have been excluded, Council are to receive:
• an estimate of the change in the accumulated surplus of the municipality to the end of the year resulting from the exclusion of any of these expenses, and
• an analysis of the estimated impact of the exclusion on the future tangible capital
asset funding requirements of the municipality.
Exclusion in the annual budget of the amortization of tangible capital assets has no
impact on the future tangible capital asset funding requirements of the Town. The Town
includes in its municipal budget allocations to capital reserves for the purposes of
funding future capital asset renewal and replacements. An approved detailed Asset
Management Plan is in place, and drives the decisions and recommendations reflected
in the detailed ten year capital and investment plan document. This long term plan
includes all replacement needs, as well as new assets required for growth and other
purposes. The long term plan is updated each year. It carefully evaluates the
adequacy of the Town’s reserves, anticipated future cash flows, and makes
recommendations for continued annual dedicated tax increases for the purpose of
increasing the capital reserve contributions for infrastructure. Council has a six year
history of making such incremental increases specifically for infrastructure as
recommended by the plan and staff. Continuing with such recommendations is
evaluated annually by Council during the annual review of the ten year capital and
investment plan, as well as the annual contribution to reserves amount included in the
budget.
Council Meeting Agenda Tuesday, December 12, 2017 Item R2 Page 2 of 17
December 12, 2017 Page 3 of 8 Report No. FS17-050
Analysis
2018 budget process continues to be guided by Council’s two foundational
documents: Council Budget Principles, and Council Budget Process
The 2018 budget process continued to be guided by the two foundational documents
that Council adopted in 2016. Council adopted these two foundational documents to set
out clearly the principles to be followed in preparing and reviewing its annual operating
and capital budgets, and the detailed process which would be followed in conducting
those reviews. The budget processes document outlines the additional role that the
Finance Advisory Committee fulfils in performing detailed departmental reviews outside
of the annual budget review and approval process.
Council directed staff to keep budget to inflation, and to add 1% for fiscal
strategies
At its July 2017 meeting, guided by the Council Budget Principles foundational
document, Council approved specific budget preparation directions for staff. The base
budget was to result in a tax increase of not more than inflation, with a further 1%
increase to assist in funding the Town’s long term financial strategies related to
unsustainable revenues and needed funding for infrastructure sustainability.
Staff presented a budget of 1.9% tax increase, plus 1% for fiscal strategies
Despite inflation reported at 2.1% for twelve months to June 2017 for the Toronto area,
staff presented Council with a base operating budget proposal with a resulting tax
increase of 1.9%, plus the 1% for fiscal strategies, leaving 0.2% available within the
maximum ceiling allotted by Council for subsequent Council funding decisions. In
addition to this draft budget, Council was presented with several budget option decision
units relating to increases in service levels in various areas for its consideration.
The Base Budget accommodated services extension to accommodate all growth, while
also making significant budget adjustments to several specific budget lines which had
become substantially out of line with historical expense or revenue realities. The base
budget presented by Council also accommodated substantial cost increases resulting
from renewal of the long term solid waste collection contract and from provincial
legislation contained in Bill 148, including the increases to minimum wage in Ontario.
Both of these major budget pressures have been planned to be phased into the budget
over two years, by drawing approximately half of the impact of these pressures from the
Town’s tax rate stabilization reserve fund for 2018, with the draw to be eliminated in
2019.
Council Meeting Agenda Tuesday, December 12, 2017 Item R2 Page 3 of 17
December 12, 2017 Page 4 of 8 Report No. FS17-050
A key fiscal strategic goal was achieved with the 2018 budget
Since the sale of Aurora Hydro in 2005, the Town has held the proceeds of the sale in
reserve, earning interest each year. Prior to the sale, the Town’s operating budget
benefitted from dividend income from the hydro to support the operations of the Town.
Since the sale, the Town’s budget has relied upon interest earned by the hydro sale
proceeds rather than the dividend. However, drawing interest from the proceeds
reserve meant that the reserve’s purchasing power was not keeping up with inflation. A
key long term financial strategy of the Town has been to gradually reduce and eliminate
the amount of interest relied upon each year. For 2018, the town’s reliance upon this
revenue source has been fully eliminated; the Town’s budget no longer has any draw
upon interest from the hydro sale proceeds reserve fund. This accomplishment has
taken many years. It means that the interest earned by the sale proceeds will now fully
accumulate within the reserve and allow the purchasing power of the principle portion to
keep pace with inflation, until needed by the Town for strategic purposes.
The Budget Committee made multiple adjustments
The Budget Committee made several adjustments, both budget reductions, as well as
budget increases. Several options presented by staff for consideration were added to
the budget. All budget adjustments made to the draft budget are detailed in Attachment
#3.
The key elements affecting the budget increase are graphically presented in Attachment
#4, while the sources of revenue and net operating budget by service is presented in
graphs in Attachment #5 and 6, respectively.
2018 budget exclusions
For compliance with the regulation, the Town of Aurora’s 2018 Business Plan,
Operating Budget and Capital Investment Program as approved excludes the following
expenses:
• an expense for the 2017 amortization of the Town’s non-water rate funded
tangible capital assets, estimated to be $8,100,000 (see Attachment #8 for
categorized list). Of this total estimated amount, $7,769,800 is directly supported
by taxes while $330,300 is indirectly supported by taxes via a funding
contribution to the Aurora Public Library and Central York Fire Services. In regards to the portion of the total estimated amortization expense that is directly
supported by the tax levy, this amount has been under-funded by $2,716,400;
meaning the budgeted contributions to capital reserves are not keeping pace with
the depreciation of the town’s tangible capital assets. The Town is able to
Council Meeting Agenda Tuesday, December 12, 2017 Item R2 Page 4 of 17
December 12, 2017 Page 5 of 8 Report No. FS17-050
partially subsidize this noted funding gap through alternative funding sources
such as federal and provincial grants and gas tax sharing, reducing this noted
gap to a remaining short-fall of $539,900.
• the current year’s post-employment benefit obligation in relation to eligible
employee early retirement and/or accrued sick leave is estimated to grow by
approximately $209,700, thus creating a related non-cash expense;
• the current year’s Workplace Safety & Insurance Board benefit obligation is
estimated to decrease by approximately $135,900, thus creating a related non-
cash savings;
• the Town does not own or operate a landfill site and therefore is not subject to solid waste landfill closure or post-closure expenses.
The 2018 operating budget was prepared in the traditional cash-based municipal budget
approach whereby total revenues (including taxation) equal total expenditures, resulting
in a “balanced” budget. Attachment #9 illustrates the differences between the 2018 approved operating budget as prepared (on a cash basis) to what it would be if
prepared under PSAB guidelines on an accrual basis budgeting. The accrual basis
approach would result in an estimated annual surplus of $19,379,400 as shown on
Attachment #2. Two significant contributors to the ‘accrual based’ estimated surplus is
the planned utilization of $11,512,100 in DC revenues and a cost recovery of $7,044,500 from the Town of Newmarket as funding sources for a group of approved
2018 capital projects. Both of these ‘revenues’ are excluded in the standard municipal
budget approach, and therefore increase total revenues under PSAB, creating surplus.
Water, Wastewater and Stormwater utility budgets
The water utility budgets will be presented for review and approval in the first quarter of
2018. Staff require additional time for their preparation due in part to organizational
changes, and required time to understand recent budget variance drivers.
Advisory Committee Review
The Finance Advisory Committee is not involved in the detailed budget reviews of the
annual budget. However, this Committee is expected to review the detailed budgets of
each operating department and budget section once per term of Council. It will continue
these reviews in the new year.
Financial Implications
The 2018 Operating Budget sets out planned expenditures totalling $64,095,000,
funded with non-tax revenues of $19,641,700, such as investment income, user fees,
Federal Gas Tax grants, and fines & penalties. The remaining $44,453,300
requirement is to be raised through property taxes.
Council Meeting Agenda Tuesday, December 12, 2017 Item R2 Page 5 of 17
December 12, 2017 Page 6 of 8 Report No. FS17-050
The final approved budget results in an average increase to the Aurora share of the
residential tax bill of 3.1%. When combined with the Region of York’s estimated tax
increase of 2.77%, and the expected net 0% increase on the provincial education share
of the tax bill, the combined effect on the overall tax bill in Aurora is expected to be
approximately 2.3% on average for residential properties. For each $100,000 of
assessment, these increases will add $9.82 to the Aurora share, and $20.12 total
overall. For an average home assessed at $770,000, the impacts are $75.61 to the
Aurora share, and $154.93 total overall, on average. All reports, presentations and
materials presented to Budget Committee will remain available to the public on the
Town’s Budget and Financial Information website page. Attachment #7 outlines
Aurora’s history of increases to its share of property tax levies.
In 2018, the budgeted contributions to infrastructure reserves are as follows:
Direct property taxation contributions $5,053,400
Expected Federal Gas Tax contributions 1,694,600
Expected Ontario Infrastructure contributions 481,900
Total non-rate funded Infrastructure renewal contributions $7,229,900
Of note is the disparity between the estimated amortization expense of $8,100,000 for
tax levy directly supported assets and the tax levy contributions to reserves of $5,053,400 (excluding federal and provincial infrastructure funding) for the rehabilitation
and replacement of these aging assets.
The Town has approved an ongoing financial strategy to close this funding disparity.
This strategy includes increasing property taxes each year by 1% more than the Consumer Price Index. This additional 1% helps to increase funding for the current and
future replacement or rehabilitation of our existing capital assets. Provided Council
continues to follow the strategy, significant sudden tax increases, new debt, or financial
crisis can be avoided in the future.
Communications Considerations
A press release and information kit has been prepared related to the approval of the
Town’s 2018 Operating Budget. Updated budget information will be included on the
reverse side of the Interim Tax Brochure included with all mailed tax billings issued in
January. The full budget details have been updated to the Town’s Budget and Financial
Information page on our website, including the capital budget approval report and
detailed capital sheets of all approved projects.
Council Meeting Agenda Tuesday, December 12, 2017 Item R2 Page 6 of 17
December 12, 2017 Page 7 of 8 Report No. FS17-050
Link to Strategic Plan
Approval of the 2018 Operating Budget provides funding support and approval for all
initiatives, services and operations of the Town, all of which support and advance the
Strategic Plan objectives. Overall, the budget leads to improving the quality of life of the
community we serve.
Alternative(s) to the Recommendation
Council may make further adjustments to the budget than those recommended by
Budget Committee.
Conclusions
The Budget Committee has concluded its review of the annual budget for 2018. The
result of the recommended budget is a 3.1% tax increase on the Aurora share of the tax
bill. When combined with the expected increases for the Region of York and the
provincial education portions, the expected overall tax impact for Aurora residents is
2.3%.
In the preparation of the 2018 operating budget, the Town of Aurora has complied with
requirements of the Municipal Act which identifies allowed exclusions from that budget
(paragraph 3, subsection 289 (2) and paragraph 3, subsection 290 (2)). This report
provides the disclosures required under this regulation which requires municipalities to
report to Council when these exclusions exist and the impact on the overall
accumulated surplus of each transaction.
Attachments
Attachment #1 - 2018 Operating Budget Summary by Department
Attachment #2 - New Full Time Staff Additions
Attachment #3 - Details of Adjustments made to the Budget by Committee
Attachment #4 - Key Budget Elements affecting tax increase
Attachment #5 - Total Revenues by Source
Attachment #6 - Net Operating Budget by Service
Attachment #7 - History of Tax Rate Increases – Aurora Share
Attachment #8 - Schedule of Estimated 2018 Tangible Capital Asset Amortization
Attachment #9 - Reconciliation of 2018 Approved Budget to the 2018 Budget as if
prepared under PSAB 3150
Council Meeting Agenda Tuesday, December 12, 2017 Item R2 Page 7 of 17
Council Meeting Agenda Tuesday, December 12, 2017Item R2 Page 8 of 17
Attachment 1
Town of Aurora
2018 Operating Budget
Summary by Department
2017 2018 TaxShown in $000's Approved Draft Dollar Pressure
Budget Budget Change Change
(adjusted)favourable / (unfavourable)Gross Expenses
Council 561.9$ 621.5$ (59.6)$ (0.1 %)
CAO's Office 1,221.7$ 1,214.0$ 7.7$ 0.0 %
Corporate Services 7,499.2$ 7,658.1$ (158.9)$ (0.4 %)
Election 2018 82.5$ 476.4$ (393.9)$ (0.9 %)
Financial Services 1,948.7$ 2,057.7$ (109.0)$ (0.3 %)
Planning and Building Services 4,665.1$ 4,821.9$ (156.8)$ (0.4 %)
Infrastructure & Environmental Services 14,539.1$ 15,396.0$ (856.9)$ (2.0 %)
Parks, Recreation & Cultural Services 9,253.9$ 9,770.5$ (516.6)$ (1.2 %)
Corporate Expenses 7,050.1$ 7,751.6$ (701.6)$ (1.6 %)
Fire Services 10,225.0$ 10,484.2$ (259.2)$ (0.6 %)
Funding Provided for Library Operations 3,767.7$ 3,843.1$ (75.4)$ (0.2 %)
Gross Expenditure (Increase) /
Decrease 60,814.8$ 64,095.0$ (3,280.2)$ (7.6 %)
Gross Revenues
Council -$ -$ -$ -
CAO's Office -$ (0.3)$ 0.3$ 0.0 %
Corporate Services (372.3)$ (378.4)$ 6.1$ 0.0 %
Election 2018 -$ (368.9)$ 368.9$ 0.9 %
Financial Services (181.4)$ (202.7)$ 21.3$ 0.0 %
Planning and Building Services (4,696.0)$ (4,465.9)$ (230.1)$ (0.5 %)
Infrastructure & Environmental Services (1,799.3)$ (1,772.6)$ (26.7)$ (0.1 %)
Parks, Recreation & Cultural Services (5,354.8)$ (5,310.2)$ (44.6)$ (0.1 %)
Corporate Revenues (6,589.3)$ (7,142.6)$ 553.3$ 1.2 %
(18,993.1)$ (19,641.7)$ 648.6$ 1.4 %
Taxation - 2016 (41,821.7) (41,821.7)$ -
Taxation - Growth from New Assessment - (1,296.5)$ 1,296.5 3.1 %
Taxation - 2018 Levy Increase - (1,335.1)$ 1,335.1 3.1 %
Gross Revenue Increase / (Decrease)(60,814.8)$ (64,095.0)$ 3,280.2$ 7.6 %
Net Expenditures/(Revenues)
Council 561.9$ 621.5$ (59.6)$ (0.1 %)
CAO's Office 1,221.7$ 1,213.7 8.0$ 0.0 %
Corporate Services 7,126.9$ 7,279.6 (152.8)$ (0.4 %)
Election 2018 82.5$ 107.5 (25.0)$ (0.1 %)
Financial Services 1,767.3$ 1,855.0 (87.7)$ (0.2 %)
Planning and Building Services (30.9)$ 356.0 (386.9)$ (0.9 %)
Infrastructure & Environmental Services 12,739.8$ 13,623.4 (883.6)$ (2.0 %)
Parks, Recreation & Cultural Services 3,899.1$ 4,460.3 (561.2)$ (1.3 %)
Corporate Revenues & Expenses 460.8$ 609.0 (148.3)$ (0.3 %)
Fire Services 10,225.0$ 10,484.2 (259.2)$ (0.6 %)
Funding Provided for Library Operations 3,767.7$ 3,843.1 (75.4)$ (0.2 %)
41,821.7$ 44,453.3$ (2,631.6)$ (6.1 %)
Taxation (41,821.7)$ (44,453.3) 2,631.6$ 6.1 %
-$ -$ -$ -
Council Meeting Agenda Tuesday, December 12, 2017 Item R2 Page 9 of 17
Town of Aurora Attachment 2
2018 Operating Budget Impacts
CONVERTED AND NEW POSITIONS IN 2018 BUDGET
2018 Budget Requests
Full-Time
Net Cost Complement
2017 Budget Approved Full-Time Complement 221
Full-Time Staffing - Conversion Requests
Uplift P/T to F/T Facility Advertising & Sponsorship Coordinator - July 1st start date 30,000 1
Position will be funded 100% from increased revenue (30,000)
Bylaw Officer - Animal Control (Approved as per CS17-033 - Jan 1st start date)85,000 1
Position will be funded 100% from contract savings (85,000)
Bylaw Officer - Park Security - Jan 1st start date 85,000 1
Position will be funded 100% from a savings in Parks Security and reduction of p/t hours (85,000)
200,000$ (200,000)$
Net Full-Time -$ 224
D o l l a r s
Gross Cost Offsets
Council Meeting Agenda Tuesday, December 12, 2017 Item R2 Page 10 of 17
Town of Aurora Attachment 3
2018 Operating Budget
BUDGET COMMITTEE CHANGES
Residential Commercial
STARTING POINT - Draft Budget, As of November 7, 2017 =1,241,900 2.9 % 2.2 % 1.3 %
1 Nov. 18 Corp. Servcs (15,000) 1,226,900 (0.03 %) 2.9 % 2.2% 1.3%
2 Nov. 18 Council 14,900 1,241,800 0.03 % 2.9 % 2.2% 1.3%
3 Nov. 18 Corp. Expenses (15,000) 1,226,800 (0.03 %) 2.9 % 2.2% 1.3%
4 Nov. 20 Library (18,700) 1,208,100 (0.05 %) 2.8 % 2.2% 1.3%
5 Nov. 27 PRCS - 1,208,100 - 2.8 % 2.2% 1.3%
6 Nov. 27 PRCS Aurora Outdoor Christmas Market 27,500 1,235,600 0.07 % 2.9 % 2.2% 1.3%
7 Nov. 27 PRCS 103,400 1,339,000 0.24 % 3.1 % 2.3% 1.3%
8 Nov. 27 PRCS 5,000 1,344,000 0.01 % 3.1 % 2.3% 1.3%
9 Nov. 27 PRCS 48,100 1,392,100 0.11 % 3.2 % 2.4% 1.3%
10 Dec. 5 PRCS 18,000 1,410,100 0.04 % 3.3 % 2.4% 1.4%
11 Dec. 5 PBS 11,000 1,421,100 0.03 % 3.3 % 2.4% 1.4%
12 Dec. 5 PRCS (5,000) 1,416,100 (0.02 %) 3.3 % 2.4% 1.4%
13 Dec. 5 PRCS (30,000) 1,386,100 (0.07 %) 3.2 % 2.4% 1.3%
14 Dec. 5 PRCS (16,000) 1,370,100 (0.03 %) 3.2 % 2.3% 1.3%
15 Dec. 5 PRCS (10,000) 1,360,100 (0.03 %) 3.2 % 2.3% 1.3%
16 Dec. 5 PRCS (10,000) 1,350,100 (0.02 %) 3.1 % 2.3% 1.3%
17 Dec. 5 CS (8,000) 1,342,100 (0.02 %) 3.1 % 2.3% 1.3%
18 Dec. 5 FS (7,000) 1,335,100 (0.01 %) 3.1 % 2.3% 1.3%
93,200 0.22 %
Estimated
Tax Rate Share Weighted Share Weighted
Pressure of Tax Rate of Tax Rate
(from above)Tax Bill Pressure Tax Bill Pressure
3.10% 36.5 % 1.13% 20.8 % 0.6%
2.77% 42.9 % 1.19% 24.4 % 0.7%
0.00% 20.6 % 0.00% 54.8 % 0.0%
2.32%1.3%
A D J U S T M E N T S R E S U L T S
Ref.Date of
Decision Department I T E M Change to Operating Budget
Animal control alternative service delivery model adoption savings
Decrease of Council contingency budget
Running
Revised
Budget
Increase
Impact on Town Rate
Running
Town
Rate
Pressure
Effective Combined Tax Impact
Decrease in Town Library Requisition
New sponsorship program position (Jul-Dec)* ($30,000)
Increase of conference budget back to orignal $27,000
Decrease to software maintenance contract
Decrease consulting - cease online Citizen Budget survey
Increase in aquatic programs revenue budget
Increase in youth programs revenue budget
Town of Aurora Youth Innovation Fair
Sport Aurora / Sport Plan implementation
Sport Hall of Fame Sustainability
Pow Wow 2018
Chamber of Commerce
Delete Aurora Youth Innovation Fair - to be funded by Aurora Mayor’s Charity
Golf Classic
Decrease to aboricultural contracts budget
Decrease to shrub bed maintenance contract
Education
Region of York
Town of Aurora
CALCULATION OF IMPACT ON
OVERALL TAX BILL
RESIDENTIAL COMMERCIAL
Council Meeting Agenda Tuesday, December 12, 2017 Item R2 Page 11 of 17
Attachment 4
Town of Aurora
2018 Operating Budget
KEY BUDGET DRIVERS
Core Operations:
Service Enhancements:
Fiscal Strategy:
1.9%
Core Budget Right‐
Sizing
WasteCollection Contract
0.7%
Provincial
Labour Legislation
0.6%
The 3.1% increase to the tax levy translates to an additional $75.61 on a home with an average assessed value of $770,000.
Cash to Capital
0.5%
Hydro
InterestReduction & Other
0.5%
Net 1.0%Tax Increase
0.5%
CulturalServices
Net 0.5%Tax Increase
Net 3.1%Tax Increase
3.1%
Taxes from
new growth to
extend services
Net 1.6%Tax Increase
Fire Services
0.6%
Reduction in
Development Revenues
0.6%
Core Budget
Savings
0.3%0.6%
Other Changes
(Including
inflation and
expansion of
service to new
communities)
Council Meeting Agenda Tuesday, December 12, 2017 Item R2 Page 12 of 17
Attachment 5
Town of Aurora
2018 Operating Budget
Total Revenues by Source
Shown in $000's
* User Fees include revenue received in relation to the utilization of the town's various service
offerings such as its parks and facilities, building permit issuances and development application
fees.
Total Tax Levy
(44,453.3)
69.3%
User Fees*
(11,772.6)
18.4%
Grants & Gas Tax
(2,752.2)
4.3%
Reserve Draws
(2,511.9)
3.9%Investment
Income (1,600.0)
2.5%
Fines & Penalties
(1,005.0)
1.6%
Hydro Fund
Proceeds
(0.0)
0.0%
Total: $ 64,095.0
Council Meeting Agenda Tuesday, December 12, 2017 Item R2 Page 13 of 17
Attachment 6
Town of Aurora
2018 Operating Budget
Net Tax Funding by Service
Shown in $000's
Planning &
Building Services
$356.0
1%
Infrastructure &
Environmental
Services
$13,623.3
30%
Parks, Recreation
& Cultural Services
$4,460.3
10%
Internal Support
Services $6,633.0
15%Contributions to
Infrastructure
$5,053.4
11%
Central York Fire
Services $10,484.2
24%
Library Board
$3,843.1
9%
Total: $ 44,453.3
Council Meeting Agenda Tuesday, December 12, 2017 Item R2 Page 14 of 17
Town of Aurora
2018 Draft Operating Budget
HISTORY OF AURORA TAX RATE INCREASES
Attachment 7
7.9%7.9%
4.3%
5.0%
1.8%
2.8%
3.8%
4.8%
3.4%
3.8%3.9%
1.8%
3.1%3.1%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Council Meeting Agenda Tuesday, December 12, 2017 Item R2 Page 15 of 17
Category
Tax Supported Assets
Buildings 3,089.2$
Roads/Sidewalks/Street Lighting 3,337.8
Bridges & Culverts 261.7
Parks (Land Improvement)743.2
Other Vehicles & Equipment 229.8
Computer Related Equipment 108.2
Sub Total - Directly Supported Assets 7,769.8
Indirectly Supported Assets (from Taxes)
Fire Vehicles & Equipment $202.6
Library Content & Equipment 127.7
330.3
8,100.0$
Attachment #8
Estimate of Tangible Capital Asset Amortization Expense for 2017:
Estimated Amortization Expense for 2017
Amortization
Amount
in $'000's
( Excluding Rate Funded Assets)
Council Meeting Agenda Tuesday, December 12, 2017 Item R2 Page 16 of 17
ConsolidatedUnderIn $ 000 'sTown Library Municipal Reporting PSABBudgetBudget"Standard"ChangeGuidelinesRevenues:(excl Library)(cash basis) (accrual basis)Operating - Tax Levy40,610.2$ 3,843.1$ 44,453.3$ -$ 44,453.3$ Operating - Receipts From Outside Sources17,129.8 127.9 17,257.6$ - 17,257.6 Operating - Transfers From Other Funds2,511.9 - 2,511.9$ (2,511.9) (1)- Capital - Receipts From Outside Sources20,839.8 - 20,839.8$ - 20,839.8 Capital - Transfers From Other Funds9,436.1 745.0 10,181.1$ (10,181.1) (1)- Total Revenues90,527.8$ 4,716.0$ 95,243.7$ (12,693.0)$ 82,550.7$ Expenses:Operating Expenses50,397.3$ 3,841.0$ 54,238.3$ -$ 54,238.3$ Operating - Transfers To Capital Funds5,500.4 130.0 5,630.4 5,630.4 (2)- Operating - Transfers To Other Funds3,666.1 - 3,666.1 3,666.1 (2)- Operating - Debt Principal Payment533.8 - 533.8 533.8 (3)- Operating - Debt Interest Payment154.2 - 154.2 - 154.2 Tangible Capital Additions29,670.9 745.0 30,415.9 30,415.9 (4)- Non-Tangible Capital Additions605.0 - 605.0 - (5)605.0 Total Expenses90,527.8$ 4,716.0$ 95,243.7$ 40,246.2$ 54,997.5$ Annual Surplus / (Deficit) with Exclusions-$ -$ -$ 27,553.3$ 27,553.3$ per O.Reg 284/09Exclusions Add Back / (Deduct): - Amortization of Tangible Capital Assets (4)(8,100.0)$ - Post Employee Benefits and Sick Leave liabilities (209.7) - Workplace Safety & Insurance Board Benefits 135.9 Total Exclusions(8,173.9)$ Annual Surplus / (Deficit) - full PSAB Compliance - Audited Financial Statement Result19,379.4$ Foot Notes:1. "Transfers From Other Funds" represents transfers from reserves (Retained Earnings) for expenditures and is not considered a revenue source under accrual accounting.2. "Transfers To Other Funds" represents the contribution to reserves (Retained Earnings) and is not considered an expense under accrual accounting.3. "Debt Principal Payments" are considered a repayment of a long term liability and are not considered an expense under accrual accounting - only the related Interest portion remains a valid expense4. Under accrual accounting, costs related to the acquisition of "Tangible Capital Assets" are recorded on the balance sheet - only the amortization of existing Tangible Assets is included as an expense. This amortization is generally excluded from traditionally prepared, cash basis, municipal budgets.5. Studies and Reports are examples of non-Tangible Capital Assets and their acquisition is included as an expense. Attachment #92018 Budget Presentation Differences"Standard" Cash-Basis Budget vs. Presentation Requirement under P.S.A.B.Under O.Reg 284/09, this schedule is to be presentedprior to or as part of the budget approval process+=Town of Aurora - 2018 BudgetCouncil Meeting Agenda Tuesday, December 12, 2017 Item R2 Page 17 of 17