BYLAW - Allocate Surplus Deficit 2020 Operating Water WW Funds - 20200929 - 628220The Corporation of the Town of Aurora
By-law Number 6282-20
Being a By-law to allocate any 2020 0perating Fund surplus and any
2020 Water and Wastewater Operating Fund surplus or deficit.
Whereas paragraph 290(4)(b) of the Municipal Act, 2001, s.o. 200'l, c. 25, as amended
(the "Act"), provides that in preparing the budget for a year, the local municipality shall
treat as estimated revenues any surplus of any previous year;
And whereas paragraph 290(4)(c) of the Act provides that in preparing the budget for a
year, the local municipality shall provide for any deficit of any previous year;
And whereas paragraph 290(4)(g) of the Act provides that in preparing the budget for a
year, the local municipality may provide for such reserve funds as the municipality
considers necessary;
And whereas paragraph Il (2)(3) of the Act provides that municipalities may pass by-
laws respecting the financial management of the municipality and its local boards;
And whereas the Council of The Corporation of the Town of Aurora (the "Town") deems
it necessary and expedient to control the 2020 0perating Fund surplus or deficit as it
may arise;
And whereas the Council of the Town deems it necessary and expedient to control the
2020 Water and Wastewater Operating Fund surplus or deficit as it may arise;
And whereas the Council of the Town adopted the recommendations and controls
contained in Report No. F1N20-022 with respect to the 2020 0perating Fund surplus
and the 2020 Water and Wastewater Operating Fund surplus or deficit at the Council
meeting of September 29, 2020;
Now therefore the Council of The Corporation of the Town of Aurora hereby enacts
as follows:
1.The Treasurer and the Chief Administrative Officer are hereby authorized to
make the adjustments and allocations in accordance with the approved
resolutions arising from Report No. FIN20-022 by re-allocating an amount or
amounts from any 2020 0perating Fund surplus to one or more of the reserve
funds of the Town.
2.The Treasurer and the Chief Administrative Officer are hereby authorized to
allocate any 2020 0perating Fund deficit from the appropriate stabilization
reserve funds of the Town.
3.The Treasurer and the Chief Administrative Officer are hereby authorized to
allocate any 2020 Water and Wastewater Operating Fund surplus, net of any
approved budget carry forwards, to the Water and Sewer capital reserve funds in
accordance with Report No. F1N20-022.
4.The Treasurer and the Chief Administrative Officer are hereby authorized to fund
any 2020 Water and Wastewater Operating Fund deficit from the Water and
Sewer capital reserve funds in accordance with Report No. FIN20-022.
By-law Number 6282-20 Page 2 of 2
The Treasurer and the Chief Administrative Officer shall report to Council on all
amounts allocated as authorized by this By-law, either before or at the time when
the 2020 annual statements are presented to Council or a Committee of Council.
Enacted by Town of Aurora Council this 29'h day of September, 2020.
rakas, Mayor
'iC"gA.'l A 'Rend. Town Clerk