BYLAW - Reallocate Operating Surpluses - 20091208 - 518709THE CORPORATION OF THE TOWN OF AURORA
By-law Number 5187-09
BEING A BY-LAW to reallocate
any 2009 Operating Surpluses.
WHEREAS section 290(3)(a) of the Municipal Act, 2001, S.O. 2001, c. 25, as
amended, provides that in preparing the budget for a year, the municipality shall
treat any operating surplus of any previous year as revenue that will be available
during the year;
AND WHEREAS section 290(3){e) of the Municipa!Act, 2001, S.O. 2001, c. 25, as
·amended, provides that in preparing the budget for a year, the municipality may
provide for such reserves as the municipality considers necessary;
AND WHEREAS the Council of the Corporation of the Town of Aurora deems it
expedient to control the 2009 Operating Surplus;
AND WHEREAS the Council ofThe Corporation of the Town of Aurora adopted the
recommendations contained in Report FS09-045 with respect to 2009 Operating
Surplus at its General Committee meeting of December 1, 2009 and ratified the
same recommendations at the council meeting of December 8, 2009;
NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE TOWN OF
AURORA ENACTS AS FOLLOWS:
1. THAT the Treasurer and the Chief Administrative Officer are hereby
authorized to make the adjustments and allocations in accordance with the
approved resolutions arising from staff report FS09-045 by re-allocating an
amount or amounts from any 2009 Operating Surplus to one or more of the
following reserve funds, and/or reserve accounts:
(a) WSIB Reserve;
(b) Arts and Cultural Reserve Fund;
(c) Aurora Hydro Sale Investment Reserve Fund;
(d) Parks Development and Facilities Development Charges Reserve
Fund;
(e) Storm Sewers Reserve Fund;
(f) Landscape Fee Reserve;
(g) Engineering Fees Reserve;
(h) Building Department Fees Reserve;
(i) Heron Annuity for IES & Parks Reserve Fund;
U) A new Tax Rate Stabilization Reserve Fund; and
(k) Municipal Capital Reserve Fund.
2. THAT the Treasurer and Chief Administrative Officer shall report to Council
on the operating surpluses allocated to a reserve fund or account when the
2009 annual statements are presented to Council or a Committee of Council.
READ A FIRST AND SECOND TIME THIS 81h DAY OF DECEMBER, 2009.
READ A THIRD TIME AND FINALLY PASSED T S 81h DAY OF DECEMBER,
2009.