BYLAW - Allocate 2009 Water - 20091208 - 519609THE CORPORA T/ON OF THE TOWN OF AURORA
By-law Number 5196-09
BEING A BY-LAW to
allocate any 2009 Water
and Wastewater Surplus or
Deficit.
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)(b) of the Municipal Act, 2001, S.O. 2001, c. 25, as
amended, provides that in preparing the budget for a year, the municipality shall
. provide for any operating deficit of any previous year;
AND WHEREAS section 290(3)(e) of the Municipal Act, 2001, S.O. 2001, c. 25, as
amended, provides that in prepa~ing 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 Water and Wastewater Operating Surplus or Deficit;
AND WHEREAS the Council ofThe Corporation of the Town of Aurora adopted the
recommendations contained in Report FS09-045 with respect to a Water and
Wastewater Surplus or Deficit at its General Commi_ttee 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 allocate any 2009 Water and Wastewater surplus, net of any
approved budget carry forwards, from the 2009 Water and Wastewater
Operating Surplus to the Water and Sewer Capital Reserve Fund in
accordance with Report FS09c045;
2. THAT the Treasurer and the Chief Administrative Officer are hereby
authorized to carryover any 2009 Water and Wastewater deficit into the 2010
Water and Wastewater budget for funding; and
3. THAT the Treasurer and the Chief Administrative Officer shall report to
Council on the amounts allocated to the Water and Sewer Capital Reserve
Fund or carried over to the 2010 Water and Wastewater budget at the time
when the 2009 annual statements are presented to Council or a Committee
of Council.
READ A FIRST AND SECOND TIME THIS gth DAY OF DECEMBER, 2009.
READ A THIRD TIME AND FINALLY PASSED THIS gth DAY OF DECEMBER,
2009.
Jllpprovea tM to J'onn
'.8!J.C a!Services
Si!JM<ure'..;2~~~~=-=-----2~~
'.Date, --""""-"'->LJ-.'4--JOHN LE