Report to: General Committee Report
Date:
SUBJECT: Interim Spending Authority Pending Approval of 2009 Budget
PREPARED BY: Joel Lustig, Director Financial & Client Services
Barb Cribbett, Treasurer
RECOMMENDATION:
That
Council receive the report “Interim Spending Authority pending approval of 2009 Budget”,
dated
And
That Council approve 50% of the 2008 Operating Budget equal to $108,630,720 as
a pre-budget approval for 2009 operating
expenditures.
And That Staff be authorized and directed to do all things necessary to give effect to this resolution.
EXECUTIVE SUMMARY:
Not applicable
PURPOSE:
To obtain Council approval for the Treasurer to
have authority to make payments necessary to support the ongoing business of
the Town, prior to approval of the 2009 Operating Budget.
BACKGROUND:
The 2009 Interim Spending Authority is intended
to allow each of the Town’s operating departments and the Waterworks department
to spend up to 50% of their 2008 approved operating budget. This approval will enable the Town operations
to continue at existing approved service levels until the Town’s 2009 budget
has been approved.
The 2008 approved Operating Budget was $217,261,439
(Town’s Operating Departments - $158,041,402 and Waterworks Department- $59,220,037). 50% of this equates to $108,630,720).
All expenditures for goods and
services will conform to existing by-laws and policies.
OPTIONS/ DISCUSSION:
Not applicable.
FINANCIAL CONSIDERATIONS AND TEMPLATE: (external link)
Not applicable.
ENVIRONMENTAL CONSIDERATIONS:
Not applicable.
ACCESSIBILITY CONSIDERATIONS:
Not applicable.
ENGAGE 21ST CONSIDERATIONS:
Not applicable.
BUSINESS UNITS CONSULTED AND AFFECTED:
Not applicable.
RECOMMENDED
BY: ________________________ ________________________
Barb Cribbett, Treasurer Andy Taylor, Commissioner,
Corporate Services