January 28, 2022 Budget Committee

Agenda

1. CALL TO ORDER

2. APPROVAL OF THE MINUTES – December 7 and 14/17, 2021

3. APPROVAL OF THE ORDER OF BUSINESS AND APPROVAL OF ADDITIONS AND DELETIONS

4. CALL FOR DECLARATION OF CONFLICT OF INTERESTS

5. PUBLIC PARTICIPATION

6. 2022/23 Fiscal Framework Update [PDF] 
i) 2022/23 Fiscal Framework – Staff report dated November 9, 2021 [PDF]
 - Presentation - 2022/23 Fiscal Framework Update and Options [PDF]
 - Presentation - 2022/23 Multi-Year Capital Plan for Strategic Initiatives [PDF]
Motion:
That the Budget Committee approve a 4.6 percent tax increase by rescinding the direction to set the average property tax bill for residential and commercial properties at a 2.9 percent increase by a motion of 2/3 of the members present and voting to:
Direct the Chief Administrative Officer in developing the 2022/23 Budget, that the average tax bill for residential, resource and commercial properties be set at a 1.6 percent increase.

It is further recommended that Budget Committee amend the deferred November 23, 2021, motion 2 (b) by moving an amendment to:

1.    Direct the Chief Administrative Officer to:

a)    Increase the amount of capital taken from operating for 2022/23 by $8.0M from $66.0M to $74.0M;

b)    Allocate an additional $17M to Street Recapitalization (Project CR200006), increasing its approved budget of $33.0M to $50M; and

c)    Add, for further consideration, $2.5M to the Budget Adjustment List for Parks and Recreation including, but not limited to, Project CP200001.

2.    Approve the Strategic Initiatives Capital Budget for 2022/23, and approve the schedule of 2022/23 Multi-year Strategic Initiative Capital Projects as per Attachments 1 and 2 of the staff report dated January 24, 2022; 

3.    Approve the schedule of 2022/23 capital reserves withdrawals as per Attachment 3 of the staff report dated January 24, 2022; 

4.    Approve the schedule of Strategic Initiatives in principal as per Attachment 4 of the staff report dated January 24, 2022;

5.    Transfer $5M from the Strategic Initiatives Operating Reserve (Q667) to the Strategic Initiative Capital Reserve (Q666), and,

6.    In Attachment B (“HRM Debt Guidelines”) of the November 23, 2021 staff report (2022/23 Fiscal Framework), page 4, section entitled “Capital from Operating Targets” delete “Capital from Operating is targeted to grow at 6 per cent per year plus the per cent growth in dwelling units” and replace with “Capital from Operating is targeted to grow at 6 per cent per year plus the percent growth in inflation, plus the per cent growth in dwelling units”.

7. ADJOURNMENT