Receive 2023 year-end financial update and transfers
General Committee makes recommendations; City Council makes the final decision.
Council approved this on June 24, 2024 as part of its consent agenda, without a separate vote. See the consent vote →
Councillor Votes
Full Resolution Text
That Council approve the recommendations outlined in Report FCSFS24-011, dated June 17, 2024 of the Commissioner of Finance and Corporate Support Services as follows: a) That the December 31, 2023 Quarterly Financial Update Report (Unaudited) attached as Appendix A to Report FCSFS24-011, dated June 17, 2024, be received; b) That $1,511,471 be transferred to the Property Acquisition Reserve, representing the tax sale of 511 Romaine Street; c) That the following reserves be consolidated, with balances transferred into the General Recreation Reserve: i. New Athletic Fields ii. Beavermead iii. Artificial Turf iv. Sportfield Lights v. Marina vi. Arena Equipment; d) That the following year end entries be approved, transferring funds to/from reserves: i. $104 representing 100% of the Police Services 2023 year-end surplus be transferred to the Police Special Projects Reserve; ii. $480,000 of the CAO budget be transferred to the Organizational Development Reserve.