Receiving 2025 year-end financial update and approving reserve transfers

Councillor Votes

Full Resolution Text

That Council approve the recommendations outlined in Report FCSFS26-009, dated June 22, 2026, of the Commissioner of Finance and Corporate Support Services as follows: a) That the December 31, 2025, Quarterly Financial Update Report (Unaudited) attached as Appendix A to Report FCSFS26-009, dated June 22, 2026, be received; b) That the following year end entries be approved, transferring funds to/from reserves: i. That $826,943 representing the Police Services 2025 credit adjustment funds be transferred to reserves as follows: 1. Police Services Reserve, $330,879; 2. That a Police Emergency Communications System Reserve be created and $496,064 be transferred to the reserve; ii. That $100,000 of the City’s 2025 net surplus be transferred to the Organizational Development Reserve; 1. That $334,082 be transferred from the Sick Leave Reserve to offset vested sick leave payments; iii. That a reserve be created for 681 Monaghan and that: 1. The 2025 operating surplus funds in the amount of $178,489 be transferred to the reserve. 2. That any future surplus funds be transferred to the 681 Monaghan Reserve, subject to the overall year end position and that, if actual 681 Monaghan costs exceed the budget, funds may be drawn from the reserve. 3. That the 2026 User Fee By-law 25-128 be amended by removing the 2026 Water Services Form 6 and replacing with the amended fee schedule as per Appendix E.