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REPORT
FINANCE DEPARTMENT
Meeting: GENERAL PURPOSE AND ADMINISTRATION COMMITTEE
Date: Monday, June 15th, 2009
Report #: FND-012-09 File
Resolution #: I/.~'~~~~`~/
BY-law #:
Subject: 2010 BUDGET SCHEDULE
Recommendations:
It is respectfully recommended that the General Purpose and Administration Committee
recommend to Council the following:
1. THAT Report FND-012-09 be received for information; and
2. THAT the 2010 budget timetable be approved.
Submitted by: ~ v Reviewed by:~J ' ""'-~ ~`J ~.t
Na 'y ay r, B. ., C.A., Franklin Wu,
Director o FinancelTreasurer Chief Administrative Officer.
NT/hjl
REPORT NO.: FND-012-09
1.0 Background:
PAGE 2
1.1 Commencing with the 2008 budget year, the timetable for adopting the annual budget
was advanced such that the Capital and Current Budgets are approved by the end of
January of the applicable budget year.
1.2 It is proposed that this practice continue for the 2010 budget year whereby the 2010
Current and Capital Budgets are approved by the end of January 2010.
1.3 In 2009, afour-year forecast was prepared at the request of Council. This practice will
continue for 2010. A forecast for the years 2011 to 2014 will be prepared and submitted
to Council in conjunction with 2010 budget.
2.0 Tangible Capital Assets and Budget Format
2.1 As Council is aware, the Public Sector Accounting Board adopted accounting standards
for tangible capital assets required to be used by municipalities in 2010. Clarington will
need to implement changes to financial reporting and budget processes to
accommodate this change for items such as depreciation/amortization and acquisition of
assets.
2.2 In order to accommodate tangible capital assets and budget forecasting, our capital
budget software will be upgraded and the current budget software will be
enhanced/upgraded. This has been planned for some time. Council may see some
format changes to the draft budgets to accommodate these required changes.
3.0 2010 Budget Schedule
3.1 Staff have already commenced preliminary work on the 2010 budget, including capital,
current, and forecasts. Staff have various deadline dates throughout the coming months
in order to compile the necessary information for Council's consideration. A preliminary
budget education workshop is planned for November 20~h, 2009 with the location to be
announced. Based on these deliverables, it is anticipated that the draft budget binders
for 2010 will be circulated to the Mayor and Members of Council on or about January 6,
2010.
3.2 It is the. intention to have a Special General Purpose and Administration Committee
meeting on Friday, January 15, 2010 specifically to review the 2010 budget submissions.
The final budget then will be submitted for Council ratification at the Monday, January
25, 2010 Council meeting.
3.3 The Treasurer has received preliminary notification of a trial date of January 18, 2010 for
a matter pertaining to the Durham Municipal Insurance Pool. The Treasurer may be
required to attend to give evidence. This will be monitored in the coming months and
Council will be further advised.
4.0 Conclusion:
4.1 This report is submitted to Council for information purposes to keep Council apprised of
budget activities and set aside. key dates.
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
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