HomeMy WebLinkAboutTR-77-84 4
CORPORATION OF THE TOWN OF NEWCASTLE
TREASURY DEPARTMENT K. CAMPBELL, C.A.,TREASURER
40 TEMPERANCE STREET TEL.(416) 623°3379
BOWMANVILLE, ONTARIO
L1C 3A6
REPORT TO UIE GENERAL PURPOSE AND ADMINISTRATION OMMITTEE
MEETING OF SEPTEMBER, 4, 1984
REPORT ND. : fit.-77-84
SUBJECT: 1984 BUDGET REALLOCATION
R,ECOV1t MATION:
It is respectfully recommended that the General Purpose and
Administrative Committee recommend to Council the following:
1. That this report be received, and
2. That approval be given for the reallocation of
funds from the contingency account to the
various salary and benefit accounts within the
1984 budget to reflect recent benefit and
monetary settlements made by the Town with its
employees (unionized and non-union personnel).
BACKGROUND & CCMVIENT:
During the 1984 budget deliberations, $160,000 was provided in
the contingency account to offset increased costs realized
from settlement of the Town's collective agreements with
unionized and non-union personnel.
TR-77-84
2
Now that the collective agreements have been signed and the
retroactive pay has been paid, it is appropriate at this time
to reallocate a portion of the lump sum provided in the
contingency account to the various salary and benefit budget
account based on actual 1984 rates.
Staff have recalculated the salary and benefit schedules for
the 1984 budget and a reallocation of funds in the amount of
$128,282.00 + would be inorder at this time. This adjustment
will permit members of Council and staff to better evaluate
actual costs incurred versus 1984 budgetted expenses.
Any amounts not required to meet the salary and benefits
settlements will remain in the contingency account to meet
other emergency funding situations.
Respectfully submitted,
John R. Blanchard,
Deputy-Treasurer
*gf