HomeMy WebLinkAboutCS-16-00THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON
REPORT
Meeting: General Purpose and Administration Committee File #
Date: October 2, 2000 Res. r/ � -00
/
Report #: CS -16 -00 By -law #.
Subject: CLARINGTON OLDER ADULTS CENTRE — RESERVE FUND
BY -LAW #96 -56
Recommendations:
It is respectfully recommended that the General Purpose and Administration Committee
recommend to Council the following:
1. THAT Report No. CS -16 -00 be received; and,
2. THAT the five (5) year operational viability period of March 11, 1996 to March 11
2001 as outlined in By -Law #96 -56 be extended to expire December 31, 2003; and,
3. THAT a By -Law to amend By -Law #96 -56 be forwarded to Council
1.0 BACKGROUND
1.1 In March of 1996, Council approved By -Law Number 96 -56 (see attachment #1)
being a By -Law to Establish a Reserve Fund for the Clarington Older Adult Centre.
1.2 The By -Law enacted a clause "THAT on an annual basis, in conjunction with budget
deliberations, the operating viability of the Older Adults Centre be reviewed and
when deemed to be self - sufficient, or after a five (5) year period (2001), whichever
is earlier, the principal value of one million dollars be transferred back to the
Impact/Escrow Fund with any funds uncommitted at that date."
1.3 The intent of this clause was to ensure funding would be available to the Board of
Directors to sustain operation of the Older Adults Centre during the initial start up
of the Older Adults Centre until such time as the Board was financially self
sufficient for a period of up to five (5) years. (The available funding is derived from
the accumulated interest of the one million dollars held in the reserve account.)
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REPORT NO.: CS -16-00 PAGE 2
1.4 In January 2000, the approximate value of the interest in the Reserve Fund was
$200,000.00. During the 2000 Budget deliberations, Council approved
expenditures of $40,000 for Capital requests at the Older Adult Centre and an upset
limit of $47,000 for Operating Budget items, to be reduced by Trillium Funding or
other Provincial Grants. As of September 30, it is projected that only $7,000 will be
required to fund the Operating Budget items.
1.5 While the by -law became effective on March 11, 1996, full operation of the Older
Adult Centre was not established until September 1998. As such, the Executive
Director of the Older Adult Centre, on behalf of the Board of Directors, has
requested Council's consideration to amend the by -law to be more reflective of the
actual five (5) year operating period from September 1998 to December 31, 2003.
1.6 This request is based on continued growth for seniors programs. (As outlined in the
2000 Budget, a new program position was established to offer programs to the
Seniors' community.) To date, the Board has also been successful in obtaining
grants and funding from alternate sources, however there is no guarantee these
funds will continue to be available over the next two critical years. It is the Board of
Director's desire to continue to ensure the operational viability of the Older Adults
Centre as intended in the original by -law.
2.0 COMMENT
Staff of the Community Services Department have reviewed the request of the
Executive Director with the Treasurer and there is no objection to this request.
Ily submitted,
of Community Services
J PC/B RT /pg
Reviewed by,
Franklin Wu, M.C.I.P., R.P.P.
Chief Administrative Officer
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THE COPPORATION OF THE MUNICIPALITY OF CLARINGTON
BY -LAW NO. 2000-
being a by -law to amend By -law 96 -56,
a by -law establishing a Reserve Fund
for the Clarington Older Adults Centre
WHERE 34 AS the Council of the Corporation of the Municipality of
Clarington, at its meeting held on October 16, 2000, adopted the
recommendations contained within Report CD- 16 -00; and
WHEREAS the Council of the Corporation of the Municipality of
Clarington considers it desirable to amend By -law 96 -56;
NOW THEREFORE BE IT ENACTED BY THE COUNCIL OF THE
CORPORATION OF THE MUNICIPALITY OF CLARINGTON:
THAT By -law 96 -56 be amended in Section 5. by deleting the
words "after a five (5) year period (2001) ", and replacing them with
the words "December 31, 2003"
By -law read a first and second time this 16th day of October 2000
By -law read a third time and finally passed this 16th day of October 2000
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MAYOR
MUNICIPAL CLERK