Budget Committee

Agenda

Meeting #:

Date:

Monday, November 18, 2024

Time:

9:30 A.m. - 4:30 P.m.

Location:

Hybrid meeting- virtual and Council Chambers, City Hall

Contact:                  Deputy Clerk, [e-mail], 905-335-7600, x7492

 

Note: This meeting will reconvene at 9:30 a.m. on Nov. 21, 2024, if required, to complete the 2025 budget review. Budget resolutions from this meeting will be referred to a Special Council meeting on Nov. 25 , 2024.

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1.

Call to Order

Chair: Councillor Paul Sharman
Vice Chair: Councillor Kelvin Galbraith

2.

Land Acknowledgement

Burlington as we know it today is rich in history and modern traditions of many First Nations and the Métis. From the Anishinaabeg to the Haudenosaunee, and the Métis – our lands spanning from Lake Ontario to the Niagara Escarpment are steeped in Indigenous history. ​

​The territory is mutually covered by the Dish with One Spoon Wampum Belt Covenant, an agreement between the Iroquois Confederacy, the Ojibway and other allied Nations to peaceably share and care for the resources around the Great Lakes.

We acknowledge that the land on which we gather is part of the Treaty Lands and Territory of the Mississaugas of the Credit.

3.

Approval of the Agenda

4.

Declarations of Interest

5.

Delegations

Requests to delegate to this hybrid meeting can be made by completing the online delegation registration form at www.burlington.ca/delegate, by noon the business day before the meeting is to be held.

6.

Consent Items

Reports of a routine nature, which are not expected to require discussion and/or debate.  Staff may not be in attendance to respond to queries on items contained in the Consent Agenda.

7.

Presentations

8.

Regular Items

8.1

2025 Budget review and approval

• Endorse the 2025 Operating Budget including any approved budget amendments to be applied against the proposed net tax levy amount of $264,328,845; and
  
  Endorse that any surplus or deficit resulting from a difference between the actual results and the estimated 0.75% City portion of the net assessment growth be transferred to / from the Tax Rate Stabilization Reserve Fund; and
  
  Endorse the 2025 Capital Budget for the City of Burlington, with a gross amount of $103,525,163 with a debenture requirement of $8,950,000, and the 2026-2034 capital forecast with a gross amount of $994,403,942 with a debenture requirement of $30,179,850 as outlined in the 2025 Budget Overview (F-36-24) and as amended by Council; and
  
  Administer the debenture in the amount of $8,950,000 in 2025 as tax supported debt; and
  
  Declare that, in accordance with s. 5(1)5 of the Development Charges Act, 1997 and s. 5 of Ontario Regulation 82/98, it is Council’s clear intention that the excess capacity provided by the above-referenced works will be paid for by future development charges.

9.

Confidential Items and Closed Meeting

Confidential reports may require a closed meeting in accordance with the Municipal Act, 2001. Meeting attendees may be required to leave during  the discussion.

10.

Rise and Report

11.

Information Items

12.

Staff Remarks

13.

Committee Remarks

14.

Adjournment