2017 Draft Operating Budget Summary

Special Meeting of Council Tuesday, February 28, 2017

1

Overview 1. Budget Strategy and Pressures 2. 2017 Draft Operating Budget Review 3. Tax Impact to Homeowner 4. Updated Financial Outlook and Staffing Plan

2

2017 Operating Budget Strategy Maintain existing service levels Include items consistent with the Strategic Plan, that also provide for:

Annualizations of prior years’ approved service enhancements Impacts from development growth Legislated changes Year two of the three-year phased-in reductions from the Growth Rate Stabilization

Strategy, Personnel Gapping Factor and Supplementary Taxation as approved in 2016

Continue with the Capital Asset Sustainability Fee Strategy approved in 2016

Provide an update on the Emerald Ash Borer Management Strategy implementation plan, and report back on funding alternatives

Update the Financial Outlook and Staffing Plan Minimize the tax rate increase

3

2017 Operating Budget Process Budget Consultations & Engagement

Business Community Information Session – October 26th, 2016 Public Budget Information Session – January 21st, 2017 Budget Video – How Richmond Hill’s Budget Works

Budget Committee of the Whole Tuesday, January 24th – Overview, RHPL, Www

Tuesday, January 31st – CSD, EIS Tuesday, February 7th – CFS, PRS, CAO, COR Tuesday, February 14th – Updated Draft Budget

Special Council Meeting Tuesday, February 28th, 2017 to Adopt the 2017 Operating Budgets

4

Economic Climate Historical Price Indices

(Source: Statistics Canada, unless otherwise noted) 2016 (%)

Construction Price Indices (non-res.) 1.29 Commercial 1.30 Industrial 2.36 Institutional 1.02 Electricity 3.51 (10 as 2017 Forecast) Water (York Region) 9.00 (2017 Forecast)

5

Forecasted Investment Rates 2017 Forecast (%)

Bank of Canada Overnight Rate 0.50

Three-Month Treasury Bill Rate 0.60

10-Year Bond Rate 2.45

Growth Indicators

6

2005 2010 2015 2016 2017 % Growth since 2005% Growth over 2016

162,000 187,800 205,300 211,000 214,100 32% 1%Households 53,000 57,000 64,150 66,000 67,255 27% 2%

Roads (km) 508 531 545 550 555 9% 1%Sidewalks (km) 552 608 650 658 670 21% 2%Storm Sewers (km) 460 500 513 519 524 14% 1%Seniors Driveways 913 1,335 1,424 1,512 1,663 82% 10%

Waste Tonnage 51,593 55,963 55,162 56,090 56,932 10% 2%

Street Lights 13,680 15,154 15,973 16,112 16,305 19% 1%8,704 9,870 12,288 12,518 12,600 45% 1%

Traffic Signals 19 22 29 30 30 58% 0%

Parkland (acres) 728 751 766 770 808 11% 5%Open Space (acres) 1,604 1,826 2,038 2,073 2,272 42% 10%

Population

Signs

2013 Sources of Funds

20122013

Interfund Trans to Ops 13120

TRH: TRH:Run report in Cayenta764725011781800

Total Sources ($ Millions)20122013

(B)(P)20122013

WWW47,358,60053,101,000

TRH: WWW narrative p. 2

User Fees/Fines$35.1$38.320132012

Water Billings47.453.2TOTAL

TRH: used FIMS interfund reports 11120OperatingCapitalWWWTOTAL

TRH: used FIMS interfund reports 11120OperatingCapital

TRH: Source: Town's websiteWWW

Investment Income7.17.1Reserves 30,769,5007,512,200

TRH: Run: Interfund Transfer TO OPS 13120 report23,257,300Reserves 31,738,1507,038,150

TRH: Run: Interfund Transfer OPS 2012 report24,700,000

DCs and Parkland12,769,680795,90011,973,780DCs and Parkland9,141,200554,1008,587,100

Property Taxes83.586.8Fed/Prov Grants7,430,90077,5007,353,400

TRH: Federal Gas Tax

TRH: used FIMS interfund reports 11120

TRH: Source: Town's website

TRH: Run: Interfund Transfer OPS 2012 report

TRH: TRH:Run report in CayentaFed/Prov Grants3,709,000209,0003,500,000

TRH: Federal Gas Tax

Other5,403,5203,396,2002,007,320Other5,417,7504,004,8501,412,900

Reserves 31.730.856,373,60011,781,80044,591,80050,006,10011,806,10038,200,000

DCs and Parkland9.112.8

Other5.45.4Water and Wastewater Revenue53,186,200Water and Wastewater Revenue47,433,600

Fed/Prov Grants3.77.4

Maint-Operations - User Fees1,334,000Maint-Operations - User Fees1,214,000

140.5Revenue - User Fees267,000Revenue - User Fees259,500

142.09

(1.62)(1.78)

2013Property Tax86,780,320Property Tax83,523,900

Taxation86.8Investment Income6,870,000180,000Investment Income6,870,000180,000

User Fees, Fines and Charges34.8User Fees, Fines and ChargesUser Fees, Fines and Charges33,600,000

Reserves and Reserve Funds8.4105,432,12044,591,80054,967,200135,800,00038,200,00049,087,100

Investment Income7.131,619,930-0

Other Funds3.4

TRH: from water & wastewater fund - REPORT: Intrfd Transfer from Www 13904

TRH: WWW narrative p. 2

TRH: used FIMS interfund reports 11120To Be Funded000

140.5142.1

3,493,800

20122013142,090,80087,100

Operating:135.8142.1million117,000

Water:49.155.0million100,000

Capital:38.244.6million395,300

2,475,000

Total$ 223.1$ 241.6million2,434,700

157,500

2,623,500

8,390,100

45,000

662,000

11,966,400

3,919,800

2,434,100

214,400

718,800

28,700

2,889,200

2,420,100

170,000

161,300

100,000

25,729,800

466,900

38,080,600

population

2001200520062009201020112012201320142015*20152016*% Growth since 2005% Growth over 2005

Full-time Staffing137,900563183,000622191,600195,100197,900203,153206,57270772228%2%

Population137,900162,000183,000187,800191,600195,100197,900203,153206,572205,300209,40029%2%

Households41,70053,00055,60057,00058,10059,20060,15062,96264,18164,15065,90024%3%

Roads (km)4675085305315355405405415525455508%1%

Sidewalks (km)42655259360861862063564065365065819%1%

Storm Sewers (km)38446049050050350450651152151351913%1%

Seniors Driveways9131,2961,3351,4161,1291,1501,3401,1171,6241,70587%5%

Waste Tonnage44,64151,59354,81055,96356,14457,79755,53255,93857,67355,16256,0909%2%

Street Lights10,80013,68014,77415,15415,33415,41315,72115,79516,11115,97316,11218%1%

Signs7,7768,7049,6269,87010,10211,57111,80212,05812,29312,28812,51844%2%

Traffic Signals151922222329292929293058%3%

Parkland (acres)7687287427547607647657677707707787%1%

Open Space (acres)1,0401,6041,7791,8271,8692,0242,0282,0322,0912,0482,20137%7%

Assessment Growth $2,415,6001,590,4861,584,6001,330,100-45%-16%

Assessment Growth % (over Prior Year)5.10%2.26%1.80%1.42%

*Based on Forecasted growth

Note - Richmond Hill Population (Statistics Canada Census Data):

198138,685

199183,106

Parkland (acres)768728742754760.3764765767770770778

Open Space (acres)1,0401,6041,7791,8271,8692,0242,0282,0322,0912,0482,201

20132012

CPI Canada 0.08%November 2012

CPI Ontario 0.07%November 2011 to November 2012

Gasoline Canada 0.40%November 2012

Energy Ontario 0.40%November 2011 to November 2012

Transportation Ontario -0.20%November 2011 to November 2012

Non-Res Bldg Construction Price Index 0.20%Third quarter of 2012

Unhided

20052010201520162017% Growth since 2005% Growth over 2016

Full-time Staffing56362270772228%2%

Population162,000187,800205,300211,000214,10032%1%

Households53,00057,00064,15066,00067,25527%2%

Roads (km)5085315455505559%1%

Sidewalks (km)55260865065867021%2%

Storm Sewers (km)46050051351952414%1%

Seniors Driveways9131,3351,4241,5121,66382%10%

Waste Tonnage51,59355,96355,16256,09056,93210%2%

Street Lights13,68015,15415,97316,11216,30519%1%

Signs8,7049,87012,28812,51812,60045%1%

Traffic Signals192229303058%0%

Parkland (acres)72875176677080811%5%

Open Space (acres)1,6041,8262,0382,0732,27242%10%

Note - Richmond Hill Population (Statistics Canada Census Data):

198138,685

199183,106

Parkland (acres)728754770778

Open Space (acres)1,6041,8272,0482,201

2012

CPI Canada 0.08%

CPI Ontario 0.07%

Gasoline Canada 0.40%

Energy Ontario 0.40%

Transportation Ontario -0.20%

Non-Res Bldg Construction Price Index 0.20%

Operating Budget – January 24 2017 Tax Levy Impact Town Services

RH Fire & Emergency

Services

Richmond Hill Public

Library

Total Operating

Budget Base $1,023,100 $1,131,600 $206,300 $2,361,000 Growth 401,100 - 285,700 686,800 Legislated 221,400 - 24,400 245,800 Service Enhancements 125,000 344,600 - 469,600 Unsustainable Funding Sources 1,033,400 - - 1,033,400 2017 Draft Operating Budget – Tax Levy Impact $2,804,000 $1,476,200 $516,400 $4,796,600

7

Town Services – Base Pressures Personnel expenditure pressures of $1.8 million include the

following: Cost of living adjustment provisions Adjustments to benefit rates Step-rate increases

Contracts and Services pressures: $361,300 Contractual commitments

Materials and Supplies pressures: $701,800 Impacted by inflationary pressures (e.g. utility rates)

User fees and fines revenues are budgeted to increase $768,200 Transfers from internal sources to increase $1.1 million

8

Town Services – Growth Pressures Town Services Budget – Growth 2017 Draft

Annualization of Resources Approved in 2016 (includes 16 FT positions) $759,400 New Resources Requested for 2017 (includes 18 FT positions) 1,505,800 Property Assessment Growth (1,864,100) Growth $401,100

9

Town Services – Legislated Town Services Budget – Legislated 2017 Draft

CSD Minimum wage increase $161,400 EIS Electrical Safety Authority permitting for regulatory compliance 30,000 CFS AODA compliance contracts 30,000

Legislated $221,400

10

Town Services – Service Enhancements Impact of $125,000 Personnel – New Permanent Positions

• Asset Management Planning program staffing resources for six months each: Manager, Project Manager contract extension, Project Manager conversion to full-time

New Programs David Dunlap Observatory lands and building facility costs

11

Town Services – Unsustainable Funding Sources

Town Services Budget – Unsustainable Funding Sources 2017 Draft Gapping Vacancy Factor – Year 2 of 4-yr phased reduction $200,000 Investment Income – Year 1 of 3-yr phased reduction 333,400 Eliminate Growth Rate Stabilization Strategy – Year 2 of 3-yr phased elimination 500,000

Unsustainable Funding Sources $1,033,400

12

Operating Budget – Richmond Hill Fire & Emergency Services

13

Financial implications of the Fire & Emergency Services Master Plan: 8 Firefighters 1 Fire Prevention Officer

Personnel related cost provisions

Operating Budget – Richmond Hill Public Library Board

14

Operating Budget – Tax Levy Impacts 2016 2017 Outlook 2017 Draft

Base $116,500 $157,700 $206,300 Growth 85,300 233,200 285,700 Legislated 76,700 - 24,400 Service Enhancements - - - Unsustainable Funding Sources - - - Tax Levy Increase, January 24 $278,500 $390,900 $516,400

• As originally presented on January 24, 2017, with three full-time staff additions and two part-time positions

Mayor‘s Motion – January 24 “That the new staff requests from the Richmond Hill Public Library

Board for the new Oak Ridges Library in the 2017 draft operating budget be limited to 2 (two) new positions and the Board make the decision of which 2 (two) positions they wish to add. The start time to be the same July 1st start.”

Staff have provided a reduced tax impact of $71,800 based on retaining the two highest rated positions, the Children’s Librarian and the Library Systems Specialist, and deferring the Library Assistant and part-time Page hours.

15

Operating Budget – February 14 2017 Tax Levy Impact Town Services

RH Fire & Emergency

Services

Richmond Hill Public

Library

Total Operating

Budget Base $1,023,100 $1,131,600 $206,300 $2,361,000 Growth 401,100 - 285,700 686,800 Legislated 221,400 - 24,400 245,800 Service Enhancements 125,000 344,600 - 469,600 Unsustainable Funding Sources 1,033,400 - - 1,033,400 2017 Draft Operating Budget – Tax Levy Impact $2,804,000 $1,476,200 $516,400 $4,796,600

Motion – January 24 (71,800) (71,800) 2017 Draft Operating Budget

– Tax Levy Increase, February 14

$2,804,000 $1,476,200 $444,600 $4,724,800

16

Operating Budget Summary Operating Budget

– Exp / Rev Town

Services Fire &

Emergency Library Total

Operating Expenditures 126,921,800 24,895,100 $ 10,168,800 161,985,700

Non-Taxation Revenues (51,617,200) (1,513,500) (1,839,700) (54,970,400) Taxation Revenues (72,500,600) (23,399,900) (7,884,500) (102,290,500)

2017 Draft Operating Budget – Tax Levy

Increase, February 14 2,804,000 1,476,200 444,600 4,724,800

17

Operating Budget Revenues

18

Property Taxes, $107,015,300 , 66%

User Fee Charges and Fines, $34,865,500 ,

21% Reserve and Reserve

Funds, $6,670,200 , 4% Investment Income, $6,536,600 , 4%

Other Internal Sources, $5,719,600 , 4%

Grants and Donations, $1,178,500 , 1%

2017 Average Single Detached Residential Property Average Single Detached Residential Property New CVA – $1,148,000

Estimated Town Services Fire &

Emergency Services

RH Public Library Board

Town Portion of

Tax Bill

School Board

Portion of Tax Bill

Region Portion of

Tax Bill Total

Annual Tax Impact $48.50 $25.65 $7.68 $81.83 $0.00 $$95.33 $177.16

Monthly Tax Impact 4.04 2.14 0.64 6.82 0.00 7.94 14.76

Daily Tax Impact 0.13 0.07 0.02 0.19 0.00 0.26 0.45

2017 Tax Bill $1,826.62 $1,549.90 $$3,416.86 $6,793.38

Water, Wastewater & Stormwater 9% combined Water and Wastewater retail rates increase,

consistent with Region of York wholesale rate increases Additional $6.9 million in revenues Effective April 1, 2017 – $4.1037 per cubic meter 590,602 volume increase over prior year – 2017 volume of 21,113,340 m3

9% Stormwater rate increase Additional $3.3 million in revenues Single residential properties billed $62.24 quarterly Non-single residential properties billed $180.82 bi-monthly

Additional costs from Operating Fund to reflect efforts on Water, Wastewater and Stormwater Management operations

Updated final plan to be presented prior to the 2018 Budget process

20

Capital Asset Sustainability

Continuing with the Capital Asset Sustainability Strategy adopted by Council as part of the 2016 Operating Budget, the Capital Asset Sustainability Fee is proposed to increase by $15 per tax bill each of the next nine years. The 2017 fee will be $30

This fee is separate from the Town Services Operating Budget The 2017 increase will generate an additional $1,025,800 for future

capital asset funding for a total budget of $1,975,400

21

Operating Budget – Tax Levy Impact 2016 2017 Draft Inc / (Dec)

Capital Asset Sustainability $949,600 $1,975,400 $1,025,800

Financial Outlook and Staffing Plan

2017 Draft FT

Staffing Additions

2018 Outlook

FT Staffing

Additions

2019 Outlook

FT Staffing

Additions Town Services $2,804,000 19 4,038,100 22 3,685,900 21 Fire & Emergency Services 1,476,200 9 1,464,100 10 1,513,100 9

Richmond Hill Public Library Board 444,600 2 795,100 5 619,600 4

Tax Levy Requirement $4,724,800 6,297,300 5,818,600

Previously Forecasted 4,806,600 3,625,000 Water & Wastewater Services - 1 2

22

Mayor’s Motions – Feb. 24 1. Spread elimination of Growth Stabilization draws

over two more years – $255,200 savings. 2. RIM project has a tax rate impact of $38,300 (less

than 30% of the project) to start making room for eventual new system support costs. Fully fund this amount from the reserve – $38,300 savings.

23

Operating Budget Impact 2017 Tax Levy Impact Town Services

RH Fire & Emergency

Services

Richmond Hill Public

Library

Total Operating

Budget Base $1,023,100 $1,131,600 $206,300 $2,361,000 Growth 401,100 - 213,900 615,000 Legislated 221,400 - 24,400 245,800 Service Enhancements 125,000 344,600 - 469,600 Unsustainable Funding Sources 1,033,400 - - 1,033,400 2017 Draft Operating Budget – Tax Levy Impact $2,804,000 $1,476,200 $444,600 $4,724,800

Motion 1 – Spread reduced Growth Rate Stabilization 2+ yrs (255,300) - - (255,300)

Motion 2 – Fund RIM fully from Tax Rate Stabilization Reserve (38,300) - - (38,300)

2017 Draft Operating Budget – Tax Levy Increase – February 28 $2,510,400 $1,476,200 $444,600 $4,431,200

24

Councillor Chan’s Motion – Feb. 27 That the reduction in draw from the Tax Rate

Stabilization Reserve for the elimination of the Growth Rate Stabilization Strategy be suspended for 2017 with a view to reducing the proposed tax levy increase to $4.2 Million, and revisit the Growth Rate Stabilization Strategy for the 2018 Budget process.

25

Operating Budget Impact 2017 Tax Levy Impact Town Services

RH Fire & Emergency

Services

Richmond Hill Public

Library

Total Operating

Budget Base $1,023,100 $1,131,600 $206,300 $2,361,000 Growth 401,100 - 213,900 615,000 Legislated 221,400 - 24,400 245,800 Service Enhancements 125,000 344,600 - 469,600 Unsustainable Funding Sources 1,033,400 - - 1,033,400 2017 Draft Operating Budget – Tax Levy Impact $2,804,000 $1,476,200 $444,600 $4,724,800

Motion 1 – Spread reduced Growth Rate Stabilization 2+ yrs (500,000) - - (500,000)

2017 Draft Operating Budget – Tax Levy Increase – February 28 $2,304,000 $1,476,200 $444,600 $4,224,800

26

Tax Rate Stabilization Reserve

27

2016 Forecast

2017 Budget

2018 Outlook

2019 Outlook

2020 Outlook

Opening Balance 8,338,853$ 8,887,853$ 8,167,853$ 7,898,653$ 7,637,453$ Draws to offset amount of assessment growth less than 3% (1,478,900) (978,900) (478,900) - - Eliminate Growth Rate Stabilization Strategy over three years 500,000 500,000 478,900 - - Growth Rate Stabilization Strategy Draw (978,900) (478,900) - - - Draws for one time Items:

Records Information Management operating costs - (93,200) (93,200) (93,200) - Minor Capital for staffing requests - (147,900) (176,000) (168,000) (164,000) Lois Hancey Aquatic Centre temorary pool closure (92,100) - - - - Economic Development Strategy (50,000) - - - -

Total Draws (1,121,000) (720,000) (269,200) (261,200) (164,000) Surplus/(Deficit) Allocation 670,000 - - - - Insurance Recovery 1,000,000 - - - -

Ending Balance 8,887,853$ 8,167,853$ 7,898,653$ 7,637,453$ 7,473,454$

Chan's Motion

Town of Richmond Hill

Tax Rate Stabilization Reserve

2017 Draft Budget

2011201220132014201520162017201820192020

ActualActualActualActualActualBudgetBudgetOutlookOutlookOutlook

Opening Balance$ 15,522,520$ 15,048,964$ 13,265,575$ 10,844,831$ 7,113,493$ 8,338,853$ 8,887,853$ 7,667,853$ 6,419,753$ 5,179,653

Draws to offset amount of assessment growth less than 3%(508,300)(638,600)(1,027,200)(1,326,000)(1,063,600)(1,478,900)(978,900)(978,900)(978,900)(978,900)-

Eliminate Growth Rate Stabilization Strategy over three years--500,000----

Growth Rate Stabilization Strategy Draw(1,326,000)(1,063,600)(978,900)(978,900)(978,900)(978,900)(978,900)(4,894,500)

Draws to reduce property tax rate increase(676,671)(1,313,100)(1,264,300)-------

Draws for one time Items:

Records Information Management operating costs(93,200)(93,200)(93,200)-

Minor Capital for staffing requests(147,900)(176,000)(168,000)(164,000)

Capital Project Closure1,965

Lois Hancey Pool Closure(92,100)

Economic Development Strategy(50,000)

Ice Storm Funding(2,664,116)2,031,849

Total Draws(1,184,971)(1,951,700)(2,291,500)(3,990,116)970,214(1,121,000)(1,220,000)(1,248,100)(1,240,100)(1,142,900)

Surplus/(Deficit) Allocation749,745274,561(195,963)258,778255,146670,000----

Insurance Recovery1,000,000

Ending Balance$ 15,087,294$ 13,371,825$ 10,778,112$ 7,113,493$ 8,338,853$ 8,887,853$ 7,667,853$ 6,419,753$ 5,179,653$ 4,036,754

Percentage of Prior Year's Operating Budget13%10%9%5%6%6%5%4%3%2%

Assessment Growth2.33%2.20%1.74%1.45%1.80%1.42%1.50%1.50%1.50%1.50%

Stabilization Strategy0.67%0.80%1.26%1.55%1.20%1.58%0.51%0.00%0.00%0.00%

148,800,000156,200,000162,000,000168,300,000174,100,000

Operating Budget Forecast

478900

Mayor's Motion

Town of Richmond Hill

Tax Rate Stabilization Reserve

2017 Draft Budget

2011201220132014201520162017201820192020

ActualActualActualActualActualBudgetBudgetOutlookOutlookOutlook

Opening Balance$ 15,522,520$ 15,048,964$ 13,265,575$ 10,844,831$ 7,113,493$ 8,338,853$ 8,887,853$ 7,912,553$ 7,153,853$ 6,647,853

Draws to offset amount of assessment growth less than 3%(508,300)(638,600)(1,027,200)(1,326,000)(1,063,600)(1,478,900)(978,900)(734,200)(489,500)(244,800)-

Eliminate Growth Rate Stabilization Strategy over three years500,000244,700244,700244,700244,800

Growth Rate Stabilization Strategy Draw(1,326,000)(1,063,600)(978,900)(734,200)(489,500)(244,800)-(2,447,400)

Draws to reduce property tax rate increase(676,671)(1,313,100)(1,264,300)-------

Draws for one time Items:

Records Information Management operating costs(93,200)(93,200)(93,200)-

Minor Capital for staffing requests(147,900)(176,000)(168,000)(164,000)

Capital Project Closure1,965

Lois Hancey Pool Closure(92,100)

Economic Development Strategy(50,000)

Ice Storm Funding(2,664,116)2,031,849

Total Draws(1,184,971)(1,951,700)(2,291,500)(3,990,116)970,214(1,121,000)(975,300)(758,700)(506,000)(164,000)

Surplus/(Deficit) Allocation749,745274,561(195,963)258,778255,146670,000----

Insurance Recovery1,000,000

Ending Balance$ 15,087,294$ 13,371,825$ 10,778,112$ 7,113,493$ 8,338,853$ 8,887,853$ 7,912,553$ 7,153,853$ 6,647,853$ 6,483,854

Percentage of Prior Year's Operating Budget13%10%9%5%6%6%5%4%4%4%

Assessment Growth2.33%2.20%1.74%1.45%1.80%1.42%1.50%1.50%1.50%1.50%

Stabilization Strategy0.67%0.80%1.26%1.55%1.20%1.58%0.51%0.00%0.00%0.00%

148,800,000156,200,000162,000,000168,300,000174,100,000

Operating Budget Forecast

478900

Two Years

2011201220132014 Actual2015 Actual2016 Forecast2017 Budget2018 Outlook2019 Outlook2020 Outlook

Opening Balance$ 15,522,520$ 15,048,964$ 13,265,575$ 10,844,831$ 7,113,493$ 8,338,853$ 8,887,853$ 8,167,853$ 7,898,653$ 7,637,453

Draws to offset amount of assessment growth less than 3%(508,300)(638,600)(1,027,200)(1,326,000)(1,063,600)(1,478,900)(978,900)(478,900)--

Eliminate Growth Rate Stabilization Strategy over three years--500,000500,000478,900--

Growth Rate Stabilization Strategy Draw(1,326,000)(1,063,600)(978,900)(478,900)---(1,457,800)

Draws to reduce property tax rate increase(676,671)(1,313,100)(1,264,300)-------

Draws for one time Items:

Records Information Management operating costs-(93,200)(93,200)(93,200)-

Minor Capital for staffing requests-(147,900)(176,000)(168,000)(164,000)

Capital Project Closure1,965

Lois Hancey Aquatic Centre temorary pool closure(92,100)----

Economic Development Strategy(50,000)----

Ice Storm Funding(2,664,116)2,031,849

Total Draws(1,184,971)(1,951,700)(2,291,500)(3,990,116)970,214(1,121,000)(720,000)(269,200)(261,200)(164,000)

Surplus/(Deficit) Allocation749,745274,561(195,963)258,778255,146670,000----

Insurance Recovery1,000,000----

Ending Balance$ 15,087,294$ 13,371,825$ 10,778,112$ 7,113,493$ 8,338,853$ 8,887,853$ 8,167,853$ 7,898,653$ 7,637,453$ 7,473,454

Percentage of Prior Year's Operating Budget13%10%9%5%6%6%5%5%5%4%

Assessment Growth2.33%2.20%1.74%1.45%1.80%1.42%1.50%1.50%1.50%1.50%

Stabilization Strategy0.67%0.80%1.26%1.55%1.20%1.58%0.51%0.00%0.00%0.00%

148,800,000156,200,000162,000,000168,300,000174,100,000

Operating Budget Forecast

478900

Comparison

Town of Richmond Hill

Tax Rate Stabilization Reserve

2017 Draft Budget

Annual DrawThree Year Phase-InAnnual DrawMayor's MotionAnnual DrawCouncillor Chan's Motion

1,478,9001,478,9001,478,900

2016978,900500,000978,900500,000978,900500,000

2017478,900500,000734,200244,700978,900- 0

2018- 0478,900489,500244,700TBDTBD

2019- 0- 0244,800244,700TBDTBD

2020- 0- 0244,800TBDTBD

Cumulative Draws1,457,8002,447,400TBDTBD

Impact on Reserve Balance - Decrease(989,600)TBD

Sheet3

TOWN OF RICHMOND HILL

GL TRANSACTIONS EXTRACT

FOR ACCOUNT 043-101040 TO 043-101040 FROM DATE 2014-12-01 TO 2016-12-31

AS AT 28-FEB-2017 09:18:51

AccountAcct DescriptionFundSubfundBalance Forward

DatasetTransaction DateSubsystemBatchVoucher #User IdDescriptionAmount

043 101040TAX RATE STABILIZATION 043004(7,113,492.92)

201501/01/2015GL20579158018NSAReserve Fund Entry - JAN88,600.00

201502/01/2015GL20582158019NSAReserve Fund Entry - FEB88,600.00

201503/01/2015GL20583158020NSAReserve Fund Entry - MAR88,600.00

201504/01/2015GL20585158021NSAReserve Fund Entry - APRIL88,600.00

201505/01/2015GL20584158022NSAReserve Fund Entry - MAY88,600.00

201506/01/2015GL20586158023NSAReserve Fund Entry - JUNE88,600.00

201507/01/2015GL20587158024NSAReserve Fund Entry - JULY88,600.00

201508/01/2015GL20588158025NSAReserve Fund Entry - AUGUST88,600.00

201509/01/2015GL20589158026NSAReserve Fund Entry - SEPT88,600.00

201510/01/2015GL20590158027NSAReserve Fund Entry - OCT88,600.00

201511/01/2015GL20591158028NSAReserve Fund Entry - NOV88,600.00

201512/01/2015GL20592158029NSAReserve Fund Entry - DEC88,600.00

201512/01/2015GL20593158030NSAReserve Fund Entry - DEC400.00

1,063,600.00

201504/30/2015GL20784150172TXNProvince of Ont. MMAH-MAH-Inte(1,137,159.01)

201512/31/2015GL22583150808TXNSTORM PAYMENT(842,504.30)

201512/31/2015GL23030150990TXNEFT Mar04/16 Gov Ontario(52,185.95)

(2,031,849.26)

201511/23/2015GL22285159180DDSAppendix A SRCFS.15.045(1,964.89)

(1,964.89)

201512/31/2015GL23190151039TXN2015 SURPLUS, BY LAW 109-13(251,890.00)

201512/31/2015GL23190151041TXN2015surplus,BL109-13additional(3,256.32)

(255,146.32)

(8,338,853.39)

201612/14/2015GL22592150808TXNSTORM PAYMENT842,504.30

201612/14/2015GL23144150990TXNEFT Mar04/16 Gov Ontario52,185.95

201601/14/2016GL22482168010HXLJan ice storm payment(842,504.30)

201603/31/2016GL23012160085NXDProv. Of Ont. MMH MAH Ice stor(52,185.95)

201601/01/2016GL22840168024NSAReserve Fund Entry - JAN81,600.00

201602/01/2016GL22841168025NSAReserve Fund Entry - FEB81,600.00

201603/01/2016GL22842168026NSAReserve Fund Entry - MARCH81,600.00

201604/01/2016GL22843168027NSAReserve Fund Entry - APRIL81,600.00

201605/01/2016GL22844168028NSAReserve Fund Entry - MAY81,600.00

201606/01/2016GL22845168029NSAReserve Fund Entry - JUNE81,600.00

201607/01/2016GL22846168030NSAReserve Fund Entry - JULY81,600.00

201608/01/2016GL22847168031NSAReserve Fund Entry - AUGUST81,600.00

201609/01/2016GL22848168032NSAReserve Fund Entry - SEPT81,600.00

201610/01/2016GL22849168033NSAReserve Fund Entry - OCT81,600.00

201611/01/2016GL22850168034NSAReserve Fund Entry - NOV81,600.00

201612/01/2016GL22851168035NSAReserve Fund Entry - DEC81,600.00

201612/01/2016GL22852168037NSACorporate Reserve Entry(300.00)

978,900.00

201603/01/2016GL22649168015HXLSavings from 3 mths shutdown(35,100.00)

201603/01/2016GL22649168015HXLRev loss from 3 mths shutdown127,200.00

92,100.00

201607/14/2016PP6268 VCD0000147002 TAX RATE STABILIZAT(1,000,000.00)

(1,000,000.00)

Ec Dev - not entered yet50,000.00

50,000.00

(8,217,853.39)

Growth Stabilization Impact

28

Three Year Phase-In

Reductions

Mayor’s Motion

Councillor Chan’s Motion

2016 Recognized Unsustainable Funding Source $1,478,900

2016 500,000 500,000 500,000 2017 500,000 244,700 - 2018 478,900 244,700 500,000 2019 - 244,700 478,900 2020 - 244,800 -

Projected Reserve Balance, 2020 $7,473,454 $6,483,854 $6,494,554

2017 Average Single Detached Residential Property Average Single Detached Residential Property New CVA – $1,148,000

Estimated Annual Tax Impact Town Portion of

Tax Bill As presented in the staff report $81.83 Mayor’s Motion $76.60 Councillor Chan’s Motion $73.45

Discussion

30

Slide Number 1Overview2017 Operating Budget Strategy2017 Operating Budget ProcessEconomic ClimateGrowth IndicatorsOperating Budget – January 24Town Services – Base PressuresTown Services – Growth PressuresTown Services – LegislatedTown Services – Service EnhancementsTown Services – Unsustainable Funding Sources Operating Budget – Richmond�Hill Fire & Emergency Services Operating Budget – Richmond�Hill Public Library BoardMayor‘s Motion – January 24Operating Budget – February 14Operating Budget SummaryOperating Budget Revenues2017 Average Single Detached Residential PropertyWater, Wastewater & StormwaterCapital Asset Sustainability Financial Outlook and�Staffing Plan Mayor’s Motions – Feb. 24Operating Budget ImpactCouncillor Chan’s Motion – Feb. 27Operating Budget ImpactTax Rate Stabilization ReserveGrowth Stabilization Impact2017 Average Single Detached Residential PropertyDiscussion