CitySSM

City staff has outlined a plan for council in being able to finalize its budget earlier in the year.  The report is an information item for Monday’s meeting and its suggested the recommended changes will allow council to approve a budget by late February or early March in 2016 and ultimately within the month of January by 2018.  The changes would involve working with both the District Social Services Administration Board and Algoma Public Health in estimating levy amounts along with estimating the size of any potential surplus.  Any shortfall from the estimates would be covered by reserve funds and one such fund identified is the Contingency or Working Fund Reserve.  The report also explains that the city by the end of each year prior to the budget process will know its provincial grant funding level.

The City has made a preliminary application for funding through the Ontario Community Infrastructure Fund for the 3.1-million dollar Bay Street project.  The city is looking to land 2-million in provincial funding support.  The Bay Street project is the subject of an environmental assessment which is scheduled to be completed this fall.  The preferred alternative will likely involve reducing the road from 4 lanes to 3 with a multi-use trail in the south boulevard.

City council will be asked at Monday’s meeting to approve a bylaw authorizing the city to enter into a funding agreement with the two senior levels of government for the 31.3-million dollar Fort Creek aqueduct project.  The contribution agreement calls for an equal share between the three parties.  The city’s 10.4-million dollar share will be met through a 2-million dollar annual capital allowance in the approved 5-year capital works plan—–so the funding has already been identified and there is no additional impact.  The 1st phase of the 7-year project was completed in 2013 and the engineering for phase 2 is well underway.