Budget Committee of the Whole - June 24
- Marian
- Jun 24
- 3 min read
Budget Committee of the Whole Meeting Tuesday June 24, 2025 at 1:30pm
Meeting Agenda: View Meeting Agenda
Watch Meeting: Meeting Video
Agenda Items Include:
The report provides an update on Richmond Hill’s financial reserves and reserve funds as of the end of 2024. The City’s reserves reached $479.85 million, reflecting strong financial management and a 5.93% increase from the previous year. These funds ensure money is available for key needs like infrastructure, services, and emergency situations.
Some key highlights:
Housing Accelerator Fund Grant Reserve Fund: A new fund is being established to manage federal housing program contributions.
Ontario Cannabis Legalization Implementation Reserve: Recommended for closure, with remaining funds being transferred to another reserve.
Development Charges & Growth Funding: These reserves grew significantly due to increased development activity, though ongoing provincial policy changes may impact future revenue.
Stormwater & Infrastructure Planning: Council is considering financing options to support long-term water infrastructure needs.
Reserve Realignment: Some reserves are being adjusted to better align with financial priorities.
Overall, the report emphasizes financial stability, strategic planning, and adapting to legislative changes while ensuring Richmond Hill remains well-prepared for future community needs. L
This report provides an overview of how Richmond Hill managed funds collected from Development Charges, Cash-in-Lieu of Parkland, and Community Benefits Charges in 2024. These funds are used to finance infrastructure and community services needed as the city grows.
Key points:
Richmond Hill collected $34.53 million in development charges and spent $21.34 million on capital projects, including roads, parks, and sanitary improvements.
The Cash-in-Lieu of Parkland fund grew by $4.77 million, with significant funds used for park revitalization projects.
No new Community Benefits Charges were collected, but $0.10 million was spent on improvements like tennis courts.
The city granted 102 exemptions for residential units and deferred charges for a long-term care facility.
Although development charge collections have generally increased, 2024 revenue was lower than forecasted due to a weaker housing market.
Richmond Hill remains compliant with provincial laws and continues to strategically plan infrastructure investments for long-term sustainability.
This report outlines Richmond Hill’s Stormwater Management Capital Financing Plan to address long-term infrastructure needs and ensure resilience against flooding and erosion.
Key points:
The City requires $22.1 million in funding for stormwater improvements.
Instead of external borrowing, Richmond Hill will use internal financing from the Community Enhancement and Economic Vitality Reserve Fund at 3.5% interest over 20 years.
Repayments will start in 2026 and continue annually until 2050, totaling approximately $31.2 million (principal + interest).
The financing will be supported by rate increases in stormwater fees.
This approach provides lower costs, more flexibility, and avoids external approval delays.
Stormwater infrastructure is crucial for preventing floods, maintaining water quality, and protecting the community. The plan ensures funding is available while keeping costs manageable.
This report outlines updates to Richmond Hill’s 2026 Tariff of Fees By-law, which sets prices for city services. The annual review ensures fees remain fair, align with inflation (set at 2% for 2026), and support cost recovery.
Key points:
1,262 fees will be applied next year, including 15 new fees, mostly in recreation, public works, and licensing.
A new $10 cap is proposed for non-sufficient funds (NSF) payment fees, aligning with federal banking rules.
Fees related to fire training, waste collection, facility rentals, and recreation programs are adjusted to reflect market rates and operating costs.
Richmond Hill expects $525,700 in additional revenue for city operations and $45,900 for water and wastewater services through these changes.
The proposed fee updates will be reviewed by Council on July 9, 2025, with changes effective January 1, 2026.
The goal is to balance affordability while ensuring Richmond Hill can fund key community services.
Public Comments:
The public may submit written correspondence regarding agenda items by email to clerks@richmondhill.ca. Written correspondence must be submitted by 12 p.m. (noon) one business day before the meeting. Comments submitted will be provided to all Members of Council, are considered as public information and will be included on the public agenda posted to the City’s website.
Delegations:
Any person who wishes to speak to Council on agenda items must pre-register with the Office of the Clerk by 12 p.m. (noon) one business day before the meeting. Applications to appear as a delegation can be submitted by email to clerks@richmondhill.ca or by using the on-line application form. Delegations can be in person, or electronically by video conference or telephone. The Office of the Clerk will provide instructions on appearing as a delegation.
