Budget Committee of the Whole Meeting - May 6
- Marian
- 3 days ago
- 3 min read
Budget Committee of the Whole Meeting Tuesday May 6, 2025 at 1:30pm
Meeting Agenda: View Meeting Agenda
Watch Meeting: City's YouTube or Livestream
Agenda Items:
To present the financial operating results (unaudited) for the year ending December 31, 2024.
Key Points:
Operating Fund (general city services) had a surplus of $1.84 million:
$929,200 will go to the Tax Rate Stabilization Reserve (to smooth out future tax changes).
$913,800 will go to the Workplace Safety and Insurance Board (WSIB) Reserve Fund to address funding shortfalls.
Water & Wastewater Fund ran a deficit of $2.43 million:
This will be covered by the Water Rate Stabilization Reserve.
Stormwater Management Fund had a surplus of $197,500:
This will be transferred to the Water Quality Protection Reserve Fund.
Richmond Hill Public Library had a deficit of $136,600, to be funded with a one-time municipal grant.
Key Positive Contributions to the Surplus
Higher than expected tax penalties and interest ($2.27 million).
Strong performance in aquatics and fitness programs ($1.13 million).
Lower winter maintenance costs due to mild weather in 2024 ($871,000).
Increased parking fines, lottery revenues, and planning fees.
Key Negative Pressures
Personnel costs (especially fire department overtime) exceeded expectations.
Wave Pool repairs were costly due to serious infrastructure issues.
Lower than expected supplementary tax revenues.
Costs from a CUPE staff strike, including lost recreation revenues.
Rising maintenance and software costs in facilities and programs.
Other Notes
Building permit activity was strong, generating a $3.13 million surplus.
To report on the performance of the City’s Investment Portfolio for 2024, as required by the Municipal Act, 2001.
To support development of the City’s 2026 Budget, this report seeks Council
endorsement of the proposed timelines and guidelines for the development of the 2026 Capital Budget, Operating Budget and the Water, Wastewater and Stormwater Management Budgets.
Key Goals
Address rising costs of living, affordability challenges, and U.S. tariffs.
Balance investments in infrastructure and essential services.
Ensure long-term financial sustainability through planning and efficiencies.
Budget Limits (Funding Envelopes)
Maximum spending proposed from key sources:
$34.5M – Tax-supported reserves
$33.3M – Development charges
$8M – Cash-in-lieu of parkland
$34.1M – Water & wastewater reserves
$15.2M – Stormwater reserves
Capital Strategy
Focus on critical repairs, infrastructure growth, and service improvements.
Prioritize based on need, safety, and alignment with strategic goals.
Continue phased investment in public works and fire services.
Include a 1.5% Capital Asset Sustainability Levy in the tax rate.
Operating Budget Strategy
Aim to reduce the previously projected 5.61% tax rate increase.
Control spending, find efficiencies, and repurpose vacant staff positions.
Align services with community priorities and strategic goals.
Rate-Supported Budgets
Water/Wastewater: Assumes a 6% user rate increase.
Stormwater: Assumes a 50% user rate increase to build capital reserves and cover future debt.
Public Engagement
An online budget survey will launch at the end of May 2025.
Results will inform fall 2025 budget discussions.
Timeline Highlights
May–October 2025: Budget planning and public consultation.
November 18, 2025: Draft budget presented.
December 10, 2025: Mayor’s final budget adopted.
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.
