On Tuesday, April 5th, the Finance and Economic Development Committee approved the 2021 operating results and disposition of any surplus, or funding of any deficit, in preparation for year-end financial statements.
Analysis of the 2021 operations for all tax and rate-supported City programs showed an overall surplus of $52.2 million.
Once the Council approved policies and by-laws are implemented, the overall contribution to the Tax Stabilization Reserve is $23.3 million. $13.6 million of this contribution is earmarked as back-stop funding to support the Respite Services Sustainability Plan, as approved by the Community and Protective Services Committee, as a risk mitigation strategy if funding is not provided by other levels of government.
