Administration Finance Committee

Resolved that Report FIN 13-12 dated March 26, 2013 regarding the 2013 Consolidated Budgets be received, and Page 2 of 2 Administration & Finance March 27, 2013 1. That the 2013 consolidated general budget of $20,754,035. and a general tax levy of $9,299,260. as outlined in Schedule "A" be approved and included in the 2013 tax rate by-law; and 2. That the 2013 consolidated sanitary sewer budget of $5,870,100 and a sanitary sewer levy of $4,727,100 as outlined in Schedule "B" be approved and included in the 2013 tax rate by-law; and 3. That the 2013 consolidated water budget of $6,999,230. as outlined in Schedule "B" be approved and included in the 2013 water rate by- law; and 4. That payment of the actual costs applicable to the debenture financing of the Grimsby Library/Art Gallery and the Peach King Centre be derived from the interest and related payments provided to the Town through a promissory note with Grimsby Power Inc.; and 5. That for purposes of certainty and direction the amounts assessed to the operating budget for payment of the debentures identified in recommendation 4 be removed at the expiration of the debenture in 2014; and 6. That in accordance with Ontario Regulation 284/09, the Town exclude from its current estimates amounts for amortization expense and post-employment benefit expenses.