Administration Finance Committee

Resolved that the Committee retire to closed session to discuss a personal matter under Section 239(2)(b) of the Municipal Act.

Resolved that the Committee return to open session.

Resolved that Report FCR 11-07 dated March 24, 2011 with reference to the Grimsby Fire Department Budgets - Revised Strategy and Information Paper be received for consideration in the overall Municipal Budget and shall modify the recommendations of FCR 11-02, FCR 11-03 and FCR 11-04.

Resolved, that Report FIN 11-11 dated March 25, 2011 regarding the 2011 Consolidated Budget be received, and 1. That in accordance with Ontario Regulation 284/09 the Town exclude from its current estimates amounts for amortization expense and post- employment benefits expenses; and 2. That the Consolidated Budget Summary appearing as Schedule A to Report FIN 11-11 be approved and that the 2011 general tax levy of $7,796,130 and a capital tax levy of $638,500 resulting in a total levy of $8,434,630 be included in the 2011 Tax Rate By-law; and 3. That payment of the actual costs applicable to the debenture financing of the Grimsby Library/Art Gallery and the Peach King Center be derived from the interest and related payments provided to the Town through a promissory note with Grimsby Power Inc.; and 4. That for purposes of certainty and direction the amounts assessed to the operating budget for payment of the debentures identified in recommendation 3 are to be removed at the expiration of the debenture in 2014. 5. That the sanitary sewer operating budget in the amount of $4,623,700 and the water system operating budget in the amount of $4,926,210 be approved.