S. Becker, Director of Financial Services/Treasurer reviewed the budget process and presented an overview of budget basics. She advised that it will probably be March before the municipality is advised of OMPF funding.
Council discussed whether they could solidify budget until they have received the OMPF information, CAO Best advised that at this point Council can follow through with the schedule as presented as the budget is an estimate. Director Becker advised that South Huron has rate stabilization resources to level off if there is a large difference in OMPF funding.
Councillor Neeb joined Council at 5:00 p.m.
Director Becker advised that the budget process normally is backed up and completed in December but the process was extended this year due to the election. She noted that the municipality receives much better for prices when tendering out in January. She advised that the reserves are not at the level that the capital budget would cover but that there is a decent amount for emergencies. She noted that any funds that come out of reserves require either a resolution, be approved by budget or required under legislation.
S. Becker advised that the Development Charges study expires March 2020. Director Becker clarified the levy increase with assessment and Council reviewed the tax impact.
S. Becker provided Council with background information on Council recreation reserves and funding considerations.
Councillor Willard joined the meeting at 5:15 p.m.
Council advised they are comfortable with the levy as a starting point for deliberation.