2012 approved budget and financial plan - Regional Municipality of ...

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18 Debt Policy The Municipality’s debt management policy establishes debt and debt service limit thresholds that satisfy the following objectives: ‣ Ensure the maximum debt and debt service limit is lower than the debt and debt service limit established under the Municipal Government Act and regulations; ‣ Provide flexibility during changing economic conditions; ‣ Effectively manage debt with ability to pay; ‣ Effectively support initiatives as identified in the Corporate Strategic Plan, Departmental Business Plans, Budgets and Financial plans; and ‣ Establish thresholds for acquiring debt versus other funding sources In July 2010, Council reviewed and set debt and debt service limits at 75% limits provided in the Municipal Government Act. Investment Policy The Municipality’s investment policy aims for the following objectives: ‣ Safety – Safety of principal is the foremost objective of the investment program. The Municipality will ensure that sufficient diversification exists within the investment portfolio; ‣ Liquidity – The investment portfolio will remain sufficiently liquid or (easily converted to cash) to enable the Municipality to meet its operating and capital cash flow requirements, which may be reasonably anticipated in the short and long-term. To the extent possible, the Municipality will attempt to match its investments with anticipated cash flow requirements; ‣ Return on Investment – The investment portfolio shall be designed with the objective of attaining a market rate of return, taking into consideration the Municipality’s investment risk constraints and liquidity requirements Further, the Municipality’s investment activities are guided by the Municipal Government Act (MGA). RESERVES As part of a deliberate long-term planning and fiscal sustainability efforts, the Municipality has put in place two major reserves - Emerging Issues and Capital Infrastructure. Emerging Issues Reserve (EIR) The Municipality has put in place the Emerging Issues Reserve to stabilize operating revenues in response to unanticipated loss of revenue as well as provide funding flexibility in responding to emergencies, unplanned events, and significant price changes. The minimum EIR balance is $50 Million while the maximum is set at 15% of prior years audited net property tax revenue. Council approval is required to utilize funding from the Emerging issues Reserve. Capital Infrastructure Reserve (CIR) The Municipality has put in place the Capital Infrastructure Reserve to fund unanticipated capital program requirements i.e. construction or acquisition of tangible capital assets. The minimum CIR balance is $50 Million and Council approval is required to utilize funding from the Capital Infrastructure Reserve.
19 2012 APPROVED BUDGET ‘Investing in Sustainable Communities’
Page 1 and 2: 2012 APPROVED BUDGET AND FINANCIAL
Page 4 and 5: 4 2012 APPROVED BUDGET DOCUMENT REA
Page 6 and 7: INTRODUCTION 6
Page 8 and 9: 8 MUNICIPAL DEVELOPMENT PLAN WHAT
Page 10 and 11: 10 Work Together: Provide good gov
Page 12 and 13: 12 A MESSAGE FROM THE CHIEF ADMINIS
Page 14 and 15: 14 END STATE Wood Buffalo has emerg
Page 16 and 17: 16 BUDGET AND FINANCIAL POLICIES Th
Page 20 and 21: 20 OUTLOOK The Regional Municipalit
Page 22 and 23: 22 EXPENDITURE ASSUMPTIONS Goods &
Page 24 and 25: 24 2012 BUDGET & 2013 -2017 PLAN GU
Page 26 and 27: 26 CAPITAL BUDGET DEVELOPMENT GUIDE
Page 28 and 29: 28 CAPITAL FUNDING SOURCES An effec
Page 30 and 31: 30 A MESSAGE FROM THE CHIEF FINANCI
Page 32 and 33: 32 OPERATING REVENUE The approved 2
Page 34 and 35: 34 FUND DESCRIPTION & FUND STRUCTUR
Page 36 and 37: 36 REVENUE SUMMARIES The Regional M
Page 38 and 39: 38 4. SALES OF GOODS/SERVICES Sales
Page 40 and 41: EXPENDITURE SUMMARIES 2008 - 2012 4
Page 42 and 43: 42 In recent years, the Municipalit
Page 44 and 45: 44 5. FIXED ASSET ACQUISITION Acqui
Page 46 and 47: PERSONNEL SUMMARIES 2008 - 2012 46
Page 48 and 49: 48 POPULATION AND EMPLOYEES Total e
Page 50 and 51: 50 2012 APPROVED PERSONNEL BUDGET T
Page 52 and 53: DEBT AND DEBT MANAGEMENT SUMMARIES
Page 54 and 55: 54 subsequent debt management optio
Page 56 and 57: 56 DEBT BURDEN Debt financing requi
Page 58 and 59: 58 2012 CAPITAL BUDGET AND 2013 - 2
Page 60 and 61: 60 CAPITAL PLANNING AND BUDGET OVER
Page 62 and 63: CAPITAL IMPROVEMENT PROGRAM MAJOR C
Page 64 and 65: 64 PUBLIC FACILITIES Public facilit
Page 66 and 67: Financial Update Project Name Budge
Page 68 and 69:
68 Financial Update Project Name Bu
Page 70 and 71:
70 2013 CAPITAL PLAN Project Name A
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72 Project Name Annual Cost North M
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74 Project Name Annual Cost Technol
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76 RECREATION AND CULTURE Recreatio
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Financial Update Project Name Budge
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80 2013 CAPITAL PLAN Project Name A
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TRANSPORTATION 82
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84 Financial Update Project Name Bu
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86 2015 - 2017 CAPITAL PLAN Project
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APPENDIX A ECONOMIC PROFILE
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Table of contents DISCLAIMER 4 A UN
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A UNIQUE REGION IN EVERY WAY The Re
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oIL SANDS PROJECTS • $120 billion
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econoMIC IMPACTS OF alberta’s OIL
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The Fort McMurray Airport serves 71
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Population and Demographics Over 32
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Wood Buffalo residents enjoy income
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economic highlights Tenth best entr
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Lifestyle and Community Services He
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SUNCOR COMMUNITY LEISURE CENTRE The
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CONTACTS Jeff Penney Manager, Econo
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APPENDIX B REGIONAL MUNICIPALITY OF
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introduction The Strategic Plan ide
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term and scope of the strategic pla
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In addition to the core principles
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priority 1DIRECT RESPONSIBLE GROWTH
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priority 3REVITALIZE THE CITY CENTR
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priority 5PROMOTE THE DEVelopment O
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priority 7INCREASE ECONOMIC DEVelop
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priority 9INVEST IN ARTS, recreatio
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APPENDIX C 2011 - 2014 FISCAL MANAG
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Contents 1.0 INTRODUCTION AND ASSUM
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The following assumptions relate to
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However, during the same period, th
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3.0 DEBT AND DEBT SERVICE 3.1 Total
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80.00% 70.00% 60.00% 50.00% 40.00%
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The following graph indicates proje
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5.0 FINANCIAL CONDITION INDICATORS
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20% 15% 10% 5% 0% Financial Vulnera
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GLOSSARY OF TERMS
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Division - This is an administrativ
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SAA - Senior Administrative Assista
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