Motions to Approve Draft 2020 Budget Operating and Capital Budget - Passed

At Cobourg Municipal Council's 2020 Operating and Capital Budget Review Meetings held on Thursday, January 9th and Friday, January 10th, the following Motions regarding the Draft 2020 Budget passed:

Motion to approve Draft 2020 Town of Cobourg Operating and Capital Budgets

Moved by Mayor John Henderson, WHEREAS the Committee of the Whole has considered the 2020 Town of Cobourg Operating and Capital Budget recommendations as presented at the Committee of the Whole Budget Meeting held on January 9 and January 10, 2020;

NOW THEREFORE BE IT RESOLVED THAT Council approve the 2020 Capital Budget in the amount of $8,982,728; and FURTHER THAT Council approve the 2020 Operating Budget with the Municipal Levy of 24,761,992 which represents a %3.2 increase over the 2019 Operating Budget and a 2.2% net increase after allowing for New Assessment Growth of 1%. Carried

Moved by Mayor John Henderson, WHEREAS the Committee of the Whole has considered the 2020 Town of Cobourg Environmental Services Budget recommendations as presented at the Committee of the Whole Budget Meeting held on January 9, 2012; Committee of the Whole Meeting Report JANUARY 10, 2020

NOW THEREFORE BE IT RESOLVED THAT Council approve the 2020 Operating Budget for Environmental Services for the Town of Cobourg indicating Total Revenue of $6,535,755 and Total Expenditures of $3,795,050 resulting in a Net Operating Surplus of $(2,740,705) which will be transferred to the Sewer Rates Reserve; and

FURTHER THAT Council approve the 2020 Capital Budget for Environmental Services for the Town of Cobourg in the amount of $3,915,000 as outlined on the summary report. Carried