2016-2018 mayor mcdonald’s plan. objectives of plan reasonable tax levy preserve city services...
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2016-2018 Mayor
McDonald’s Plan
Objectives of Plan• Reasonable tax levy• Preserve City services• Protection of capital investment• Reduction of debt• Reserve preservation• Investment in growth• Multi-year plan
Projected Outcome of Plan
2015 2016 2017 2018 2019 2020 2021 2022 2023
Personnel 38,128,112
39,434,407
40,324,781
41,243,459
42,191,614
43,170,473
44,181,322
45,225,504
46,304,428
Goods and Services 18,500,489
19,660,929
20,103,172
20,679,163
21,440,989
22,240,895
23,081,296
23,964,791
24,894,177
Financial Expenses 10,440,249
10,663,749
10,572,850
10,502,752
10,439,740
10,663,106
10,693,102
10,660,789
10,944,339
Capital/Reserve Transactions
10,019,572
9,836,149
9,968,120
10,080,310
10,756,463
11,147,314
11,732,640
12,381,411
12,715,486
ABC's 36,268,596
37,081,880
37,913,715
38,764,529
39,634,763
40,524,866
41,435,299
42,366,534
43,319,053
Internal Transfers 3,054,575
3,084,841
3,115,410
3,146,692
3,178,296
3,210,223
3,242,479
3,275,066
3,307,987
Revenue
(37,065,961)
(38,846,925)
(38,662,557)
(38,819,301)
(37,102,027)
(37,086,217)
(37,146,435)
(37,207,857)
(37,270,507)
Grand Total 79,345,632
80,915,031
83,335,490
85,597,604
90,539,836
93,870,660
97,219,703
100,666,237
104,214,963
Levy % 1.98% 2.99% 2.71% 5.77% 3.68% 3.44% 3.55% 3.53%
Components of Plan• Consider calling Hydro Distribution and Hydro
Services Loans (Retain full ownership of Hydro)o $25.6 million total over 3 years
• Allocation of fundso Capital - $4 million a year for 3 yearso Operating
• 2016 $2,090,000• 2017 $1,750,000• 2018 $2,000,000
Components continued• Reduce annual debt issuance from 8.5 million to 5
million• Settle Hospital commitment • Eliminate the use of Stabilization fund ($390,000)• Invest in Community Development (CIP)
o 2016 $500,000o 2017 $250,000o 2018 $100,000
• CAO continues to have annual savings target of $200,000
Projected Outcomes of the Plan
• Debt 2015-2024 year end reduced by $9.9 million
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 -
10,000,000
20,000,000
30,000,000
40,000,000
50,000,000
60,000,000
Projected Outcomes of the Plan
• Annual Capital Investment Increase 2016-2024 $3.6 milliono Provincial and Federal Grants not included
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 18,000,000
19,000,000
20,000,000
21,000,000
22,000,000
23,000,000
24,000,000
Other Projected Outcomes of the Plan
• Retain our flexibility
• Reduced pressure on Tax Levy o 2016 1.98%o 2017 2.99%o 2018 2.71%