Agenda
Finance and Administration Committee


Finance and Administration Committee Meeting
Tuesday, October 4, 2016
Tom Davies Square
Mike Jakubo, Chair
Deb McIntosh, Vice Chair

6:00 p.m.

FINANCE AND ADMINISTRATION COMMITTEE MEETING
COUNCIL CHAMBER

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please call 3-1-1 or email clerks@greatersudbury.ca.

DECLARATIONS OF PECUNIARY INTEREST AND THE GENERAL NATURE THEREOF

Consent Agenda

(For the purpose of convenience and for expediting meetings, matters of business of repetitive or routine nature are included in the Consent Agenda, and all such matters of business contained in the Consent Agenda are voted on collectively. A particular matter of business may be singled out from the Consent Agenda for debate or for a separate vote upon the request of any Councillor. In the case of a separate vote, the excluded matter of business is severed from the Consent Agenda, and only the remaining matters of business contained in the Consent Agenda are voted on collectively. Each and every matter of business contained in the Consent Agenda is recorded separately in the minutes of the meeting.)

CORRESPONDENCE FOR INFORMATION ONLY

C-1. 2017 Budget Update
(FOR INFORMATION ONLY) (REPORT TO BE TABLED)
(The report will provide the Finance and Administration Committee with an update on the 2017 Budget.)

1.1 2017 Budget Update (pdf)

Regular Agenda

REFERRED & DEFERRED MATTERS

R-1. Report dated September 20, 2016 from the General Manager of Infrastructure Services regarding Sidewalk Winter Maintenance Report.

(ELECTRONIC PRESENTATION) (RESOLUTION PREPARED)
(This report provides options for sidewalk winter maintenance.)

1.1 Full Report (pdf)
1.2 Sidewalk Winter Maintenance Report (pdf)
1.3 Presentation - CGS Winter Control Update (pdf)

MANAGERS' REPORTS

R-2. Report dated September 21, 2016 from the Acting Chief Financial Officer/City Treasurer regarding Water and Wastewater Operating and Capital Expenditures Allocation.

(RESOLUTION PREPARED)
(This report provides the Finance and Administration Committee with information outlining the allocation of water and wastewater operating and capital expenditures.)

2.1 Full Report (pdf)

MEMBERS' MOTION

M-1. Debt for Development
As presented by Councillor Reynolds,

WHEREAS the City of Greater Sudbury has decided to focus on the Strategic Plan imperatives, namely, Infrastructure, Events Centre, Synergy Centre, Place Des Arts, and Library-Arts Complex;

WHEREAS all these projects require substantial public and private investments to undertake them;

WHEREAS interest rates for debt financing are at historic lows and are likely to remain so for the foreseeable future as per the most knowledgeable persons;

WHEREAS authoritative figures such as David Dodge of Bank of Canada and Nobel Laureate economist Paul Krugman, among others, are urging governments to take advantage of this low interest rate climate in order to undertake much needed public sector investments for development;

WHEREAS the City is in the enviable position of not being burdened by significant debt load from the past thus freeing the City to think long-term and invest in its future;

WHEREAS the City enjoys an impressive Revenue to Debt Ratio of 5.86 compared to Kitchener, Oakville, Barrie, Kingston, and London – all cities considered both responsible and doing well;

WHEREAS the City has financial investments in excess of 290 million dollars including 160 million dollars in Reserve for future actuarial needs; and

WHEREAS the state of City’s infrastructure, projects the image of a city in terminal decline akin to some small predominantly single resource towns and cities across North America;

BE IT RESOLVED, THEREFORE, to convene a special half-a-day-long meeting of the City Council to explore the contours of Debt for Development with the understanding that it is not a meeting for making any formal decisions but to inform ourselves of the possibilities;

AND FURTHER BE IT RESOLVED to invite interested individuals and institutions to come forward and outline their thoughts on the matter.

ADDENDUM

CIVIC PETITIONS

QUESTION PERIOD

NOTICES OF MOTION

ADJOURNMENT

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