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REPORT TO:Finance and Corporate Services Committee <br />DATE OF MEETING:January 22, 2018 <br />SUBMITTED BY:Ryan Hagey, Director of Financial Planning, 519-741-2200 x 7353 <br />PREPARED BY:RyanHagey, Director of Financial Planning, 519-741-2200 x 7353 <br />WARD(S) INVOLVED:All <br />DATE OF REPORT:December 21, 2017 <br />REPORT NO.:FCS-18-001 <br />SUBJECT:2018 Final Budget <br />___________________________________________________________________________ <br />RECOMMENDATION: <br />For Discussion <br />BACKGROUND: <br />Detailedreports and presentations on the Operating and Capital budgets were <br />considered by Committee in November.This final budget day packagesupplements the <br />information provided previously and is primarily meant to: <br />Provide updates on the Operating and Capital Budgets <br />Provide information required by the Municipal Act <br />REPORT: <br />Operating Budget <br />As presentedto Council during the operating budget discussion,highlights of the <br />proposed operating budgetinclude: <br />1.Affordability & sustainability <br />2.Investing in infrastructure <br />3.Creating community <br />Tax Supported Operating Budget <br />The proposed net tax levy increase for 2018is 1.7%, which approximates the rate of <br />inflation. As noted during the operating budget presentation, assessment growth <br />revenues are slightly higher than expected, so Council will have an opportunity to <br />decide whether to invest these additional funds in service delivery, save them for a <br />future use by putting them in reserve, or reduce the net tax levy increase to 1.66%. <br />*** This information is available in accessible formats upon request. *** <br />Please call 519-741-2345 or TTY 1-866-969-9994 for assistance. <br />FINAL - 1 <br />