FOURTH MEETING OF THE

2005 BUDGET SUB-COMMITTEE

TOWN OF MARKHAM

Canada Room, Markham Civic Centre

FEBRUARY 8, 2005

MINUTES

Budget Subcommittee Councillor D. Horchik, Chair Regional Councillor J. Heath Regional Councillor J. Jones Councillor S. Daurio Councillor E. Shapero Councillor A. Chiu Others: Mayor D. Cousens Reg. Councillor B. O'Donnell Councillor J. Webster Councillor G. McKelvey

Staff J. Livey, Chief Administrative Officer J. Baird, Commissioner of Development Services J. Sales, Commissioner of Community & Fire Services A. Taylor, Commissioner of Corporate Services D. McClean, Fire Chief B. Cribbett, Treasurer S. Birrell, Town Clerk A. Pozywiak, Director, Strategic Initiatives J. Lustig, Director of Financial and Client Services F. Wong, Manager, Financial Planning J. Kee, Committee Clerk

The 2005 Budget Sub-Committee meeting convened at the hour of 5:20 p.m. with Councillor D. Horchik in the Chair.

1. 2005 BUDGET PRESENTATION (7.4 & 7.5)

Mr. Joel Lustig, Director of Financial and Client Services, presented a brief review of the 2005 Budget Process to date. He reported that the total Budget being recommended for approval for 2005 is $257.5 Million, with a net tax rate increase of 3.9%.

2. RECOMMENDATION OF 2005 OPERATING,

CAPITAL AND WATER BUDGETS TO THE

COMMITTEE OF THE WHOLE FOR APPROVAL (7.4 & 7.5)

Moved by Councillor A. Chiu

Seconded by Regional Councillor B. O’Donnell

That the presentation on the Town of Markham’s 2005 Operating, Capital and Water Budgets be received;

And that the Budget Sub-Committee recommend that the 2005 Operating Budget of $137,354,323 (including a 3.9% property tax rate increase over 2004), be forwarded to the Committee of the Whole for approval;

And that the Budget Sub-Committee recommend that the 2005 Capital Budget of $75,884,688 be forwarded to the Committee of the Whole for approval;

And that the Budget Sub-Committee recommend that the 2005 Waterworks Budget of $44,220,802 be forwarded to the Committee of the Whole for approval.

CARRIED

The Chair advised that final approval of the 2005 Budget will be considered at the meeting of Committee of the Whole and Council later this date.

ADJOURNMENT

The fourth meeting of the 2005 Budget Sub-Committee adjourned at 5:30 p.m.