A. THAT Council approves the recommendation from the Finance Committee that the draft Interim Reserve Policy be discussed at a Special Committee of the Whole meeting of Council, Friday, May 16, 2008, at 9:00 am;
AND FURTHER, that the RCMP reserve funds transferred for the Middleton Road project be rectified.
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Agenda Package - 395Kb (p.8)
The Finance Committee, at its May 8, 2008 meeting, reviewed the above-noted item and adopted the following resolution:
"That the Finance Committee recommends to Council that the draft Interim Reserve Policy be discussed at a Special Committee of the Whole meeting of Council; AND FURTHER, the Finance Committee recommends that the RCMP Reserve funds transferred for the Middleton Road project be rectified.
CARRIED.
This information is to be discussed at a Special Committee of the Whole meeting of Council to be held on Friday, May 16th , 2008.
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Don Quixote Note: At a finance meeting attended by four council members although only 2 voted (Mayor and Coun. Cunningham) it was recommended that the RCMP Reserve funds transferred for the Middleton Road project be rectified. This should mean that they will transfer $787,483 into the RCMP reserve probably from the casino reserve. Then they will defer any transfers out of this or any other reserve to a special Cow Meeting on May 16th.
May 16 debate:
At this special meeting the RCMP reserve policy will be formalized along the following lines:
- The RCMP reserve shall have the net annual surplus from policing costs added to the reserve at year end.
- Transfers from this reserve will be authorized Council.
- The costs shall include determinations of overhead costs for internal support.
After Monday's meeting and the reestablishment of the correct reserve total for the RCMP and the deferral until May 16 on the Council Reserve Policy I will post the correct reserve balances for all the Cities Reserves and my take on the history, purpose and resolution as I see it.
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