Legislative History: Enacted June 13, 2017 (By-law No. CPOL.-43-239); Amended June 26, 2018 (By-law No. CPOL.-351-342); Amended August 10, 2021 (By-law No. CPOL.-43(a)-238)
Last Review Date: July 25, 2023
Service Area Lead: Director, Financial Planning & Business Support (or written designate)
1. Policy Statement
The purpose of this policy is to formalize and clarify practices on the identification of operating surpluses by the City’s Boards and Commissions.
2. Definitions
Not Applicable.
3. Applicability
This policy applies to the City’s Boards and Commissions as it relates to the submission of their operating budget results.
4. The Policy
That a policy be established requiring the City’s Boards and Commissions to identify operating surpluses semi-annually as part of the Operating Budget Monitoring process as outlined in the City’s Surplus/Deficit Policy. The use or disposition of any surpluses will be determined through collaboration between the City and the particular Board or Commission.