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2023-11-29 Finance Committee Agenda Packet - Open Session�B City of Saint John Finance Committee - Open Session AGENDA Wednesday, November 29, 2023 5:00 pm Meeting Conducted by Electronic Participation 1. Call to Order Pages 2. Approval of Minutes 2.1 Minutes of November 22, 2023 1 - 3 3. Approval of Agenda 4. Disclosures of Conflict of Interest 5. Consent Agenda 6. Business Matters 6.1 October 2023 Financial Report and Year End Projections 4 - 41 6.2 2023 Operating and Capital Reserves 42 - 48 7. Adjournment Finance Committee Meeting Open Session November 22, 2023 MINUTES— OPEN SESSION FINANCE COMMITTEE MEETING NOVEMBER 22, 2023 AT4:30 PM MEETING CONDUCTED BY ELECTRONIC PARTICIPATION Present: Mayor D. Noade Reardon Councillor G. Sullivan Councillor G. Norton Councillor D. Hickey Councillor P. Radwan Also Present: Chief Administrative Office B. McGovern Commissioner of Finance and Treasurer K. Fudge Acting Commissioner Growth & Community Services A. Poffenroth Fire Chief K. Clifford Commissioner Public Works & Transportation M. Hugenholtz Commissioner Utilities & Infrastructure I. Fogan Senior Manager Human Resources K. Shannon Director Financial Services J. Forgie City Solicitor J. Boucher Director Financial Services C. Lavigne Intermediate Accountant V. Parikh Director Corporate Performance S. Rackley-Roach Director Growth & Community Services D. Dobbelsteyn ERP Project Manager R. VanWart Senior Manager Community Support Services C. Coes Administrative Assistant A. MacLean Administrative Assistant K. Tibbits 1. Meeting Called to Order Councillor Sullivan called the Finance Committee open session meeting to order. 2. Approval of Minutes 2.1 Minutes of November 8, 2023 Moved by Mayor Noade Reardon, seconded by Councillor Radwan: RESOLVED that the minutes of November 8, 2023 be approved. MOTION CARRIED. 3. Approval of Agenda Moved by Mayor Noade Reardon, seconded by Councillor Norton: RESOLVED that the agenda of November 22, 2023 be approved. MOTION CARRIED. 4. Disclosures of Conflict of Interest Finance Committee Meeting Open Session November 22, 2023 No disclosures. 5. Consent Agenda 6. Business Matters 6.1 Enterprise Resource Management Ms. Van Wart reviewed the submitted presentation "Enterprise Resource Planning System" and provided an overview of the project in terms of ERP Goals, the project leadership and project team as well as the project timeline, next steps, and project implementation. Moved by Mayor Noade Reardon, seconded by Councillor Radwan: RESOLVED that the submitted presentation entitled "Enterprise Resource Planning System" be received for information. MOTION CARRIED. 6.2 2024 Proposed General Fund Operating Budget Mr. Fudge noted that the proposed 2024 General Operating Budget was first presented to the Finance Committee on November 8th. The Committee was asked for feedback with respect to an increase to the Heritage Fund grant, and/or any additional feedback. It is recommended that this proposed budget be forwarded to the next meeting of Common Council for a receive and file. Moved by Mayor Noade Reardon, seconded by Councillor Hickey: RESOLVED that as recommended in the submitted report "2024 Proposed General Fund Operating Budget' the Finance Committee approve the proposed 2024 General Fund Operating Budget and forward it to the next meeting of Common Council for receive and file and endorse the following: RESOLVED: 1. That the sum of $187,800,682 be the total Operating Budget of the City of Saint John for 2024. 2. That the sum of $150,579,477 be the Warrant of the City of Saint John for 2023. 3. That the tax rate for the City of Saint John be set at $1.58. 4. That the City of Saint John set the property tax rate for Heavy Industrial Class at 1.7 times the residential rate. 5. That the City of Saint John set the property tax rate for Non -Residential Class at 1.7 times the residential rate. 6. That Management Professional Group receive a wage increase of 3.5%for 2024. MOTION CARRIED. 6.3 2024 Utility Fund Operating Budget Mr. Fogan reviewed the submitted presentation entitled "2024 Utility Fund Operating Budget'. It represents the sixth consecutive year with no rate increases for ratepayers, which include both flat rate customers, which will see the annual cost remain at $1,428 per year, and metered customers who will not see changes in the cost per cubic meter and meter charges. The budget also includes rates for the Industrial Raw Water customers. Rate stabilization has been achieved for rate payers for the past six years despite the Utility experiencing stagnate revenues and increasing costs. Moved by Mayor Noade Reardon, seconded by Councillor Hickey: RESOLVED that the Finance Committee approve the proposed 2024 Utility Fund Operating Budget and forward to the next meeting of Common Council for approval of the first and second reading of Water and Sewerage Bylaw amendments. MOTION CARRIED. 6.4 2023 Fall Debenture Issue Mr. Fudge noted that the purpose of this report is to seek Finance Committee and Council approval to issue internal debentures to borrow funds for General Capital projects approved by Council and for the Utility fund that has an existing debenture that matured and requires refinancing. Finance Committee Meeting Open Session November 22, 2023 Staff are seeking to issue these debentures internally by using the City's own reserve funds, rather than the traditional route of borrowing through the New Brunswick Municipal Finance Corporation. The City will be able to redirect the interest paid on debentures directly back to itself. The estimated savings for both Utility and General Fund will amount to approximately $1.672M over the term of the debentures, along with additional savings for the General Fund, by borrowing over 10 years rather than the traditional 15-year term. Moved by Mayor Noade Reardon, seconded by Councillor Radwan: RESOLVED that the Finance Committee endorse the following recommendations and forward a copy of this report to Common Council for approval: RESOLVED that occasion having arisen in the public interest for the following Public Civic Works and needed Civic Improvements that the City of Saint John proposes issue of the following debentures to be dated on or after December 12, 2023: GENERAL FUND —10 years Transportation $ 750,000 Recreation and Culture $5,250,000 TOTAL $ 6,000,000 UTILITY FUND — 5 years Refinance Debenture AZ-12 2008 $875,000 MOTION CARRIED. 7. Adjournment Moved by Mayor Noade Reardon, seconded by Councillor Hickey: RESOLVED that the Finance Committee meeting be adjourned. Jd19l l[117►H1e1:IN1111! 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CL N ,d,^l W O N }/ //�� ,� V! /c/��a LL > N m N U N a, Nu =� '� o� O _� N � _ >t�A C60 O O C: cn O U 0 Q }, N 0 Q Ln O >. Nro Z3 Q E i U N o i.c � — a� a� ' O 0 N +j-0 4A r14 O O 00 > O OE +-+ r! I bpO �, �, rl a C: Q i O 0 W O O �--+ cn L cn 0 N N O > N ca �a N a"' a"' A A A A A A O oc A A A A N Mo m Mo Ca L CL O Mo Ca L 3 a� 025 i [a M N O N M N 0 N i N ate.+ U r 19C p 4-0 4jlr Q a-0 M O N W i/l. N � m lD o o, [n o Ol m ill Ln N rn rn I� - O N Ln tG Ol R* 00 rn lD lD M lD I� N O I,% lD N 173- N Ln RZZF O Ln O O =I O N Ln m 00 lD I� rn Ri* c-ri 06 r< e N =- Ln Ol Ol N Ol . Gn I- r-I 00 I� G1 N N Ln =- N I� Ol =- N R* lc rn N r-I r-I Ln Ln N Ln I� =- 173- 00 � ii Ol 00 R:::I- 00 '1 lD O N 00 cr Ln m � rn Ln m rn Ln N v-q lD 173- 173- 173- 00 rn � rn Ln Ln �I rn c-n lD - 173- N 00 O tG 00 00 00 lD r-I N t Ln Ln m = �Re M N M I� =- M I� lfl lD Ln Ln kz kz lD -::1- -* rn c�i rn 00 R 00 lD O 173- O 00 o I� rn o N Ol I� O N =- Ln a- N i U > � �p g- i -> Ln - m N � M� t; U Z:3 N L4-- N i — M � Z:3 X LU CA 4-0 a-0 O H c cn N � QD O) ai OD � � N N N 7-1 QD m Ln m 0o 0 m 0 cn �; QD 0 0) m Lr)Q O 00 to m Lr' cn 00 Iq 7-1 Ln O Ln 7-1 kD N 00 O 0) N m � N '> L m LA 70 m m H m /O� V 00 O r4 cm Ln � 00 Iq l0 00 00 cm 00 O1 I� `Y' 0 0 0 m Q � cn rn � O Ln N QD QD 00 Ln Q 00 � IqO I � O p) 0 O Ln tt IA N a� °J '> L m (� m m /G O fa _0 N N N a) O U U O N E O �fa N . fa ca can N i ate-+ CLa) =3 c O O a) O •Cep N Ul . _ O i Co cn a) }' -0-0 }' bD O i N � a--+ _0 `a) N },07-0 L O N 4 -+ -0 ate..+ _ V Q0 u � O cn N •i �� / O N f6 f6 a_+ a--+ C6 N f6 i 0 •.... U > N N O.C: i X m 41 O � 4-J CL cn •0 a)0 C: O ca > ca i -sa N 0 O 0 A A A 0 I L C ,O^ v I c: ate-+ c: N O � � �v � O > X " O > M O C: ' C: C: N O Li L O > O >` cn > L Zi w �-- W c E w 'a > �.O W MV 0 0 0 N 0 O N U N Q X a� U ca ,� cn C U ca ca -0 4-J U Q cn b.0 +, (3) O (1) +� U }, c� -0 =3 (3) _ N f6 O N N ateJ ateJ ate+ U LL 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Ln 0 0 0 0 0r*_ A A A A A A 14F, LL 0 0 0 0 Ln O " — > Ln .0 O �N�a a_+ 4—j f V -Ln c a U m N � _N N L oO �-+�C� 0-0 U + U n , N � ca }' ca VJ v M c M QLL U U O EO M ca U C }' i.i .p +� fu Li- o �' +j D N Q o�oo o O N DC +-+ O N p[ -Ln DC ca 07 I The City of Saint John 2023 General Fund Operating Budget October 2023 2023 YTD YTD YTD YE YE Budget Budget Actual Variance Forecast Variance Revenues Property Taxes 142,105,410 118,421,172 118,421,175 3 142,105,410 PILTAdjustment 64,323 64,323 64,323 64,323 Equalization & Unconditional Gran 15,321,432 12,767,860 12,767,860 15,321,432 Surplus 2nd Previous Year 1,753,145 1,460,940 1,460,954 14 1,753,145 Transfer from Operating Reserves 800,000 - - - - (800,000) Growth & Community Services 4,327,812 3,666,783 4,836,453 1,169,670 5,712,168 1,384,356 Public Works & Transportation Ser 5,599,798 4,687,190 5,153,722 466,532 6,270,788 670,990 Public Safety Services 1,976,432 1,817,902 2,108,809 290,907 2,967,127 990,695 Utilities & Infrastructure Services 317,000 241,390 217,373 (24,017) 274,115 (42,885) Strategic Services 3,178,518 2,641,260 5,482,213 2,840,953 6,739,933 3,561,415 Corporate Services 285,000 216,660 476,090 259,430 476,083 191,083 Saint John Energy Rebates 1,012,000 - - - - (1,012,000) Regional Serivices Commission 546,630 - - - 546,630 - Total Revenues 177,287,500 145,985,480 150,988,973 5,003,493 182,231,153 4,943,653 Expenditures Growth & Community Services 18,580,739 15,191,339 14,617,348 573,991 18,484,031 96,708 Public Works & Transportation Ser 41,715,344 32,995,811 31,782,390 1,213,421 41,676,658 38,686 Public Safety Services 59,633,669 48,039,648 45,632,321 2,407,327 58,311,465 1,322,204 Utilities & Infrastructure Services 6,994,893 5,716,758 5,526,236 190,522 6,923,514 71,379 Strategic Services 7,917,074 6,951,480 5,796,129 1,155,351 7,135,978 781,096 Corporate Services 7,443,379 6,123,212 6,068,640 54,572 7,807,471 (364,092) Other Charges 35,002,402 25,188,675 26,591,582 (1,402,907) 37,407,904 (2,405,502) Total Expenditures 177,287,500 140,206,923 136,014,645 4,192,278 177,747,022 (459,522) Surplus (Deficit) - 5,778,557 14,974,327 9,195,770 4,484,132 4,484,132 3� City of Saint John Service Areas 2023 Salaries and Goods & Services " 4j� October 2023 2023 YTD YTD YTD YE YE Budget Budget Actual Variance Forecast Variance Growth & Community Services Salaries 5,332,525 4,374,989 4,160,902 214,087 4,882,485 450,040 Goods & Services 13,248,214 10,816,350 10,456,446 359,904 13,601,547 (353,333) TOTAL 18,580,739 15,191,339 14,617,348 573,991 18,484,031 96,707 Public Works & Transportation Services Salaries 16,645,616 13,735,933 13,440,145 295,788 16,459,274 186,342 Goods & Services 25,069,728 19,259,878 18,342,246 917,633 25,217,384 (147,656) TOTAL 41,715,344 32,995,811 31,782,390 1,213,421 41,676,658 38,686 Public Safety Services Salaries 48,826,474 39,231,195 37,374,097 1,857,098 47,058,451 1,768,023 Goods & Services 10,807,195 8,808,453 8,258,224 550,229 11,253,014 (445,819) TOTAL 59,633,669 48,039,648 45,632,321 2,407,327 58,311,465 1,322,204 Utilities & Infrastructure Services Salaries 3,575,653 2,956,793 2,754,524 202,269 3,365,897 209,756 Goods & Services 3,419,240 2,759,965 2,771,712 (11,747) 3,557,617 (138,377) TOTAL 6,994,893 5,716,758 5,526,236 190,522 6,923,514 71,379 Strategic Services - - Salaries 4,003,562 3,311,368 2,913,514 397,854 3,551,111 452,451 Goods & Services 3,913,512 3,640,112 2,882,615 757,497 3,584,867 328,645 TOTAL 7,917,074 6,951,480 5,796,129 1,155,351 7,135,978 781,096 Corporate Services - - Salaries 5,266,536 4,319,377 4,153,605 165,772 5,018,999 247,537 Goods & Services 2,176,843 1,803,835 1,915,035 (111,200) 2,788,472 (611,629) TOTAL 7,443,379 6,123,212 6,068,640 54,572 7,807,471 (364,092) Other Charges Goods & Services 35,002,402 25,188,675 26,591,582 (1,402,907) 37,407,904 (2,405,502) 35,002,402 25,188,675 26,591,582 (1,402,907) 37,407,904 (2,405,502) Total Expenditures 177,287,500 140,206,923 136,014,645 4,192,278 177,747,022 (459,523) 31 The City of Saint John 2023 General Fund Operating Budget October 2023 2023 YTD YTD YTD YE YE Budget Budget Actual Variance Forecast Variance Revenues Property Taxes 142,105,410 118,421,172 118,421,175 3 142,105,410 PILT Adjustment 64,323 64,323 64,323 64,323 Equalization & Unconditional Gran 15,321,432 12,767,860 12,767,860 (0) 15,321,432 Surplus 2nd Previous Year 1,753,145 1,460,940 1,460,954 14 1,753,145 Transfer from Operating Reserves 800,000 - - - - (800,000) Growth & Community Services 4,327,812 3,666,783 4,836,453 1,169,670 5,712,168 1,384,356 Public Works & Transportation Ser 5,599,798 4,687,190 5,153,722 466,532 6,270,788 670,990 Public Safety Services 1,976,432 1,817,902 2,108,809 290,907 2,967,127 990,695 Utilities & Infrastructure Services 317,000 241,390 217,373 (24,017) 274,115 (42,885) Strategic Services 3,178,518 2,641,260 5,482,213 2,840,953 6,739,933 3,561,415 Corporate Services 285,000 216,660 476,090 259,430 476,083 191,083 Saint John Energy Rebates 1,012,000 - - - - (1,012,000) Regional Serivices Commission 546,630 - - - 546,630 - Total Revenues 177,287,500 145,985,480 150,988,973 5,003,493 182,231,153 4,943,653 Expenditures Growth & Community Services Growth & Community Planning 5 1,791,586 1,443,877 1,238,403 205,474 1,709,297 82,289 Development Services 220,600 180,000 - 180,000 200,000 20,600 Development Engineering 350,328 268,620 266,653 1,967 355,123 (4,795) Community Development 608,695 501,827 279,935 221,892 461,445 147,250 Animal Control 109,250 91,040 82,560 8,480 109,250 - Dangerous and Vacant Building F 374,428 309,595 121,359 188,236 173,990 200,438 Minimum Property Standards 375,506 228,900 174,416 54,484 348,292 27,214 Heritage Conservation Service 203,654 126,498 132,183 (5,685) 206,563 (2,909) Cultural Affairs 129,827 104,065 92,118 11,947 114,505 15,322 Other By -Laws 356,103 289,036 183,228 105,808 216,374 139,729 Permitting & Inspection Services 1,181,614 963,036 1,125,638 (162,602) 1,131,704 49,910 Regional Economic Developmen 3,093,000 2,894,160 1,689,877 1,204,283 3,087,500 5,500 Market Square 2,250,000 1,875,000 2,481,607 (606,607) 2,500,000 (250,000) Saint John Trade & Convention C 390,186 342,363 (61,116) 403,479 390,186 Imperial Theatre 295,714 295,714 221,626 74,088 295,714 Saint John Aquatic Centre 521,281 521,281 489,331 31,950 521,281 Saint John Arts Centre 178,408 178,408 133,710 44,698 178,408 TD Station 478,246 478,246 384,757 93,489 478,246 Library 487,597 406,547 406,547 - 487,597 City Market 1,144,015 902,815 952,570 (49,755) 1,182,640 (38,625) Arts & Culture Board 70,000 35,000 18,502 16,498 70,000 Public Art Maintenance & Repair 16,000 8,000 19,315 (11,315) 19,315 (3,315) Remembrance Day 1,500 - - - 1,500 - New Year/Canada Day Celebratic 40,000 20,000 (2,523) 22,523 20,000 20,000 PRO Kids 109,693 89,656 98,702 (9,046) 93,817 15,876 Succeed & Stay 92,785 89,559 67,517 22,042 73,851 18,934 Local Immigration Partnership 86,424 65,010 69,154 (4,144) 97,444 (11,020) Carleton Community Center 190,700 190,700 187,500 3,200 187,500 3,200 Loch Lomond Community Center 45,000 45,000 45,000 - 45,000 - North End Community Center 174,876 174,876 187,500 (12,624) 187,500 (12,624) Recreation Programming 666,282 576,044 574,256 1,788 655,527 10,755 Neighbourhood Development 170,000 170,000 172,000 (2,000) 172,000 (2,000) YMCA - Contracted Services 157,560 157,560 136,932 20,628 136,932 20,628 3� The City of Saint John 2023 General Fund Operating Budget October 2023 2023 YTD YTD YTD YE YE Budget Budget Actual Variance Forecast Variance Growth & Community Services (continued) Boys and Girls Club - Contracted 145,887 145,887 139,951 5,936 139,951 5,936 Unspecified Grants 234,000 234,000 201,710 32,290 207,000 27,000 Affordable Housing Strategy 105,719 55,574 1,290,753 (1,235,179) 1,325,264 (1,219,545) Lifeguards 195,500 195,500 197,595 (2,095) 195,500 - Play SJ 45,000 45,000 14,042 30,958 14,042 30,958 Lord Beaverbrook Rink 167,392 141,562 141,552 10 167,392 - Building Incentive Reserve 350,000 175,000 88,875 86,125 350,000 Regional Services Commission 176,383 176,383 573,614 (397,231) 176,383 - Community Improvement Resen 800,000 - - - - 800,000 Total Growth & Community Deve 18,580,739 15,191,339 14,617,348 573,991 18,484,031 96,708 Public Safety Services Fire Rescue and Suppression Ser, 23,591,356 19,255,700 18,745,625 510,075 23,355,892 235,464 Fire Training 1,319 - - - 1,319 - Technical Rescue Response 46,925 38,198 35,784 2,414 45,511 1,414 Hazardous Materials 69,984 56,778 52,280 4,498 54,673 15,311 Fire Prevention 908,059 731,643 706,950 24,693 881,433 26,626 Fire Investigation 66,123 52,290 50,950 1,340 63,563 2,560 Emergency Management Service 360,216 288,983 169,774 119,209 237,860 122,356 Water Supply and Hydrants 2,500,000 2,083,330 2,083,330 - 2,500,000 - Public Safety Communications CE 2,894,857 2,260,468 2,127,843 132,625 3,106,755 (211,898) Street Lighting 1,060,000 883,330 784,255 99,075 1,060,000 - Saint John Board of Police Comm 28,134,830 22,388,928 20,875,529 1,513,399 27,004,459 1,130,371 Total Public Safety Services 59,633,669 48,039,648 45,632,321 2,407,327 58,311,465 1,322,204 Public Works & Transportation Services Snow Control Streets 5,601,737 4,593,555 3,435,568 1,157,987 4,662,549 939,188 Street Cleaning 1,605,543 1,320,459 1,711,472 (391,013) 2,024,875 (419,332) Utility Cuts 919,782 756,119 734,320 21,799 1,182,378 (262,596) Street Services - SurfaceMainter 7,448,639 6,153,875 5,833,032 320,843 6,916,441 532,198 Snow Control Sidewalk 1,034,591 854,028 818,810 35,218 1,120,319 (85,728) Sidewalk Maintenance 712,014 587,923 460,752 127,171 596,425 115,589 Pedestrian & Traffic Managemer 2,343,221 1,935,328 1,915,192 20,136 2,493,008 (149,787) Solid Waste Management 3,830,567 3,179,437 3,478,854 (299,417) 4,198,886 (368,319) Landscape - Parks & Open Space 2,095,731 1,729,355 1,927,102 (197,747) 2,411,125 (315,394) Rockwood Park 405,699 336,711 216,706 120,005 275,783 129,916 Urban Forestry 336,497 272,203 198,061 74,142 267,311 69,186 Saint John Horticultural Associati 50,000 41,660 50,000 (8,340) 50,000 - Arena Operation & Maintenance 1,375,297 1,131,477 1,053,913 77,564 1,408,359 (33,062) Sportsfield Operation & Mainten 1,228,942 1,009,949 1,090,908 (80,959) 1,248,007 (19,065) Other Facilities Operation & Mai 548,513 447,267 329,916 117,351 362,099 186,414 Transit Debt 1,746,105 472,923 472,923 - 1,746,105 - Transit Subsidy 5,630,640 4,692,200 4,697,834 (5,634) 6,235,640 (605,000) Fleet Operations 24,306 7,250 442,516 (435,266) (36,476) 60,782 Fleet Fuel - - 12,479 (12,479) - - Fleet Pooled Vehicles 18,945 6,055 2,771 (3,284) 7,667 11,278 3� The City of Saint John 2023 General Fund Operating Budget October 2023 2023 YTD YTD YTD YE YE Budget Budget Actual Variance Forecast Variance Public Works & Transportation Services (continued) Fleet Stockroom 300,871 247,087 226,133 20,954 288,754 12,117 Fleet Welding 10,326 - 20,011 84,179 (104,190) (16,521) 26,847 Stormwater Rural 1,844,465 1,510,522 1,191,015 319,507 1,860,750 (16,285) Parking Administration 942,723 783,013 634,876 148,137 951,318 (8,595) Peel Plaza Parking Garage 389,616 172,875 110,015 62,860 157,381 232,235 Market Square Parking Garage 115,881 91,369 135,657 (44,288) 172,324 (56,443) Off Street Parking 1,154,693 695,292 522,577 172,715 1,092,152 62,541 Municipal Ops Admin - - 355 (355) - - Total Public Works & Transportat 41,715,344 32,995,811 31,782,390 1,213,421 41,676,658 38,686 Utilities & Infrastructure Services Engineering 1,252,328 1,035,850 836,921 198,929 1,065,414 186,914 Carpenter Shop 371,482 304,056 327,437 (23,381) 358,440 13,042 Facilities Management 1,579,996 1,303,741 1,299,956 3,785 1,768,255 (188,259) City Hall Building 1,009,471 839,540 816,247 23,293 1,005,893 3,578 Police Headquarters 4,734 1,820 134,173 (132,353) - 4,734 GIS 413,258 273,754 244,206 29,548 374,614 38,644 Stockroom 246,122 201,070 202,671 (1,601) 244,972 1,150 Stormwater Urban 2,117,502 1,756,927 1,664,626 92,301 2,105,926 11,576 Total Utilities & Infrastructure Sei 6,994,893 5,716,758 5,526,236 190,522 6,923,514 71,379 Strategic Services Finance 1,250,757 1,029,005 714,072 314,933 909,063 341,694 Assessment 1,701,756 1,701,756 1,622,340 79,416 1,622,340 79,416 Supply Chain Management 449,075 366,849 336,394 30,455 410,808 38,267 Information Technology 3,511,071 2,925,388 2,336,377 589,011 3,324,569 186,502 Corporate Planning 316,055 257,688 178,237 79,451 225,679 90,376 Insurance 138,360 120,794 88,263 32,531 123,073 15,287 Liability Insurance 550,000 550,000 520,446 29,554 520,446 29,554 Total Strategic Services 7,917,074 6,951,480 5,796,129 1,155,351 7,135,978 781,096 Corporate Services City Manager's Office 779,271 646,394 724,289 (77,895) 911,461 (132,190) Mayor's Office 225,837 183,546 154,362 29,184 185,157 40,680 Common Council 602,503 510,367 514,442 (4,075) 637,262 (34,759) Common Clerk 642,779 486,162 519,549 (33,387) 634,424 8,355 Human Resources 1,942,089 1,609,320 1,985,461 (376,141) 2,436,498 (494,409) Legal Department 1,136,916 933,340 801,660 131,680 1,323,303 (186,387) Real Estate 177,086 149,562 141,999 7,563 173,156 3,930 Saint John Industrial Parks 170,763 143,673 110,812 32,861 137,933 32,830 Barge Terminal 25,000 16,660 2,303 14,357 5,000 20,000 Customer Service 999,115 848,427 657,604 190,823 776,210 222,905 Corporate Communications 516,634 420,935 319,638 101,297 402,886 113,748 External Relations 225,386 174,826 136,521 38,305 184,181 41,205 Total Corporate Services 7,443,379 6,123,212 6,068,640 54,572 7,807,471 (364,092) Other Charges Fiscal Charges 15,685,605 9,371,381 9,369,710 1,671 15,602,005 83,600 Landfill Closure 300,000 300,000 277,500 22,500 300,000 - Special Pension Contributions 9,460,000 7,553,304 7,328,484 224,820 9,460,000 Other Charges - Wages and Beni - - - - 687,000 (687,000) Transfer to Capital Reserves 3,771,797 3,143,160 4,380,491 (1,237,331) 5,181,835 (1,410,038) 3? The City of Saint John 2023 General Fund Operating Budget October 2023 2023 YTD YTD YTD YE YE Budget Budget Actual Variance Forecast Variance Other Charges (continued) Capital from Operating 5,650,000 4,708,330 4,708,333 (3) 5,650,000 Operating Reserves 135,000 112,500 527,064 (414,564) 527,064 (392,064) Total Other Charges 35,002,402 25,188,675 26,591,582 (1,402,907) 37,407,904 (2,405,502) Total Expenditures 177,287,500 140,206,923 136,014,645 4,192,278 177,747,022 (459,522) Surplus (Deficit) 5,778,557 14,974,327 9,195,770 4,484,132 4,484,132 3P Saint John Water V 2023 Water & Sewerage Operating Budget October 2023 2023 YTD YTD YTD YE YE Budget Budget Actual Variance Forecast Variance Revenues Flat Rate Accounts 22,250,000 17,335,050 22,238,352 4,903,302 22,229,748 (20,252) Meter Rate Accounts 15,300,000 10,200,001 10,684,506 484,505 15,984,929 684,929 Industrial Raw Water Accounts 6,983,657 4,655,771 3,289,675 (1,366,096) 7,479,100 495,443 Fire Protection Levy 2,500,000 2,083,330 2,083,330 - 2,500,000 - Storm Sewer Levy 925,000 770,830 790,055 19,225 925,000 - Other Revenues 943,508 736,240 1,598,414 862,174 2,068,249 1,124,741 Previous Year's Surplus 680,796 567,330 567,330 - 680,796 - Transfer from Reserve 421,492 - - - - (421,492) Total Revenues 50,004,453 36,348,552 41,251,662 4,903,110 51,867,822 1,863,369 Expenditures Drinking Water Service 22,883,672 15,284,196 16,956,915 (1,672,719) 23,814,668 (930,996) Wastewater Service 19,062,663 14,482,974 14,390,845 92,129 18,600,273 462,390 Infrastructure Management 709,667 588,334 572,482 15,852 725,426 (15,759) Industrial Water Service 7,348,451 4,560,654 4,238,875 321,779 7,350,206 (1,755) Total Expenditures 50,004,453 34,916,158 36,159,117 (1,242,959) 50,490,573 (486,120) Surplus (Deficit) - 1,432,394 5,092,545 3,660,151 1,377,248 1,377,248 1 39 Saint John Water Salaries and Goods & Services October 2023 2023 Budget $ YTD Budget $ YTD Actual $ YTD Variance $ YE Forecast $ YE Variance $ Drinking Water Service Wages and Benefits 3,665,934 3,032,883 3,156,229 (123,346) 3,814,802 (148,868) Goods & Services 19,217,738 12,251,313 13,800,686 (1,549,373) 19,999,866 (782,128) Total 22,883,672 15,284,196 16,956,915 (1,672,719) 23,814,668 (930,996) Wastewater Service Wages and Benefits 4,286,145 3,546,016 3,345,616 200,400 4,048,471 237,674 Goods & Services 14,776,518 10,936,958 11,045,229 (108,271) 14,551,803 224,715 Total 19,062,663 14,482,974 14,390,845 92,129 18,600,273 462,390 Infrastructure Management Wages and Benefits 495,720 410,018 412,605 (2,587) 513,715 (17,995) Goods & Services 213,947 178,316 159,877 18,439 211,711 2,236 Total 709,667 588,334 572,482 15,852 725,426 (15,759) Industrial Water Service Wages and Benefits 1,010,968 836,128 638,631 197,497 753,390 257,578 Goods & Services 6,337,483 3,724,526 3,600,245 124,281 6,596,816 (259,333) Total 7,348,451 4,560,654 4,238,875 321,779 7,350,206 (1,755) Total Expenditures 50,004,453 34,916,158 36,159,117 (1,242,959) 50,490,573 (486,120) 2 40 Saint John Water 2022 Water & Sewerage Operating Budget October 2023 2023 YTD YTD YTD YE YE Budget Budget Actual Variance Forecast Variance Revenues Flat Rate Accounts 22,250,000 17,335,050 22,238,352 4,903,302 22,229,748 (20,252) Meter Rate Accounts 15,300,000 10,200,001 10,684,506 484,505 15,984,929 684,929 Industrial Raw Water Accounts 6,983,657 4,655,771 3,289,675 (1,366,096) 7,479,100 495,443 Fire Protection Levy 2,500,000 2,083,330 2,083,330 - 2,500,000 - Storm Sewer Levy 925,000 770,830 790,055 19,225 925,000 - Other Revenues 943,508 736,240 1,598,414 862,174 2,068,249 1,124,741 Previous Year's Surplus 680,796 567,330 567,330 - 680,796 - Transfer from Reserves 421,492 - - - (421,492) Total Revenues 50,004,453 36,348,552 41,251,662 4,903,110 51,867,822 1,863,369 Expenditures Drinking Water Service Watershed Management 794,953 662,616 376,167 286,449 409,594 385,359 Water Treatment 8,768,620 7,311,696 6,518,221 793,475 8,616,111 152,509 Water Pumping & Storage 1,230,957 1,047,874 1,062,994 (15,120) 1,270,735 (39,778) Transmission & Distribution 4,396,550 3,659,236 3,630,585 28,651 4,469,959 (73,409) Customer Metering 720,634 598,044 571,986 26,058 731,841 (11,207) Internal Charges 510,050 372,950 766,564 (393,614) 510,050 - Other Charges 574,093 - 499,669 (499,669) 574,093 - Debt Servicing 3,752,315 1,631,780 1,631,779 - 3,745,815 6,500 Transfer to Operating Reserve - - 119,783 (119,783) 119,783 (119,783) Transfer to Capital Reserve - - - 1,231,186 (1,231,186) Capital from Operating 2,135,500 - 1,779,167 (1,779,167) 2,135,500 Total Drinking Water Service 22,883,672 15,284,196 16,956,915 (1,672,719) 23,814,668 (930,996) Wastewater Service Wasterwater Pumping 3,131,775 2,620,548 3,037,055 (416,507) 3,515,154 (383,379) Wastewater Collection 3,039,799 2,532,520 2,390,341 142,179 3,021,923 17,876 Wastewater Treatment 6,054,322 5,071,542 4,205,451 866,091 5,170,761 883,561 Internal Charges 510,050 372,950 372,917 33 567,969 (57,919) Other Charges 574,093 - 499,669 (499,669) 574,093 - Debt Servicing 3,020,324 1,608,497 1,608,495 2 3,018,074 2,250 Capital from Operating 2,732,300 2,276,917 2,276,917 - 2,732,300 - Total Wastewater Services 19,062,663 14,482,974 14,390,845 92,129 18,600,273 462,390 Infrastructure Management Engineering Services 709,667 588,334 572,482 15,852 725,426 (15,759) Total Infrastructure Management 709,667 588,334 572,482 15,852 725,426 (15,759) Industrial Water Service Watershed Management 668,245 535,196 298,942 236,254 507,521 160,724 Water Pumping & Transmission 2,157,067 1,795,423 1,599,988 195,435 2,148,892 8,175 Customer Metering 176,652 146,795 44,392 102,403 135,002 41,650 Debt Servicing 1,846,586 - - - 1,846,586 - Transfer to Capital Reserves 836,677 697,230 840,554 (143,324) 980,000 (143,323) Transfer to Operating Reserve 895,516 746,260 815,244 (68,984) 964,497 (68,981) Capital from Operating 767,708 639,750 639,757 (7) 767,708 Total Industrial Water Service 7,348,451 4,560,654 4,238,875 321,779 7,350,206 (1,755) Total Expenditures 50,004,453 34,916,158 36,159,117 (1,242,961) 50,490,573 (486,120) Surplus (Deficit) 1,432,394 5,092,545 3,660,151 1,377,248 1,377,248 3 41 _fir 17 -,Frj 1 FINANCE COMMITTEE REPORT Report Date November 27, 2023 Meeting Date November 29, 2023 Chairman Sullivan and Members of Finance Committee SUBJECT. 2023 Operating and Capital Reserves OPEN OR CLOSED SESSION This matter is to be discussed in open session of Finance Committee. AUTHORIZATION Primary Author Commissioner/Dept. Head Chief Administration Officer Craig Lavigne Kevin Fudge J. Brent McGovern RECOMMENDATION It is recommended that members of the Finance Committee approve the transfers to and from the following reserves and forward a copy of the report to Common Council for approval. General Operating Reserves • $422,289 from the General Operating Fund to the General Operating Reserve • $161,700 from the General Operating Reserve to the General Operating Fund General Capital Reserves • $10,495,154 from the General Operating Fund to General Capital Reserve • $5,495,152 from the General Capital Reserve to the General Capital Fund Utility Operating Reserves • $895,516 from the Utility Operating Fund to the Utility Operating Reserve (Industrial Rate Stabilization) • $1,000,000 from the Utility Operating Reserve to the Utility Capital Reserve Utility Capital Reserves • $3,326,113 from the Utility Operating Fund to the Utility Fund Capital Reserve • $303,018 from the Utility Capital Reserve (Fleet) to the Utility Capital Fund :1 -2- • $1,000,000 from the Utility Operating Reserve to Utility Capital Reserve EXECUTIVE SUMMARY The Reserve Policy was approved by Common Council on December 11, 2017. The purpose of the Reserve Policy is to address longer term funding strategies to minimize debt servicing costs, address the infrastructure deficit, and mitigate the effects of unanticipated events. Permitted uses of reserves according to the Reserve Policy are: 1. Major unanticipated/unforeseen events. 2. Major Capital renewal. 3. Future Liabilities. 4. One-time operating expenses which are greater than $100,000 and are not part of the recurring operating budget. 5. Infrastructure deficit; and 6. Investment in growth opportunities. In addition to the Reserve Policy, the City must comply with the Provincial Reserve Fund Regulation which prescribes that the establishment, funding, and withdrawal of Reserve funds which can only be done through resolutions of Common Council before the end of each calendar year. To comply with the Provincial Legislation, Staff recommend that Common Council approve the recommendation in this report for contribution to and withdrawal from the Reserves. Many of the recommendations have been approved by Council (Exhibit A) and the purpose is to finalize the actuals transfers to and from the various reserves. PREVIOUS RESOLUTIONS See Exhibit A STRATEGIC ALIGNMENT This report aligns with Council's approved Reserve Policy. REPORT BACKGROUND The City must comply with the Provincial Reserve Fund Regulation which prescribes that the establishment, funding, and withdrawals of Reserve funds can only be done through resolutions of Common Council before the end of each calendar year. !i93 -3- General Fund The General Operating Reserve balance for the end of 2023 will be $8,044,704. The maximum amount that can be held in this reserve is regulated by Provincial regulations. Municipalities can have a balance of no more than 5% of previous years' operating budget which would be $8,086,093 for Saint John. General Operating Reserve has funding to mitigate the risks and support various initiatives such as; ➢ Winter storm mitigation ➢ Benefit fluctuations due to actuarial reviews ➢ Various growth -related initiatives Transfers to the operating reserve includes funding of $422,289 from Growth and Community Development Services operating budget for development incentives and urban development incentives to fund commitments already made. There will also be $392,064 transferred into the operating reserve for interest earned on funds held in the reserve which is a Provincial requirement. The transfers out of the growth reserves for 2023 is $161,700. The transfers out include funding for the SJ Local Immigration Program ($13,500), Rapid Housing Initiative ($65,000), Succeed and Stay ($65,700) and the agreement with SJ Sea Dogs ($17,500). These transfers were also approved previously by Common Council. General Capital Reserves which will have a balance of $25,077,426 at the end of 2023. There are no Provincial limits on Capital Reserve balances. The General Capital Reserve has funding for the following. ➢ Fleet Reserves ➢ Information Technology ➢ Capital Replacement ➢ Recreation Facility ➢ Strategic Real Estate Reserve The 2023 Operating Budget included a transfer of $3,771,797 to the Capital Reserve with $3,000,000 to be allocated to toward a new multipurpose recreation facility. The 2023 Operating budget also included $135,000 to be transfer to the Operating Reserve, however staff are recommending this amount be transferred to the Capital Reserve, to ensure Operating Reserves limits are met. The following transfers to the General Fund Capital Reserve are being recommended to align with use of one time funds, timing delays in projects and unexpected expenses to occur in 2024: ➢ Net proceeds from Barbour's General Store - $172,711 -4- ➢ Engineering work Courtney Bay Causeway - $450,000 ➢ Industrial Parks Land Sales - $226,083 ➢ North End Neighborhood Plan - $200,000 ➢ 2023 Surplus from one time Interest and Building Permit Revenue - $2,275,00 o $500,000 — City Market Strategic Plan o $500,000 — Enterprise Resource Planning Project o $500,000—Additional Recreation Asset Investment o $500,000 - Future Roundabout o $100,000 — Guiderails Replacement o $175,000 — Replacement of transit bus due unexpected write off The transfer from the Capital Reserve includes $959,913 for the relocation of Fleet services to the Transit building and $605,964 for the Fundy Quay project which were previously approved by Common Council. The transfers to and from the Fleet and IT reserves are part of both Operating budget and Capital budgets. There is also an additional $1,011,244 in interest that is transferred across the Capital Reserves and the amount is higher than past interest due to the current high interest rates. Utility Fund Utility Operating Reserve has a maximum limit of $2,403,374 and will have a balance of $2,362,672 for 2022. The operating reserves includes funds for ➢ Managing risk of unforeseen impacts to potable revenue or expenditures ➢ Industrial Rate Stabilization The Industrial Rate Study that was implemented in 2020 calls for an estimated six months of revenue to be put into a reserve to mitigate risk on rates for Industrial customers. The transfer of $895,516 into the reserve was part of the 2023 Industrial Raw Water Operating Budget. Staff are also recommending $1,000,000 be transferred from the Potable Operating Reserve to the Potable Capital Reserve to ensure the reserve is within maximum limits. The funds can be transferred back to operating reserves if there is a need in the future. The Utility Capital Reserve will have a balance of $13,232,664 for 2023 and balance includes reserves for. ➢ Fleet Replacement ➢ Industrial Capital ➢ Potable Capital The Operating budget included the transfers into the fleet, industrial reserves. :111 -5- Staff are also recommending the following additional transfers to the Potable Capital Reserves Lancaster Lagoon - $750,000 was budgeted as part of the 2023 Operating budget but projected was delayed and will get underway in 2024 and is included in the 2024 operating budget. Watershed management - $102,780 lands sales in and around City watersheds are unbudgeted and recommended directing funds to a reserve for future watershed protection projects. 2023 Potable Operating Surplus —Staff are recommended to transfer an additional $750,000 to the Potable Capital Reserve to continue to build much needed reserves. fnnrhicinn The City has continued to follow its various financial policies and has been able to build its reserves that were essentially nonexistent a short few years ago. The Operating Budget Policy ensures that non -recurring revenues do not fund ongoing services. SERVICEAND FINANCIAL OUTCOMES This report aligns with Common Council's previous resolutions, long term financial plan, reserve polices, and approved 2023 budget. INPUT FROM OTHER SERVICE AREAS AND STAKEHOLDERS Input has been received from other services areas ATTACHMENTS Exhibit A — 2023 Reserve Schedule O Zt I- r- M O O) t 00 m I- O n ^ O) rl O (.D L() M ^ (3) I- O O) M N M N 00 00 M I- M r-I 'N' L() O (.D L() N N M to 4) lD I- (3 00 O) (4 I-� Lf) O lD N M LA v IZI- 01 00 r-I lD N O) lD M Lf) 00 lD m LP) IZI- m r- M r-I N O M lD rl LA LLI lD rl I� N M L LI N M M lD Ll1 � rl M iE r-I m m N O 00 M N N N O 00 00 O r-l::T M Ln O r-I r- 00 r- Lf) Co m ^ O , p , , , O 3 ri Lri Ol Ol l0 3 O fM � OM L() t IZI- w O M s 0 ri M LA s o rl r-I O) L() IZI- Ol N 0o M rl I� rl M O) lzt rl Lf) lD N O 00 00 lzl- lD N N (N r- M lD O Lf) M N O) N O) M M r-I +' Ol N Ol qt M 4-0 L() 00 M I- M Ol 00 RTN-I oo M � rl r�l ��-I Ln 0 00 O) � Zt R* 0 � Ln I- 00 (N 4-0 , N L() lzt rl 4,-r 4--0 , Lf) lD , lD I- lD i_ N O G Lf) I� i Lf) lD lD N r♦ `- 'N' lzl- N I- L() G1 44- N 00 00 00 lO N N LA H H 0 N O O N 01 N 0 lD I- N 00 I- rl N V ::t rl IZI- N rl M V rl I- N M M rl O rl (3) O) O N N M Ln I- lD (-4 rl W M i N O) 00 N O M 00 N rl 00 � O N M O 00 00 — N rl 00 O rl m v O M M M I- M O lD rl 00 00 N W rl rl N N M r-I 0 0 N 0 r-I Q Q L 0 0 N L L N N M N 4- °J � o N }, > cu N � > E M � i Q i i N f6 Q= -I--� > N Q= •(Q Q ate-+ Q 3 0= N N i 0= p= i ) Q LL l]A Q N N L on — N cn a--+ U � (B U Q — LL � 'L N L 'L N i ca L }, 3 cu a -+ 4— Q A ++ (B L v) 4— J L V �7 0 0 u L L u > O-S L� a ti N � M 'N' lD lD M to O O rq M N Ln W 00 Lr M W N M LP1 N M rl r-I m m O) r--I 00 fa .-. O O E � W O OM M s O u) Ln s O ri e-I (.0 O lD lD N O N M v N 00 r-I +' N rl M Zt M 00 M O qqr -I IZI- Ln to r-I r-I 0 O 0 � G N 000 N r-I Cr � r-I l0 3 (A i LP) Cn I, V) i (.0r-I N N i% N r-I (% ( O O v � Ln H H •� ri O N M 01 N V Lf) 00 M V Cn O O > O rl N 00 I- W 0 N lD 00 N Lr 00 m `� IZT � 00 a Co l m o n M r- o L y Cn l0 m v N 00 e-I O O N L N N N s o > > +- vv vv > > N LL OD N OD N LL o a'- 4-+- CU s a� � � �4- Q v Q W V �7 0 u D 0 u