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POLICY
Policy:
Reserves and Reserve Funds
Department:
Corporate Services
Division:
Financial Services
By-Law No.:
N/A
Administered By: Treasurer
Approval Date: Dec. 15, 2025
Replaces:
Reserve and Restricted Funds - February 1, 2016
Tax Stabilization Reserve - February 1, 2016
Attachment(s):
Appendix A - reserve and Reserve Fund Schedule
_______________________________________________________________________________________________________________________________________
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1. POLICY STATEMENT
The Corporation of the Town of Amherstburg is committed to the management and administration
of Reserves and Reserve Funds.
2. PURPOSE
2.1. This policy establishes consistent principles, standards and guidelines for the maintenance,
management and accounting of Reserves and Reserve Funds.
2.2. This policy outlines how the Town's Reserves and Reserve Funds are created, amended,
closed, and reviewed.
3. SCOPE
3.1. This policy applies to all Reserves and Reserve Funds administered by Town of
Amherstburg.
3.2. This policy applies to all Town Employees who are responsible for the establishment,
monitoring, administration, and management of the Town's Reserves and Reserve Funds.
3.3. This policy shall be reviewed every five (5) years from the date it becomes effective, and/or
sooner at the discretion of the CAO or designate.
4. DEFINITIONS
4.1. Reserves refers to monies set aside through allocation by Council (i.e. annual budget
process) for operational purposes and which are not restricted by legislation.
4.2. Reserve Funds refers to funds that have been set aside for a specific purpose (i.e. Capital
and project based) as required by provincial statutes, Town by-laws, or agreements.
Reserve Funds can be either discretionary (set by Council) or obligatory (set by statute or
agreement).
4.3. Discretionary Reserves/Reserve Funds are created by Council to set aside revenue to
finance a future expenditure for which Council has the authority to spend money.
Discretionary Reserve Funds are often established by by-law or Council resolution.
Discretionary Reserves are often established by allocation in base budget and of surplus
monies at year end. Discretionary Reserves and Reserve Funds are shown as part of
accumulated surplus on the Town's annual audited Financial Statements. Examples include
but are not limited to:
Replaces: Reserve and Restricted Funds February 1, 2016
and Tax Stabilization Reserve February 1, 2016
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4.3.1.
Capital Reserve Funds
4.3.2.
Tax Stabilization Reserve Funds
4.4. Obligatory Reserve Funds are created when a provincial statute or agreement requires
that revenue received for specific purposes is segregated from the general revenues of the
Town. Obligatory Reserve Funds are to be used solely for the purpose prescribed for them
by statute or agreement and are shown as deferred revenue on the Town's annual audited
Financial Statements and Financial Information Return. Examples include but are not limited
to:
4.4.1.
All Development Charges Reserve Funds regulated by the Development Charges
Act, 1997
4.4.2.
Canada Community-Building Fund (previously Gas Tax) regulated by a Municipal
Funding Agreement with The Association of Municipalities Ontario
Common definitions, acronyms, and terms are available in the Glossary located on the Town's
Policies webpage.
5. INTERPRETATIONS
Any reference in this policy to any statute or any section of a statute shall, unless expressly
stated, be deemed to be reference to the statute as amended, restated or re-enacted from time to
time. Any references to a by-law or Town policy shall be deemed to be a reference to the most
recent passed policy or by-law and any replacements thereto.
6. GENERAL CONDITIONS
6.1. Reserves and Reserve Funds are established for a variety of purposes including:
6.1.1.
Adherence to statutory requirements
6.1.2.
Promotion of financial stability and flexibility
6.1.3.
Provision of major capital expenditures
6.1.4.
Provision of life cycle replacement of capital assets
6.1.5.
Reducing tax rate impacts and rate supported debt
6.1.6.
Absorb the cost of one-time expenses not included in the operating budget
6.1.7.
Smooth expenditures which would otherwise cause fluctuations in the operating
budget
6.1.8.
Funding known future obligations.
6.2. Establishment and Modification
6.2.1.
Reserve Funds can be established through the following processes:
_______________________________________________________________________________________________________________________________________
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6.2.1.1. Inclusion in the annual operating or capital budget which is approved by
Council; or,
6.2.1.2. Through resolution of Council.
6.2.2.
In order to establish a new Reserve Fund, a financial plan will be prepared which
outlines the following where applicable and practicable:
6.2.2.1. Need or justification
6.2.2.2. Target funding level (if applicable)
6.2.2.3. Funding source(s)
6.2.2.4. Projected disbursements for planned future obligations
6.2.3.
Reserves may be established where a situation arises that requires funds be set
aside on an interim basis to address a future need. The funds can be segregated
in a Reserve until such time that the eligible expenditures are approved and
included in the Town's budget.
6.2.4.
Prior to establishing a new Reserve or Reserve Fund, it is recommended that a
review of existing Reserve or Reserve Funds be completed to determine if the
needs identified can be accommodated by an existing Reserve or Reserve Fund.
6.2.5.
Changing of Reserve and Reserve Fund names can be made with the approval of
the Treasurer while ensuring the purpose and intended use of the Reserve or
Reserve Fund is not changed.
6.3. Investment
6.3.1.
Reserves and Reserve Funds may be invested for a term not exceeding its
expected date of need.
6.3.2.
Investments shall be governed by the Town's Investment Policy, applicable
legislation, and funding agreements as they relate to the Reserve and/or Reserve
Fund.
6.3.3.
Investment and/or interest earned on Reserves and Reserve Funds shall be
recognized in accordance PSAB 3150 Standards and the Investment policy.
6.3.4.
If the balances of the reserve and Reserve Funds are at the maximum target, the
interest may be allocated as per the recommendations of the Treasurer.
6.4. Contributions and Withdrawals
6.4.1.
All contributions to and withdrawals from Reserves and Reserve Funds shall be
established as part of the annual budget or specifically by Council resolution with
the following exceptions:
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6.4.1.1. Direct contribution of anticipated revenues to Reserves and Reserve
Funds, such as Development Charges, or settlement in account of prior
year events;
6.4.1.2. Transfers of funds between Reserves and Reserve Funds which, in the
opinion of the Treasurer, have not changed the purpose for which the
funds were intended; or,
6.4.1.3. Transfer of funds between asset replacement reserves based upon
reserve adequacy analyses or other related information, at the discretion
of the Treasurer.
6.4.1.4. Transfers to and from Reserves and Reserve Funds within the
Treasurers authority, as outlined in Appendix A; and,
6.4.1.5. Transfers designated as investment, and in compliance with the
Investment policy.
6.5. Lending/Temporary Borrowing
6.5.1.
Temporary borrowing to cover a short-term deficit, interim servicing requirements,
or internal financing is permitted under the following conditions:
6.5.1.1. Use must be justified, adequately supported, and authorized by the
Treasurer;
6.5.1.2. Lending must not adversely affect the intended purpose of the Reserve
or Reserve Fund; and
6.5.1.3. Must be done in compliance with any legal and legislative requirements.
6.5.2.
External loans shall be governed by the Town's Loans and Borrowing policy.
6.5.3.
A documented plan to repay the Reserve or Reserve Fund within a reasonable
timeframe is required.
6.5.4.
All lending/temporary borrowing shall be provided from eligible Reserve and
Reserve Fund balances.
6.6. Closing
6.6.1.
A Reserve and/or Reserve Fund shall be closed when the program or project it
supports meets any of the following criteria:
6.6.1.1. No longer in the scope of the Town's strategic plans;
6.6.1.2. Program commitments have been completed and no future commitments
are expected;
6.6.1.3. The Treasurer is confident that balances in other areas can mitigate the
need to hold any remaining Reserve or Reserve Fund balance; or
_______________________________________________________________________________________________________________________________________
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6.6.1.4. Changes in legislation require the closing of a Reserve or Reserve Fund.
6.6.2.
A Council resolution is required to close a Reserve or Reserve fund, unless it is
legislatively required. The Treasurer shall report to Council with the
recommendation on:
6.6.2.1. The closure of the Reserve or Reserve Fund;
6.6.2.2. The disposition of any remaining funds; and,
6.6.2.3. The necessary amendment to the Reserve and Reserve Fund by-law.
6.7. Reporting
6.7.1.
The status of the Town's Reserves and Reserve Funds will be communicated to
Council through the following reports:
6.7.1.1. The Town's annual audited Financial Statements and provincially
mandated Financial Information Return;
6.7.1.2. The Town's annual budget;
6.7.1.3. Provincial reporting requirements, including, but not limited to, an annual
Development Charge Reserve Fund Statement, and an annual Parkland
Dedication Reserve Fund Statement; and,
6.7.1.4. Any other reports as required by this policy.
7. RESPONSIBILITIES
7.1. Council has the authority and responsibility to:
7.1.1.
Adopt the Reserves and Reserve Funds policy.
7.1.2.
Approve the establishment, closure, consolidation, and transfer of funds to and
from Reserves and Reserve Funds through the annual budget process or by
specific resolution and by-laws.
7.2. The CAO has the authority and responsibility to:
7.2.1.
Support the Treasurer in ensuring the principles and mandatory requirements
contained in this policy are applied consistently across all Town departments.
7.3. The Treasurer has the authority and responsibility to:
7.3.1.
Determine the need for Reserves and Reserve Funds for the Town's operating
and capital budgets.
7.3.2.
Determine and monitor target balances for Reserves and Reserve Funds.
7.3.3.
Recommend establishing, closing, and consolidating of Reserves and Reserve
Funds.
7.3.4.
Review and report to Council on the adequacy of Reserves and Reserve Funds.
7.3.5.
Recommend transfers of funds to and from Reserves and Reserve Funds.
_______________________________________________________________________________________________________________________________________
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7.3.6.
Manage the Reserves and Reserve funds in accordance with legislative
requirements and applicable Town policies.
7.4. Directors have the authority and responsibility to:
7.4.1.
Undertake asset management principles to ensure the most current capital asset
information is being used to forecast renewal and lifecycle costs.
7.4.2.
Collaborate with the Treasurer to assess the adequacy of Reserves and Reserve
Funds
7.4.3.
Inform the Treasurer when Reserve and Reserve Fund transfers are required.
8. LEGISLATIVE REFERENCES
8.1. Development Charges Act, 1997
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APPENDIX A - RESERVE AND RESERVE FUND SCHEDULE
Name
Purpose
Target
Balance
Funding Source
Designated Use
Authority/Timing
Tax Supported Reserves
AODA Compliance
To assist with meeting
Accessibility for
Ontarians with
Disabilities Act (AODA)
requirements.
No established
maximum or
minimum.
Clerks Operating
budget.
To fund improvements to
Town infrastructure in
alignment with AODA
requirements.
Council approved
through Capital
budget, Operating
budget, or other in-
year Council reports.
Consultation may be
sought with the
Accessibility
Advisory Committee.
Contingency
To provide cash flow,
working capital, sufficient
liquidity, offset one-time,
unforeseen expenditures
or revenue shortfalls.
Minimum of
three (3)
months
Operating
expenses.
Maximum of
six (6) months
Operating
expenses.
Operating budget and
approved year end
surplus allocations.
To offset budget deficits
arising from one-time,
unexpected expenditures
or revenue shortfalls.
Council approved
through annual
Operating budget or
other in-year Council
reports.
Community
Improvement Plan
(CIP)
To fund Council
approved grants in
accordance with the
Community Improvement
Plan.
No established
maximum or
minimum.
Council approved
year end surplus
allocation or as
approved in Operating
budget.
To offset financial
incentives associated with
the approved Community
Improvement Plan, in
accordance with the
Planning Act, 1990.
Funds released
upon receipt of a
valid CIP
application.
Elections
To amortize the cost of a
municipal election over
four years, rather than
funding the entire
amount in the year of the
election.
Prior election
cost total plus
accumulated
annual inflation
to be achieved
by next
election year
and
Clerks Operating
budget.
Funds transferred out
every four years to fund
the cost of running a
municipal election.
To fund the cost of running
a by-election.
Council approved
through Capital
budget, Operating
budget, or in-year
election reports.
Prior election cost total
plus accumulated
annual inflation
to be achieved
by next election
year and accounting
for additional
costs of alternative
voting methods
/ technology
requirements.
____________________________________________________________________________________________________________________________________________________________________________________
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Name
Purpose
Target
Balance
Funding Source
Designated Use
Authority/Timing
accounting for
additional
costs of
alterative
voting
methods/techn
ology
requirement.
Employee Related
To manage Operating
budget variances relating
to employee benefits and
compensation costs, as
per contractual
obligations.
To fund the provision of
Short-Term Disability
benefits.
No established
maximum or
minimum.
Minimum for
Short-Term
Disability
benefits shall
be determined
by third party
consultation.
Human Resources
Operating budget.
To offset budget deficits
arising from compensation
related costs including
Short Term Disability
Severance, Employee
Assistance Program
(EAP), Arbitration related
costs, Regulatory audit
decisions, Joint Job
Evaluation Committee,
Pay Equity or any other
unforeseen one-time
compensation related
expenditures.
Council approved
transfers at budget
are estimates.
Actual transfers will
reflect real
experience and
authorized by the
CAO and Treasurer.
Insurance
Manage operating
budget variances relating
to insurance claims,
insurance deductible
costs, and other costs
not recoverable through
insurance.
To complete associated
actuarial studies and
other risk retention
activities.
Minimum of
$200,000. This
is represented
by a
calculation of
25% of the 5-
year rolling
average of
Insurance
Deductibles
and Adjustor
Fees and
estimated
funds required
to complete an
actuarial study.
Clerks Operating
budget and particular
Clerk's revenue.
To fund under-deducted
insurance claim costs and
significant premium
fluctuations on renewals.
Deductible payable in year
based on claims
management.
CAO, Treasurer, and
Clerk/Risk Manager
approved transfers
in-year in
accordance with the
pre-approved
purpose.
____________________________________________________________________________________________________________________________________________________________________________________
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Name
Purpose
Target
Balance
Funding Source
Designated Use
Authority/Timing
Litigation
To address settlement of
litigation and pending
litigation.
Minimum of
$250,000.
Clerks Operating
budget.
To fund pending litigation
settlement.
CAO and Clerk/Risk
Manager
approved transfers
in-year in
accordance with the
Delegation of
Authority policy.
Transfers exceeding
$50,000 require
Council approval
though In-Camera
reports.
Planning Study
To fund the cost of
Planning Division and
Planning Act-related
studies.
Based on
projected
future costs of
planning study
requirements.
Planning Operating
Budget
To fund the cost of
conducting update studies
including, but not limited
to, secondary studies,
zoning studies, official
plan studies, special
planning studies, and any
others under the Planning
Act, 1997.
Council approved
through Operating
budget, Capital
budget or other in-
year Council reports.
Plans and Studies
To fund the cost of
conducting plans and
studies.
Based on
projected
future costs of
municipal
study
requirements.
Operating Budget
To fund the cost of
conducting plans and
studies, with the exception
of those listed under the
Planning Study Reserve.
Council approved
through Operating
budget, Capital
budget or other in-
year Council reports.
Post Retirement
Benefits
To fund post retirement
benefits to eligible
recipients.
No established
maximum or
minimum.
Employee payroll and
Operating budget.
Replacement of retiree
benefit program and
refund of contributions to
ineligible contributors.
Council approved
transfers at budget
are estimates.
Actual transfers will
reflect real
experience and
authorized by the
CAO and Treasurer.
Tax Stabilization
Provide for unexpected
property assessment
changes and related tax
Minimum
balance of 5%
of the Town's
Tax-supported
Operating budget
surplus and
Fund shortfall in property
tax revenues, such as in-
Council approved
through Operating
Provide for unexpected property assessment
changes and related tax
adjustments during the year. Contingency
fund for operational emergencies,
urgent or contingency
capital expenditures, and
Minimum balance of 5%
of the Towns gross
tax revenue. Maximum
of 15% of the
Town's gross tax
revenue.
Tax-supported Operating budget
surplus and investment
incomes earned on
the Tax Stabilization Reserve.
Fund shortfall in property tax revenues,
such as in-year assessment
changes and appeal impacts.
Investment income from the
reserve would be used to fund one-time
operating budget expenditures.
Council approved through Operating
budget or other in-year
Council reports.
____________________________________________________________________________________________________________________________________________________________________________________
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Name
Purpose
Target
Balance
Funding Source
Designated Use
Authority/Timing
adjustments during the
year.
Contingency fund for
operational emergencies,
urgent or contingency
capital expenditures, and
to compensate for
unplanned revenue
reductions with
significant financial
impacts.
gross tax
revenue.
Maximum of
15% of the
Town's gross
tax revenue.
investment incomes
earned on the Tax
Stabilization Reserve.
year assessment changes
and appeal impacts.
Investment income from
the reserve would be used
to fund one-time operating
budget expenditures.
budget, or other in-
year Council reports.
Winter Control
Provide for unexpected
operating costs related to
extreme winter weather
conditions.
50% of 5-year
average winter
control costs.
Public Works
Operating budget.
To fund winter control
operations in unusually
heavy snowfall and ice
years.
Council approved
through Capital
Budget, Operating
Budget, or other in-
year Council reports.
Non-Tax Supported Reserves
Developer Deposits
To ensure the conditions
of approved planning
applications have been
satisfied within the
required timeline.
No established
maximum or
minimum.
Deposit paid by
Developers in
conjunction with
planning application.
Fees are in
accordance with the
User Fee By-law
2025-055, and may
vary based on the
application type.
Funds held in trust until all
conditions of the
application have been
met.
Treasurer approved
in-year transfers to
authorize release of
funds back to
Developers upon the
agreement being
satisfied, in
consultation with the
Planning Division.
Economic
Development
To support economic
development initiatives.
No established
maximum or
minimum.
Digital Gateway Sign
revenue and user fees
in accordance with the
User Fee By-law
2025-055.
Funds transferred out to
support economic
development initiatives as
directed by Council.
Council approved
through annual
Operating Budget or
other in-year Council
reports.
Tree Planting
Development fees
collected to fund tree
planting in the municipal
right of way in new
No established
maximum or
minimum.
Deposit paid by
Developers in
conjunction with
planning application.
Fees are in
To fund tree planting in the
municipal right of way in
new subdivisions and
developments, other tree
Director of
Infrastructure /
Director of Parks,
Recreation, and
Facilities approved
Provide for unexpected operating costs
related to extreme winter weather
conditions.
50% of 5-year average
winter control
costs.
Public Works Operating budget.To fund winter control operations in
unusually heavy snowfall and ice
years.
Council approved through Capital
Budget, Operating Budget,
or other in- year Council
reports.
Development fees collected to fund
tree planting in the municipal
right of way in new subdivisions/developments.
Deposit paid by Developers in
conjunction with planning application.
Fees are in accordance
with the User Fee
By-law 2025-055 and may
vary based on the application
type.
To fund tree planting in the municipal
right of way in new subdivisions
and developments, other
tree plating initiatives and tree
canopy studies.
Director of Infrastructure / Director
of Parks, Recreation,
and Facilities approved
transfers in-year in
accordance with the Development
Manual and Development
Agreements. For
expenditures exceeding $50,000
seek Council approval.
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Name
Purpose
Target
Balance
Funding Source
Designated Use
Authority/Timing
subdivisions/developmen
ts
accordance with the
User Fee By-law
2025-055, and may
vary based on the
application type.
planting initiatives, and
tree canopy studies.
transfers in-year in
accordance with the
Development
Manual and
Development
Agreements.
For expenditures
exceeding $50,000
seek Council
approval.
Tax-Supported Reserve Funds
Amherstburg Library
To assist in financing the
cost of construction or
acquisition of a Library
property.
No established
maximum or
minimum.
As directed by
Council.
To assist in financing the
cost of construction or
acquisition of a Library
property.
As recommended by
the Library Board
and approved by
Council through the
Capital budget.
Co-An Park Capital
To provide funds for the
replacement and
rehabilitation of the
infrastructure in Co-An
Parks, in alignment with
the Co-An Park
agreement and Parks
Master Plan.
Based on the
approved AMP
Funding Level
Parks Operating
budget.
To fund initiatives that
support Co-An Park
infrastructure and life cycle
replacement, in alignment
with the Parks Master
Plan.
As approved by
Council through the
Operating budget,
Capital budget, or
other in-year Council
reports and in
consultation with the
Co-An Park
Committee.
Fire
To fund Fire Department
expenditures.
Based on the
approved AMP
Funding Level.
Fire Operating
budget.
To fund the replacement,
rehabilitation, and
acquisition of Fire
Department needs
including, but not limited
to, PPE and equipment.
Council approved
through Capital
budget, Operating
budget, or other in-
year Council reports.
Fleet
To provide for acquisition
of fleet replacement.
Based on the
approved AMP
Funding Level.
Applicable Operating
budgets.
To fund the replacement,
rehabilitation, and
acquisition of Town
vehicles.
Council approved
through Capital
budget, Operating
budget, or other in-
year Council reports.
Purpose
Funding Source
Designated Use
Authority/Timing
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Name
Purpose
Target
Balance
Funding Source
Designated Use
Authority/Timing
General
To provide funds for the
replacement and
rehabilitation of the
Town's infrastructure,
related to the Town's
Asset Management Plan
(AMP).
Based on the
approved AMP
Funding Level.
Operating and Capital
budgets.
To replace or renew
existing Town
infrastructure, as outlined
in the Town's AMP.
Excludes Water and
Wastewater infrastructure.
Council approved
through Capital
Budget, Operating
Budget, or other in-
year Council reports.
Information
Technology
Provide for cyclical and
one-time acquisitions of
software to maintain or
enhance municipal
operations and customer
service.
Based on the
approved AMP
Funding Level.
IT Operating budget.
To fund replacement,
upgrades, and acquisition
of software and hardware.
Council approved
through Capital
budget, Operating
budget, or other in-
year Council reports.
Libro
To provide funding for
the replacement,
rehabilitation, and
acquisition of Libro
infrastructure.
Based on the
approved AMP
Funding Level.
Libro Operating
budget and User Fees
in accordance with the
User Fee By-law
2025-055.
To fund the replacement
or renewal of existing
Libro infrastructure and
the acquisition of new
Libro assets.
Council approved
through Capital
budget, Operating
budget, or other in-
year Council reports.
Municipal Drain
To assist with the Town's
portion of drainage costs
as a landowner on a
municipal drain.
No established
maximum as
based on
projected
drainage
projects
apportioned to
the Town.
Drainage Operating
budget.
To fund municipal
drainage works when the
Town is assessed as a
landowner.
Treasurer
approved transfers
in-year in
accordance with the
Drainage Act, 1990.
New Capital
To fund additions to
current level of service or
new infrastructure.
Based on
strategic
initiatives as
determined by
Council.
Operating budget
To fund the cost of
construction or acquisition
of new Capital assets.
Council approved
through Capital
budget or other in-
year Council reports.
Parks
To fund the cost of new
or replacement of
existing Park assets.
Based on the
approved AMP
Funding Level.
Parks Operating
Budget.
To fund the cost of new or
replacement of existing
Park assets.
Council approved
through Capital
budget or other in-
year Council reports.
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Name
Purpose
Target
Balance
Funding Source
Designated Use
Authority/Timing
Police
Provide for unexpected
or one-time costs related
to the provision of Police
Services
To assist in financing the
cost of acquisition of
Police assets.
Based on
Council
directive of
police service
needs.
Based on life
cycle
replacement
for police
assets.
Police Services
Operating Budget
To fund one-time or
unexpected Police Service
operating expenditures.
To fund life cycle
replacement of Police
assets.
Council approved
through annual
Operating budget or
other in-year Council
reports.
Non-Tax Supported Reserve Funds
Building Capital
To fund capital
expenditures with the
Building Division.
No established
maximum or
minimum.
Building operating
budget surplus.
To fund capital purchases
for Building Code Act,
1992 enforcement
activities.
Treasurer approved
in-year transfers as
authorized by the
Building Code Act,
1992.
Brick Fund
To fund the replacement
and rehabilitation of
commemorative bricks.
No established
maximum or
minimum.
Funds transferred in
from private
donations.
Funds restricted and may
only be used for the
replacement and
maintenance of
commemorative bricks.
Treasurer approved
in-year transfers in
accordance with the
terms and conditions
of the agreement.
Commemorative
Program
To fund the acquisition
and replacement of
commemorative
benches.
No established
maximum or
minimum.
Funds transferred in
from private donations
or bequests.
Funds restricted and may
only be used for the
purchase and replacement
of commemorative
benches.
Treasurer approved
in-year transfers in
accordance with the
terms and conditions
of the agreement.
Donations
To fund fulfill charitable
donation agreements as
per the Charitable
Donations policy.
No established
maximum or
minimum.
Funds transferred in
from private donations
or bequests.
Funds restricted based on
the conditions of the
bequest/donation
agreement and may only
be used for their sole
intended purpose.
Treasurer approved
in-year transfers in
accordance with the
terms and conditions
of the agreement.
Council approved
through Operating
Budget or other in-
year Council reports
for joint ventures,
Treasurer approved in-year
transfers in accordance
with the terms and
conditions of the agreement.
Council approved
through Operating
Budget or other in-
year Council reports for joint
ventures, per the Charitable
Donations policy.
____________________________________________________________________________________________________________________________________________________________________________________
Page 14 of 15
Name
Purpose
Target
Balance
Funding Source
Designated Use
Authority/Timing
per the Charitable
Donations policy.
Ranta Memorial Park
Bequest
To fund the cost of new
or replacement of
existing Ranta Memorial
Park assets.
No established
maximum or
minimum.
Funds transferred in
from one-time
bequest.
Funds restricted and may
only be used for the
replacement and
rehabilitation of Ranta
Memorial Park assets.
Council approved
through Capital
Budget or other in-
year Council reports.
Water Capital
To assist in financing the
Capital program for
Water.
Based on the
Water/Wastew
ater Rate
Study.
Water Operating
budget.
Funds the replacement
and rehabilitation of
existing water
infrastructure.
Council approved
through Capital
Budget or other in-
year Council reports.
Wastewater Capital
To assist in financing the
Capital program for
Wastewater.
Based on the
Water/Wastew
ater Rate
Study.
Wastewater Operating
budget
Funds the replacement
and rehabilitation of
existing wastewater
infrastructure.
Council approved
through Capital
Budget or other in-
year Council reports.
Non-Tax Supported Obligatory Reserve Funds
Building Service
Operations
To mitigate fluctuations
in the building permits
fees.
Maximum of
two (2) years
Operating
expenses.
Building operating
budget surplus.
Funds used to offset
operating deficits within
the Building Division, as
outlined in the Building
Code Act, 1992.
Treasurer approved
in-year transfers as
authorized by the
Building Code Act,
1992.
Cash-in Lieu of
Parking
Provides for the payment
of cash-in-lieu of
conveyance of parking
for areas permitted within
the Town's Zoning By-
law 1999-52, as
amended, and in
accordance with the
Planning Act, 1997.
No established
maximum or
minimum.
Funds collected from
development/redevelo
pment, in lieu of the
conveyance of
parking for General
Commercial Zones
only.
Provides for the
rehabilitation of existing
parking and/or supports
the acquisition of new
parking lots and or
installation of EV charging
stations.
Council approved
through Capital
budget or other in-
year Council reports.
Canada Community
Building Fund
The Canada Community
Building Fund (formerly
known as the Federal
Gas Tax Fund) is a
permanent source of
federal funding for local
infrastructure to be used
across 18 project
No established
maximum or
minimum.
The Town receives
funds from the
Association of
Municipalities Ontario
(AMO) on behalf of
the Federal
Government per a
Municipal Funding
Agreement which
Funds must be used for
infrastructure construction,
renewal, or enhancement
within 18 project
categories as established
by the Government of
Canada.
Council approved
through Capital
Budget or other in-
year reports.
Per the Municipal
Funding Agreement,
funds must be
expended within five
Authority/Timing
The Canada Community Building Fund
(formerly known as the Federal
Gas Tax Fund) is a permanent
source of federal funding
for local infrastructure to be
used across 18 project categories
to address local priorities.
The Town receives funds from
the Association of Municipalities
Ontario (AMO) on
behalf of the Federal Government
per a Municipal Funding
Agreement which requires
the funds be deposited
in a dedicated reserve
fund.
Council approved through Capital
Budget or other in- year
reports. Per the Municipal
Funding Agreement,
funds must be expended
within five (5) years
after the end of the year
in which funds were received.
____________________________________________________________________________________________________________________________________________________________________________________
Page 15 of 15
Name
Purpose
Target
Balance
Funding Source
Designated Use
Authority/Timing
categories to address
local priorities.
requires the funds be
deposited in a
dedicated reserve
fund.
(5) years after the
end of the year in
which funds were
received.
Development Charges As prescribed by the
Development Charges
Act, 1997, provides
financing for growth
related projects
undertaken by the Town.
Reserve fund
balance must
be zero by
build out and
debt interest
cannot exceed
20% of annual
DC
revenues.
Charges imposed and
collected from
Developers prior to
the issuance of a
building permit on
new development.
Funds transferred out
for the growth-related
component of projects
identified in the
Development Charges
Study, as per the
Development Charges
Act, 1997.
Council approved
through Capital
Budget or other in-
year reports.
Grants
To accommodate grant
commitments, including
the Ontario Community
Infrastructure Fund
(OCIF).
No established
maximum or
minimum.
External grants from
various government
granting agencies.
Funds must be used in
accordance with the grant
terms and conditions.
Treasurer approved
in-year transfers as
per the terms and
conditions of the
grant agreement.
Parkland Dedication
Provides for the payment
of cash-in-lieu of
conveyance of land for a
park or other public
recreation purpose, in
accordance with the
Planning Act, 1990 and
By-law 2023-027.
No established
maximum or
minimum.
Funds collected from
development/redevelo
pment, in lieu of the
conveyance of
parkland.
Provides for the purchase
and development of
parkland in developing
areas and redeveloping
areas and/or supports the
upgrading of existing
parks/facilities.
Council approved
through Capital
budget or other in-
year Council reports.
Purpose
Funding Source
Authority/Timing