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Attachment-2 to CS-2020-04
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City of Guelph Corporate Policy and Procedure
Corporate Policy and
Procedure
Policy
Long term Financial Framework
Category
Corporate
Authority
Finance
Related Policies
Debt Management Policy
General Reserve and Reserve Fund Policy
General Operating and Capital Budget Policy
Investment Policy
Approved By
Council February 24, 2020
Effective Date
Monday, February-24-2020
Revision Date
Sunday, January 01, 2023
Policy Statement
That all policy documents developed by the City of Guelph adhere to the measures
outlined in the Long-term Financial Framework (LTFF) of; Sustainability,
Vulnerability and Flexibility.
Purpose
The LTFF will guide decision-making as it relates to policy development. The policies
together will provide the basis for metric and key performance indicator (KPI)
development within the City strategies, master plans and operational business
plans (plans).
Definitions
Flexibility
The ability of the organization to adapt to changing environment to both capitalize
on opportunities and avoid threats.
Sustainability
The ability to maintain services over an extended period of time, providing
continuous service at the expected level to all intended customers.
Vulnerability
The level of resiliency within the organization to mitigate unexpected negative
factors while maintaining financial and service commitments.
Application
The LTFF will be used to assemble all relevant policies applicable to strategy and
plan development in a concise and consistent manner.
Review and development of policies will require the evaluation of each using the
three measurers identified above.
Use of the various policies during development of city plans is required. Service
areas are required to demonstrate within their plan how they have aligned with the
applicable policies. Specific metrics and KPIs are required that will demonstrate
achievement of the stated goals relative to the applicable policies.
Any subsequent updates regarding the plan require the established metrics or KPIs
to be updated and reported.
Reporting
The City Treasurer will be responsible for providing an annual update of appendix A
to Council at each fiscal year end.
Reporting will include a revised appendix A, including current updates to the
policies and metrics included.
As new policies are added to the LTFF reporting to Council of their inclusion will
occur at the next annual update.
Authority
The Treasurer has authority to adjust metrics and format of the LTFF, as required,
due to changes in City policies.
Policy Review
This policy will be revised at the beginning of each term of Council.
Appendix A Long-term Financial Framework
Policy
Last or
Planned
update
Sustainability
Vulnerability Flexibility
General
Reserve and
Reserve
Fund
2017
Achieving
target balances
Dependable
inflows
Appropriate
and allowable
uses, support
the Strategic
Plan priorities
Procurement
2018
Focus on full
cost of
purchasing
Proper
internal
controls and
guidelines
Innovative
options for
new ideas
Debt
Management
2020
Target % of
revenue
Maximum %
leveraged
Prescribed
purposes and
types
Revenue
2020
(planned)
Cost recovery
targets and
reliability
Expanded
sources
Relative to
peers
Multi-year
Budget
2020
(planned)
Robust
guidelines
Identification
of risk factors
Options for
adjustment
Capital Plan
2021
(planned)
Funded,
structured and
current
Linkage to
Asset
Management
principles
Opportunities
to adjust
Asset
Management
and Service
Level
2020/21
(planned)
Corporate
mandate and
implementation
Data driven
and
supported
Innovative
and
responsive
Growth
2021
(planned)
to be
determined
to be
determined
to be
determined
100RE
2020
(planned)
to be
determined
to be
determined
to be
determined
Internal
Controls
2022
(planned)
to be
determined
to be
determined
to be
determined