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POL.COR.16.04
Page 1 of 2
Legal Reserve Policy
Policy
POL.COR.16.04
Legal Reserve Policy
Policy Type:
Corporate Policy (Approved by Council)
Date Approved: March 30 2016
Department:
Finance and IT Services
Staff Report:
FAF.16.05
By-Law No.:
Purpose
This reserve will be used to fund legal fees that surpass the annual budget. This includes but is
not limited to OMB hearings, and disputes with the public. This reserve will not be used for
employee related disputes as the Town has a Human Resources Reserve that will fund these
expenditures.
Source of Funds
Funds will be transferred into this reserve in years where the full legal budget is not used.
Currently there is no proposed annual transfer but this may change as Staff will review this
reserve on an annual bases.
A target level for this reserve would be two years' worth of the Town's legal budget ($259,500 x
2) $519,000.
Application
This policy applies to all staff.
Definitions
None
Procedures
None
POL.COR.16.04
Page 2 of 2
Legal Reserve Policy
Exclusions
None
References and Related Policies
None
Consequences of Non-Compliance
Non-compliance with the Municipal Act, 2001 is subject to the remedies prescribed therein.
Review Cycle
This policy will be reviewed when legislation changes.