Surplus Management Policy By-law

BY-LAW Number: 
2017-057
Summary: 

BEING A BY-LAW TO ESTABLISH A SURPLUS MANAGEMENT POLICY


NOTICE:

For a complete version of this document, including all related materials, download the attached PDF:

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BL2017-057 Surplus Management Policy.pdf173.16 KB
WHEREAS section 5(3) ofthe Municipal Act, 2001, S.O. 2001 c. 25, as amended, provides that a municipal power shall be exercised by by-law;
 
AND WHEREAS Council wishes to implement a policy with respect to the allocation of surplus funds remaining at yearend;
 
NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE TOWN OF COLLINGWOOD HEREBY ENACTS AS FOLLOWS:
 
1.    THAT the Policy entitled “Surplus Management Policy” appended hereto as Schedule “A” is hereby approved and adopted.
 
2.    THAT the “Operating Surplus/Deficit Allocation Policy” approved by Council Resolution No. 500 on October 4, 2010 be hereby rescinded.
 
3.    THAT this By-law shall come into full force and effect on the date of final passage hereof at which time all By-laws and/or resolutions that are inconsistent with the provisions of this By-law and the same are hereby repealed or rescinded insofar as it is necessary to give effect to the provisions of this By-law.
 
ENACTED AND PASSED this 21st day of August, 2017.
 
 
 
___________________________
MAYOR
 
 
 
___________________________
CLERK
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BL2017-057 Surplus Management Policy.pdf173.16 KB