Title
Rescind Policy FI 012, Contingency Funds (Operating)
Proposed Motion(s)
That Council rescind Policy FI 012, Contingency Funds (Operating)
Body
Administration Recommendation(s)
Administration supports this recommendation.
Purpose
To rescind Policy FI 012, Contingency Funds (Operating).
Summary
Administration completes a review of all Restricted Surplus funds on an annual basis. Last year, this review was presented to Council on June 11, 2013 for approval. Council approved the amendments included in this Request for Decision (RFD 13-084). One of these amendments, found in Attachment II recommendation number 2, was to delegate the approval authority for the Contingency Funds (Operating) to the CAO. As a result, the Contingency Funds (Operating) policy is no longer required.
Financial Impact: N/A
Cost: 0
Source of Funding: N/A