Reserve Funds are a critical component of the Township's long-term Capital Planning.
There are two types of Reserve Funds:
Obligatory Reserve Funds |
From time to time, legislation requires revenue received for special purposes to be held separate from the general revenue of the municipality. The Township holds obligatory reserve funds for the following areas:
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Discretionary Reserve Funds |
Established when Municipal Council wishes to set aside revenues to finance a future expenditure for which it has authority to spend money, and physically set aside a certain portion of any year's revenues so that the funds are available as required. The Township holds funds within the following discretionary reserve funds. Infrastructure Reserve Funds:
Operating Reserve Funds:
Developer DepositsThis reserve fund is derived from developers’ deposit for future maintenance and replacement costs for the following sub-funds:
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Reserve Fund Balances |
Below is an un-audited listing of balances held within Township Reserve Funds as of December 31, 2020 Obligatory Reserve Funds
Discretionary Reserve Funds
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Contact us for more information on Reserve Funds and the current Reserve Fund By-Law at the Township.
Contacts