Recorded vote

That with respect to Councillor Keating’s Revised Motion, NM2013-32, the following be adopted: WHEREAS on 2011 June 28, Council adopted the motion that 'should tax room be offered by the Province, in the absence of structural tax reform, Council will take the tax room, and, with the proceeds, will prioritize (a) debt reduction and (b) capital funding, including life-cycle maintenance.'; AND WHEREAS several unique challenges are connected with the process of automatically absorbing these funds including unpredictability, political sensitively, and decisions on these funds often fall outside The City's regular business plan and budgeting process; AND WHEREAS the question of absorbing the tax room should be placed on the agenda of a council meeting to debate whether to absorb or to return the money to tax payers; AND WHEREAS the existing policy has little effect, as Council debates the tax room each year it is provided; AND WHEREAS the Province's new education tax formula provides for slightly more predictability than in the past; FURTHER BE IT RESOLVED that Council adopt a new process, as follows: At the end of budget discussions in year 1 and year 3 of the four year cycle, council will consider all still-unbudgeted capital needs. Council members may also bring forward operating or debt reduction ideas at this time as well. Council will then prioritize these unbudgeted needs. Should further tax room funds become available in that tax year, Council will then debate whether or not to move into the room, as well as the potential use of those funds using this prioritized list prior to tax rate finalization.