• Ad Hoc Commitee creates blueprint for fiscal future
• Adoption of Long-Term Fiscal Plan Report
• Reports

Ad Hoc Commitee creates blueprint for fiscal future

That Committee was established by Council in January 2004, to continue the work of the Ad Hoc Committee for a Five-year Fiscal Plan established in 2003 which ended with the previous term of Council.

The purpose of the Ad Hoc Committee was to structure a Long-Term Fiscal Plan for the City of Toronto, with such Plan to be submitted to Council as a blueprint for future budgeting and discussions with funding partners.

The Ad Hoc Committee reported to Council through the Policy and Finance Committee, and was responsible for developing fiscal policies to guide multi-year financial planning within the context of Council's Strategic Plan and other sectoral plans.

It provided input to the setting of Council priorities, informed and provided context to the annual budget process, and provided a framework for future-year financial planning.

Adoption of Long-Term Fiscal Plan Report

During 2003, the Committee deliberated and received staff presentations and reports on the Five-Year Fiscal Plan, including proposed approach and work plan, preliminary strategies on asset and liability funding, expenditure control and revenue enhancement, preliminary five year operating forecast and the proposed sustainable funding from senior governments.

During the four Ad Hoc Committee meetings in 2004, a number of staff position papers and status reports were submitted to the Committee.

On December 13, 2004, the Ad Hoc Committee had before it a staff report titled "Comprehensive Report on the City's Long-Term Fiscal Plan" including a draft Long-Term Fiscal Plan dated December 2004.

The Draft Plan identified and discussed eight financial issues the City is currently facing, and recommended 22 financial strategies, 15 fiscal principles and five financial policies summarized in an appendix C.

The Ad Hoc Committee recommended that Policy and Finance Committee adopt these recommendations and also received a staff presentation on a Long-Term Financial Forecast for the City.

At its meeting on April 12, 2005, City Council adopted Policy and Finance Committee's recommendation to adopt the recommendation of the Ad Hoc Committee, including the strategies, principles and policies as mentioned above.

Reports
| 2005 | 2004 | 2003 |

• Long-Term Fiscal Plan, Report
• Appendix C: Summary of Issues, Preferred Outcomes and Recommendations
• Amendments to Appendix C

• Meeting of December 13, 2004
  • Presentation
  • Comprehensive Report on the City's Long-Term Fiscal Plan
    
    
• Meeting of October 27, 2004
  • Discussion Paper on the Key Elements of the Long-Term Fiscal Plan, October 15, 2004 (PDF 142 kb)
  
  
  
• Meeting of July 14, 2004
  • Presentation
  • Reports:
    • Quality of Life Reporting
    • Summary of Changes in Approved Staff Positions & Gross Expenditures from 1997 to 2004
    • Policy on Management of Operating Budget Surpluses
    • Status Report on Performance Measurement in the City of Toronto
    • Capital Financing Strategy - 2004
    • Overview of Debt Loads and Credit Ratings of Major Canadian Municipalities - 2003
    • Transmittal - Staff Report "Property Tax Policies for 2005 and Beyond - Consultative Framework"
    • Status Report on the Long-Term Fiscal Plan
  
  
  
• Meeting of May 26, 2004
  • Presentation
  • Report on Terms of Reference for Long-Term Fiscal Plan Committee
  
  
  

• Meeting of September 18, 2003
  • Presentation (PDF 2mb)
  • Status Report on AdHoc Committee - September 18, 2003 (PDF 342kb)
• Meeting of July 21, 2003: Presentation (PDF 2.6mb)
• Meeting of June 23, 2003: Presentation (PDF 3mb)