2018 Belleville Operating Budget

Property Tax Bylaw

Debt

Asset Management Contribution Adjustment

A reduction to the Asset Management Reserve Fund Contribution of $717,000 is required as outlined in the council resolution on September 26, 2016 outlining; “THAT the [Yardmen Arena Expansion Project] monies be funded from the issuance of long term debt to be funded from the Asset Management reserve fund. This reduction will cover the respective 2018 long term debt payments, which will commence half way through the 2018 year. In addition, and in accordance with increased Asset Management Planning recommendations highlighted in Operating issue 1-02, an increase in the Asset Management contribution of $501,700 is included. This results in a net Asset Management Contribution adjustment of $(215,300).

Asset Management Contribution reduction – debt costs $(717,000)
Asset Management Contribution increase – maintain service levels 501,700
Net Asset Management Contribution (215,300)