The Corporation of the City of Port Coquitlam

Council Meeting Agenda

January 9 th, 1993
8:30 A.M.

Item #

1 Budget discussions

> Review basic budget formula

TAXES = Expenditures — other revenues

> Council instructions at start of budget process

"Maintain level of service"

> Expenditure Summaries
Quick overview
Major increases

Negotiated salary and wage increases
Reminder 2/3 of costs are salaries or benefits.

Mtce of new inventories
Election

R.C.M. P. contract

Start repayment for Reeve Park construction

> Revenue Summary

Quick overview

Major changes
Decreased investment income — re interest rates

Decreased Provincial revenue sharing

> Property taxes and property assessments

My assessment has increased by 20% does that mean
my tax bill will increase by 20%.

Formula

Taxes needed / taxable assessments = tax rate

> Goals of this meeting

To explain services provided by the City and the
cost of providing those services.

Te obtain further lustructions from Cousiell on:
—Level of service
—Acceptability of tax increase