TOs Mayor and Council September 18th, 1978

MEMORANDUM

FROM: - Finance Committee

1.. Purchase of Printer for Computer

. At a recent meeting of the Finance Committee, the Treasurer
submitted a report outlining problems that he is experiencing with the
printer that is a part of our mini~computer installation. The particular
printer that we have has, apparently, proved to be not very reliable and
we have been experiencing a considerable number of breakdowns. This is
apparently characteristic of this type of printer and other municipalities
with the same installation are experiencing worse problems than we are.

As a result of this, the supplier has agreed to give us our full
cost as a trade-in and the Treasurer has proposed an upgrading to a higher
speed printer at the same time at a cost of approximately $8,400. The
main thing is to get a more reliable unit as when the printer is down, the
computer sits idle. The higher capacity printer will improve the capabilities
of the whole installation and as we put more functions onto to the machine,
the higher speed will be an advantage.

The Finance Committee has reviewed this purchase with the Treasurer
and recommends that we proceed with the purchase of the new printer at a cost
of $8,400. with funds to be provided from the Reserve for Future Capital
Expenditures.

2. Assessment Options -— 1979

The Finance Committee reviewed detailed information submitted by
the Assessment Authority summarizing the projected 1979 Assessment Roll.
Council selected Option 'D' when the new assessment procedure was initially
introduced and if there is to be any change in options for 1979, the Council
must pass the necessary By-laws by November 10th.

Attached is the printed summary of the various property classifications
with the proposed taxable values under each of the four options. There is very
little shift in taxation by remaining on Option 'D'’ and you will note that there
is a very slight reduction in the tax share of single family residential, .
utilities, farm land and the Statutory assessments (pole lines, telegraph lines,
etc.). Most of these reductions ranging only from .13% to .19%. Similarly,
there are marginal increases in taxation for multi-family residential properties
and business properties, these increases ranging only from .19% to .57%.

The Finance Committee has reviewed this information and recommends
that we remain on Option 'D' for 1979.

LDP /w