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The Finance and Administration Committee provides strategic direction
and acts as an advisory body to Regional Council ensuring efficient
and effective management of the Region’s finances. The Committee
oversees financial management, procurement, human resources, information
technology, physical resources, legal, records management and court
administration services.
The Finance and Administration Committee presented Regional Council
with the 2006 Business Plan and Budget that was approved in December
2005, the earliest budget approval in York Region history.
fiscal
management
GOAL:
Provide
effective fiscal management, administration and planning of York Region’s
resources and deliver sustainable financial policies to support corporate
strategic initiatives.
achievements:
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Maximized investment returns providing additional
revenues at low risk |
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Investment returns exceeded portfolio benchmark
by over 100 basis points, the 2nd consecutive year of this achievement
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Development Charge collections of $142.3 million |
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Among the lowest costs of administration for Ontario municipalities
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Issued public debentures offerings during the year, borrowing
a total of $239.9 million at historically low interest rates
to finance new and updated infrastructure
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Maintained AAA credit rating by both Moody’s Investors
Service and Standard & Poors
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program
efficiencies
GOAL:
Lead
the search for program efficiencies and continuous improvement opportunities.
achievements:
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Identified program reductions and efficiencies
of $8.6 million in the 2006 budget development process |
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Incorporated a balanced approach to evaluating
program delivery by utilizing key performance indicators for
service levels, efficiency, customer service and program outcomes
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specialized
funding
GOAL:
Provide
continued funding to partners dedicated to enhancing York Region’s
environment and human services.
achievements:
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Provided $4.3 million to conservation authorities
for water improvements, land conservation and education |
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Contributed $7.3 million to capital redevelopment
projects at local area hospitals |
technology
resources
GOAL:
Effective
management of finance and administration activities with an emphasis
on innovation, cost-efficiency and continuous improvement.
achievements:
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Updated the York Region Information Technology
(IT) Strategy – a five-year plan for strategic investment
in technology – to support Regional service delivery and
the effective deployment of IT resources |
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Initiated an Enterprise Architecture approach
to ensure consistent standards for data, applications and technology
projects |
greater
performance
GOAL:
Contribute
to York Region’s strategic visions and initiatives.
achievements:
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Awarded the operating contract for VIVA Rapid
Transit |
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Approval of York Region’s first Strategic
Accommodation Plan – a projection of the Region’s
facility accommodation requirements over the next 5-10 years
– ensuring staff are located in quality, cost effective
accommodations and customer service delivery is enhanced |
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Expansion of the energy management program including
the energy-efficient design of new facilities, energy retrofit
of existing facilities, an energy procurement strategy and $200,000
in annualized savings as a result of a retrofit to the York
Region Administrative Centre |
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