"Council approved the 2019 Water Division Financial Plan No. 040-301 at their regular meeting held on March 26, 2019 (RCM-79/19).
The Financial Plan is based on operating, capital and reserve fund forecasts derived from the 2019 Approved Budget and the Five Year Capital Works Plans thereby ensuring full cost recovery and financial sustainability. These forecasts are presented in a full accrual financial statement format.
The Safe Drinking Water Act, 2002, O. Reg. 188/07, requires municipalities to obtain drinking water system licences as part of an overall Drinking Water Quality Management System (DWQMS). Licence renewals necessitate the preparation of a financial plan in accordance with O. Reg. 453/07".