Levy Budget Adjustment Summary - Quarter 2 Financial Update (2017)

Throughout the year, budget adjustments are made to reflect revised external funding for levy programs and to reallocate costs between departments or accounts due to operational changes. The primary drivers of the external funding adjustments are Ministry funded programs as they set their budgets following Regional levy budget approval. However, the Ministries want to see these dollars reflected in the Region's levy budget. For this reason, adjusting the gross levy budget throughout the year had been standing practice of Niagara.

Region. Adjusting the gross levy budget has no impact on the net tax levy as both external revenue and expenses are increased equally to reflect program requirements. The net tax levy budget is not adjusted. Below is a summary of gross levy budget adjustments that have been processed to date. Reallocations of costs within departments or categories are not summarized below. The adjusted budget is presented throughout this reporting book.