Hold:  Resolution for Reduction in Leveraged Funding 

Re: Agenda item for April 15th Special Meeting of the Budget and Finance Committee – Resolution Leverage Support Reduction


In light of the pending decisions regarding the reduction of leveraged funding, we, the undersigned, request a hold on the resolution until more detail is provided.  In this time of crisis, transparency and clarity are critical for short term and long term planning and decision making

Areas in need of clarity and transparency

Contractual clarity:

  • Are executed contracts which are reimbursable based upon invoice/receipts going to be able to be reimbursed for costs already incurred?
    • If so, is there a cut off date?

How are the frozen funds calculated?

  • Are the frozen NSP funds based upon the funds in the account or calculated based upon the number of councils who do not have contracts in place

Insurance Aggregation Program:

  • Does the frozen NSP fund include the 2nd payment for the Insurance Aggregation Program – the total funds were approved and contract executed for FY2020 – the 2nd payment is paid after insurance payment in the fall. (The policy itself runs April – April)


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