They may be in the final stages of finishing up their work on the 2024 budget, but an announcement from Tuesday out of City Hall shows just how much of an evolving thing Financial planning is when you are dealing with infrastructure issues.
A Social media post from yesterday, notes of a proposed amendment for the 2023 Financial Plan, with some details on the changes to the water fund.
The following are changes to the Water fund proposed by 2023 FIVE YEAR FINANCIAL PLAN AMENDMENT BYLAW NO. 3525, 2023 (See table image and click the link at the bottom of this post to see a bigger image).
These changes are proposed to address expenses not anticipated when the initial Financial Plan was adopted in May.
The proposed changes will not result in any change to City servicing levels or approved operating budgets, instead using funds from interest income, reserves and temporary internal borrowing from the land reserve.
Included in their information sharing is a listing of the proposed amendments.
As they note in their social media post.
This Bylaw was introduced and read by City Council at the Regular Meeting of Council November 27, 2023 at 7:00pm in Council Chambers, and is proceeding to Final Consideration at the Regular Meeting of Council December 11, 2023 at 7:00 pm in Council Chambers.
There was however, no discussion among the councillors towards those amendments as part of the Monday session. Something that might have helped in the explanation for the public as to what the changes may mean.
Should you have comments related to the topic; the public can submit comments regarding the proposed amendment to Corinne Bomben, Chief Financial Officer in writing via email at corinne.bomben@princerupert.ca, via fax (250) 627 0999
Or delivered to the Customer Service Desk at City Hall at 424 3rd Avenue West, no later than 4:30pm December 11th, 2023.
More notes from City Hall can be reviewed through our Council Discussion page.
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