City Council Amends Financial Plan notes of funding opportunities and use of Reserves as Equipment purchase moves forward

City Council members provided quick approval to a request to Amend the Financial Plan on Monday night, that following the introduction of a late Agenda item that also noted of the need to replace a piece of Operations Equipment.

The Report from CFO Corinne Bomben, outlined how the City had been notified of some grant funding opportunities  not previously known, with 250 thousand dollars available for application: one for housing assessments, the other for Emergency Management funding opportunities.

The Financial Amendment also included an update on the state of some key Operations equipment, that being a back hoe which is in need of replacement. Council was asked to approve of the use of 200,000 dollars from reserves for the purchase.

"The City’s Mini-Hoe has had a significant failure estimated to cost approximately $40,000 to repair. The machine is a 2013 model and is estimated to cost approximately $150,000 - $200,000 net of trade-in to replace. 

The expected useful life of this type of machine is five to seven years therefore incurring the cost to repair the existing machine likely will be a lost investment within short order given its age. Staff recommend full replacement given the value to the city is improved overall. 

The City proposes using the equipment replacement reserve meaning no additional impact to taxpayers." -- From Monday's Report to Council

The Back hoe replacement plans were already in motion by the time City Council sat down for their Monday Council session. As we noted last week,  the Bid posted to BC Bid on February 5.

Council members did not have comments or questions related to any of the items related to the Report from Ms. Bomben as they adopted the motion.

The Emergency Management Funding opportunity had made for a short presentation earlier in the session, with Veronika Stewart the City's Manager of Communications,  Engagement and Social Development observing that the City would be putting the funding to work to top up the Victim Services Manager and the work that office does in the community.

The housing funding grants would be used towards the city's Housing Needs Report work and that of the Official Community Plan.

The full report and more background on the grant opportunities can be reviewed below:

More notes related to the Monday Council session can be reviewed through our Council Timeline Feature.

A wider overview of the City's Operation Department can be explored here.

Past Council Discussion topics can be reviewed here.