City takes plan to the public

Five-year financial plan still has to be approved in Parksville

Parksville city council is squeezing in a special meeting April 30 to have enough meetings to vote to approve their five year financial plan which has to be done by May 15. Council has completed their 2012 budget deliberations, but have to update the five year plan before they can vote on it as a completed bylaw.

“We aren’t typically in a rush around here,” mayor Chris Burger said of the extra meeting, pointing out they held a number of public meets during the budget process and stressing they want it to be as open and public a process as possible.

As previously reported, the 2012 budget will raise property taxes three per cent and freeze spending on 40 per cent of the budget areas.

The adjusted estimate for the accumulated surplus in general revenue, which goes towards longer term infrastructure projects, will be $4.1 million at the end of 2012, dropping to $1.6 million the following year, $2.9 million in 2014 and end up at $1.4 million at the end of 2016.

The water fund’s accumulated surplus ranges from $4 million to $324,000 over the five years and the sewer utility surplus will range from $1.7 to $2.5 million with some big projects on the horizon like the new river water intake and treatment facility.

 

 

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