Quesnel City Council has approved it’s 2018 capital budget.
Kari Bolton is the City’s Director of Finance…
“Total capital budget for 2018 is $11,003,595. The Reid Street project of course is the largest project budgeted at 6.13 million, being funded by capital reinvestment reserve and the water utility fund.”
Bolton says the budget is balanced and is based on grants of 1.8 million dollars with the rest of the money coming from reserves, utility fees and taxation.
The five year capital plan was also endorsed.
It includes 375 thousand dollars for road rehabilitation and paving in each year, an amount that concerned Councillor Ron Paull a bit…
“Is there a mechanism where these amount could be increased or allowed to float with the CPI ? Because i’m afraid what’s happening here is we’re taking a little bit of a loss every year if we keep it the same.”
Director of Finance Bolton noted that it was something that they raise when they need to, adding that it 350 thousand dollars just a couple of years ago.