Staff of the city of Fort St. John implement Financial Policy Framework

FORT ST. JOHN, B.C. – The staff of the city of Fort St. John has been working hard to create the Financial Policy Framework to help with decision making in all aspects of municipal administration.

Presented to Council on Tuesday, November 12th, 2019 David Joy, General Manager of Corporate Services shared with City Council at the Committee of the Whole meeting that this Framework should be thought of as a ‘living document’ that will guide and adapt over time.

Joy shared with Council, currently the finances for the city are on solid ground yet there is no certainty of Fort St. John’s future finances and this is how working with the Framework will help. By being transparent and keeping the public aware of where the city is and wants to be, by planning a process and using money to be financially sustainable.

With the break down of 10 inter-dependent financial policies helps to guide administration, to be transparent and accountable. These policies are interconnected, which means when applying strategies one will affect the others.

 

 

 

 

On the solid ground and proud financial stability can not be sure of the future finances

document and background document and presentation

general public where we are and where we want to be

planned process and using money financial sustainability

10 interpendent financial policies to guide administration, to provide transparent and accountable

growth in infrastructure, roads, water

above ground investment capital improvements

quality of life planning, unique amongst municipalities, positive and planned

 

Started with a resolution in 2018

looked further into what was really going on with financial numbers and resources

draft in 2018

15 to 20 different versions, Urban Systems help develop guiding principles

living breathing document financial stability into the future health of FSJ

 

11 policies Well functioning cost-efficient planning for additional assets

interconnected so strategies with one will affect the others

cannot rely on grant money yet no guarantee for finances that offset expenses want to be flexible and competitive with other communities as a regional hub

 

Strategies that will stand the test of time

adaptable and be able to stand on its own and mitigate

need a plan for saving and be prepared in case of need

 

residents benefit directly and indirectly such as non-profit

 

strategies are complementary to values, the city does listen and care and communicate, proactive, charrette, lets talk initiative

integrity, planned and principals

over all perspective reflect on the previous use

improvements, contributing, financially progressed

the story how we will be financially sustainable

measure progress and success to remain competitive

 

liquidity 14 mill to cover responsibilities

pay current bills six times over

Short construction period

reserves will start to be used, asset management (Link to cow meeting)

Grant funding, transition to community foundation

the presentation goes over all aspects of where money is, goes and comes from for transparency.

northeastern regional hub, costs for fire dept highest. fire services, servicing 3 services

Sustain the success, taxes, property tax, objective is revenue to be sustainable

taxation strategies and objective slide

annual budget

asset management transparent and changes don’t happen all at once

timeline posted at the bottom of presentation

public should be assured

ackerman, pg 16 of 37 grant revenue 30 mil annually 24 pra 5 million to the community foundation council decides on grant revenue and direction as it effects the tax rate

20 of 37 fire service fire protection agreement mutual aid agreements and outside agreement community is in good hands

22 of 37 property tax for similar communities. hard to compare apples to apples so need a assortment way to look at it.

24 of 37 staffing

important to ackerman community foundation would be available for permissive tax