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
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