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FORT ST. JOHN, B.C. – At the recent Regular Council Meeting on January 28, 2019, Council, provided a first reading of the 5-year Financial Plan Bylaw and approved the Capital Budget only in principle to apply for Peace River Agreement Funding. There are still a few more steps until it is officially approved.
In 2019, the capital budget includes four-laning of 100 street up to Northern Lights College for $5.9 million, $5.5 million for renovations at Centennial Park, $2.8 million for the new RCMP building with more money budgeted for that project in 2020 and 2021. The list of projects in 2019 also includes a fire training centre for $1.5 million and sewage lift station upgrades worth $4 million.
The City has budgeted $255.8 million for capital projects over the next five years that are funded by sources such as;
- Peace River Agreement
- Long Term Borrowing
- Current Year Surplus
- Contributions by others
These monies then become funding for infrastructure under the titles;
- Transportation, Roads, Sidewalks
- Facilities, Buildings, Parks
- Water, Sewer
- Equipment, Fleet, Machinery, IT
- Studies, Plans, Projects
The Budget also showed that the City has $70.7 million in reserves for both its capital and operating budgets, and has a current debt capacity available of $76.6 million, with a debt servicing capacity of $14.1 million per year.
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