NRRM pauses development of reserve fund investment policy

FORT NELSON, B.C. — The Northern Rockies Regional Municipality (NRRM) is pausing its plans to start investing its reserve funds.

During the October 27th committee of the whole meeting, NRRM council was presented with a draft investment policy to review.

Following the meeting, staff members were directed to finalize the policy, but according to NRRM communications and administrative coordinator Alycia Gregory, the municipality has since elected to put the policy on hold.

“After further discussions with the [Municipal Finance Authority of BC] MFA, we’ve decided to put the policy on hold for now to ensure it more accurately reflects the services they provide to local governments,” Gregory said in an email to Energeticcity.ca. 

The proposed draft policy would have seen the MFA, a provincial government-operated financial institution, become the municipality’s portfolio fund manager for all its reserve funds. 

However, according to Gregory, it’s currently unclear whether or not the MFA would be able to take on that role for the NRRM.

As of the end of 2024, according to the NRRM’s statement of financial information, the municipality has $51,559,811 in total reserve funds.