News — 18 October 2017

Dryden Treasurer seeking direction from council on how to fund capital projects

By Dryden Observer Staff

Treasurer Steven Lansdell-Rolls spoke to council on Monday about the city’s financial needs.

In preparation for the 2018 fiscal year and budget the senior management met and reviewed capital requirements for 2018. Additional meetings are planned to take place over the next few weeks. 

The recent Asset Management Plan highlighted a more than $13 million infrastructure deficit and considerable annual infrastructure spending requirements.

Preliminary high-level anaylisis of the 2018 operating budget requirements show an estimated $500,000 of city funding available for capital.

The city is not able to take on additional debt in 2018 and Lansdell-Roll put forward three options to increase city funding: increase revenue, reduce expenses and utilize existing reserves; currently $3.7 million exists in seven separate reserves including the electronics reserve, general capital, and sewer/wastewater.

Senior leadership expressed they need a minimum of $1 million in city funding available for capital in 2018.

While 2018 is set to be more expensive for the city when it comes to debt repayment council approved the request for at least $1 million for capital, which option council will choose to pay for the capital expenses is yet to be determined.

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Chris Marchand is a native of Dryden, Ontario. He served his first newspaper internship at The Dryden Observer in 1998 while attending journalism studies at Thompson Rivers University in Kamloops B.C. He's worked desks as both reporter and editor at the Fernie Free Press as well as filled the role of sports editor at the Cranbrook Daily Townsman. Marchand was named editor of the Dryden Observer in Aug. 2009.

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