The city’s high-powered prerogative to pull off its capital projects plans this year has it cracking open the financial plan and adding in a few more line items.
Grand Forks City council resolved recently to introduce and discuss another 2017-2021 Financial Plan Amendment Bylaw to help further along its capital projects agenda, referring the first three readings of the latest version of the bylaw to the Sept. 18, regular meeting of council.
A city staff report to council noted it had recently passed a resolution to amend the 2017-2021 Financial Plan to include a capital expenditure of $1 million for the electrical voltage conversion project, with $150,000 to be funded from external contributions and the balance of $850,000 to come from reserves.
In addition, staff would like to include some minor changes related to the wastewater treatment plant and lift stations, and proposed the following:
- That the amounts of $15,000 each allocated for the City Park Lift Station Upgrade and sewer lift station pumps be combined into a single project, lift station equipment, and be reduced by $10,000 for a new combined total of $20,000;
- That the Headworks Grinder project be increased by $10,000 to $44,343.
“These changes to wastewater capital have no overall financial impact, but will enable staff to fully complete the projects and bring the treatment plant back to its initial fully functioning ability,” read a city staff report to council.
It was noted that the net result of the adjustments for 2017 created an increase of $150,000 in grant revenue and an increase in capital expenditures of $1 million.
However, total capital expenditures over the five-year financial planning period remain unchanged, as the voltage conversion project was originally included in the capital plan at $500,000 each year for 2018 and 2019.
According to the city report, amending the financial plan “ensures that the city’s additional expenditures are properly authorized and in compliance with provisions of the Community Charter.”
By proceeding with this capital expenditure in 2017, instead of in 2018/2019 as originally planned, the city’s portion of funding for this project will be reduced from $1million to $850,000.