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Cranbrook, BC (December 11, 2023) – The City’s Five-Year Financial Plan (2023 – 2027) Bylaw No. 4114, 2023 was adopted on May 1, 2023.  Throughout the year, several unexpected events happened as well as adjustments to carry forward projects, making it necessary to amend the Five-Year Financial Plan to reflect spending changes throughout 2023.

The proposed changes to the City of Cranbrook’s Five-Year Financial Plan (2023 – 2027) Bylaw No. 4114, 2023 are listed below from the 2023 – 2027 Financial Plan Amendment Report.  Throughout the year, the proposed changes have gone in front of Council for approval. 

•    Lagoon Dyke and Piping Upgrades Phase 2 - $5,571,000 added to the Five-Year Financial Plan, funded from grants.
On February 10, 2023, the BC government announced the Growing Communities Fund to help address local governments need for infrastructure and amenities to support growth.  The City of Cranbrook received $5,571,000.

During the June 12, 2023, Council Meeting, Council authorized the grant be used for Phase 2 of the Lagoon Dyke and Piping Upgrades.

•    Memorial Arena Roof - $3,000,000 added to the Five-Year Financial Plan funded from Internal Borrowing – Reserves.
During the Special Council Meeting held on November 7, 2023, Council approved borrowing funds from the Moir Park Reserve to complete emergency repairs to the Memorial Arena structural beams at a cost up to $3,000,000. 

•    Childcare Space Planning - $150,000 added to the Five-Year Financial Plan funded from Reserves.

Council approved an expenditure up to $150,000 for childcare space planning during the October 30, 2023, Regular Council Meeting.  There is a two-year window to apply for capital grants to build childcare building and this project is refundable by the Government of BC upon successful application for a childcare space grant.

•    Southwood Heights Phase 1 Subdivision – Development Cost Charge (DCC) Project/Oversizing - $415,229 added to the Five-Year Financial Plan.
During the September 11, 2023, Regular Council Meeting, council authorized the use of $112,632 from the Roads Development Cost Charge Reserve, $20,000 from the Roads, Subdivision Upgrades annual allotment and $282,598 from the 2023 Capital Roads Program to fund the roads oversizing and 17th Street South DCC project for Southwood Heights Phase 1 Subdivision.

•    City Hall Boiler – Emergency Repairs - $87,033 added to the Five-Year Financial Plan, $79,849 funded from Facilities Reserve and $7,184 funded from Fortis Rebate.

•    Mechanized Garbage Trucks – Reduced portion funded by Borrowing by $1,015,837.

The original budget of $2,100,000 was for both garbage trucks and bins.  The project was split into 2 separate projects and the borrowing was reduced to $1,084,163 for the mechanized trucks.  A new project was created for the garbage bins of $1,015,837, funded from the Solid Waste Capital Reserve.

•    Social Development Coordinator - $85,000 added to the Five-Year Financial Plan funded by contribution from Regional District of East Kootenay.
This project was in the budget for $50,000 which is the City’s share.  Project was increased to $135,000 to reflect the contribution from RDEK.

•    Balment Stairs Replacement - $58,107 added to the Five-Year Financial Plan funded by Reserves.
Council approved funding an additional amount of $58,107 during the June 12, 2023, Regular Council Meeting.   This project was in the budget for $279,273.  The tender closed on the Balment Stairs project with only one submittal at a cost that represents a contingency below 10%.  The additional amount is to increase contingency funded from Capital Works Reserve.

•    Situation Table - $75,000 added to the Five-Year Financial Plan funded by grants.
The City was successful at receiving a grant from the Province of BC of $75,000.  The funding has been provided by the Collaborative Public Safety Programs with the Ministry of Public Safety and Solicitor General as part of its mandate to reduce crime and promote public safety through multi-sector collaboration.

•    Fleet Policy & EV Plan - $45,000 added to Five Year Financial Plan, funded from grants.
The project was in the budget for $45,000.  The project was increased to $90,000 to reflect FCM grant applied for on July 31, 2023.

•    Dedication of Playle, Mennie & Collinson Roads - $42,000 added to Five Year Financial Plan, funded from Reserves.
During the June 12, 2023, Special Council Meeting, Council authorized staff to proceed with dedicating Playle, Mennie and Collinson Roads.  Council further authorized the use of $42,000 for surveying and legal fees funded from the Land Sales Reserve. 

•    Wildfire Preparedness & Prescribed Burn - $40,000 added to Five Year Financial Plan funded from Reserves.
During the July 10, 2023, Regular Council Meeting, Council approved a transfer of $40,000 from the Fire Mitigation Reserve to cover costs of planned wildfire mitigation activities in 2023.
 
•    Acquisition of Undedicated Portion of 30th Ave North - $30,000 added to Five Year Financial Plan funded from Reserves.
During the May 29, 2023Regular Council Meeting, Council authorized staff to acquire the undedicated portions of 30th Ave North from the Province of BC.  Staff further authorized the use of $30,000 for surveying and legal fees to be funded from the Land Sales Reserve.

•    Other minor projects added to budget nets in an increase to the total budget expenditures of $109,500.

The public is invited to review and comment on the above proposed amendments to the Financial Plan (2023 – 2027). 

Written comments will be accepted by Charlotte Osborne, CFO until 4:30pm on Friday, December 15, 2023, and will be reviewed by Council at the December 18th Special Council Meeting.

For more information, please contact Charlene Courtney, Deputy Director Finance at [email protected] or (250)-489-0203.