District of Sooke now has more money to spend on sewer upgrades after council passed a bylaw to create a sewer expenditures fund.
Money in the reserve fund, as well as any interest earned on it, can only be used for existing capital sewer expenditures, said Brent Blackhall, the district’s financial officer.
“We wouldn’t be able to use this [fund] for any expansions, as it would be millions of dollars,” he said, adding this money will go towards minor replacements or repairs.
The district budgeted $175,000 for sewer expenditures. The reserve would be for capital only, not operating costs.
