Councillors unanimously approved a new reserve allocation strategy at the District of 100 Mile House council meeting on Dec. 10.
Administrators explained, and recommended, the strategy of amalgamating a number of existing reserve accounts and allocating the “Accumulated Operating Surplus” to a number of key functions during a recent 2014 budget workshop.
District chief administrative officer Roy Scott explained the consolidation and allocation of surplus will provide fiscal certainty, as well as increase the ability for capital planning in key areas – municipal infrastructure, utilities, and equipment replacement for emergency and community services – and other areas requiring somewhat less financial resources.
Scott added it would also be helpful to have money available immediately if emergencies come up.
After the meeting, Mayor Mitch Campsall said the consolidation will make it easier to get administrative work done.
“It will flow better. It will be easier for staff to deal with and it will be easier for [councillors] to determine where the money is sitting.
“It will make everything simpler. Too often, we make things more complicated than they have to be and harder to work with.”
Council will also try to maintain a balance of $500,000 in its Operations Surplus.
