City weaning itself off the Fair Share operational bottle

When discussing including portions of and intent of their five year plan to the province, city council revealed its plan to stop using Fair Share money for city operations - and instead begin moving the monies to capital projects.

Coun. Blair Lekstrom said some numbers were key to be locked down, noting it is one thing to use Fair Share monies for operational debt repayment, another matter entirely to actually fund city operations in the day to day. 

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He suggested that $2.5 to $3.0 million be noted for debt repayment and reflected in correspondence to the province. Mayor Dale Bumstead agreed.

“It sends a strong message,” added Bumstead.

It was noted that a goal of 85 to 90 percent of Fair Share monies would be phased out of operational budget funding over the next seven years.

Council will begin work on 2020 budgeting in July of this year, with August planned for the first draft of the budget it was revealed.

“By July and August we will start discussions and we can have a schedule and timelines by end of June,” noted city CFO Flavia Rossi Donovan.

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