VILLAGE OF LUMBY FINANCIAL PLAN

Transcription

1 VILLAGE OF LUMBY FINANCIAL PLAN

2 Municipal Taxation Provision for growth: $8,057 Additional tax requirement: $12,399 Decrease for building inspection: -$3,333 Total $17,123 ** *** +1.97%

3 Taxes Collected on Behalf of Other Governments and Agencies School; Police; Okanagan Regional Library; Hospital; Regional District of North Okanagan; (Whitevalley Parks, Recreation & Culture, and the Lumby & District Fire Department are the largest components of the RDNO tax requisition) B.C. Assessment Authority; Municipal Finance Authority. Expecting a modest decrease, due to close alignment of budget with prior year actual.

4 Sale of Services Virtually unchanged Other Revenue Up $31,395 or 5% ICBC and motor vehicle commission: +$5,000 (to $170,000) Partnership earnings: +$52,000 Internal equipment charges: -$20,800 (now offsetting expenses) Miscellaneous revenue: - $4,800 (being coded more specifically)

5 Unconditional Grants Small Community Grant: +$2,500 to $380,000 Conditional Grants Grant with Description Amount Provincial Street Lighting $ 1,000 BC Rural Dividend Fund (Investment Attraction) $ 18,480 BC Rural Dividend Fund (Lands Redevelopment & Servicing) $ 111,505 National Disaster Mitigation Program (Flood Mitigation Plan) $ 225,600 Federation of Canadian Municipalities (Asset Management) $ 60,000 Community Emergency Preparedness (ESS) $ 24,865 Emergency Management B.C. (Floodplain Mapping & Earthworks Assessment) $ 110,000 Gas Tax (Community Works Fund) $ 126,536 Emergency Measures (PEP Claims) $ 16,000 TOTAL $ 693,986

6 Local Governments and Partnerships Minor change of +$1,500 increase in revenue (less than a 1.4% change) Monashee Community Forest LLP

7 Transfers from Reserves Total proposed transfers = $648,539 Equipment Replacement Reserve Replacement of 2007 MT Trackless 155,000 Replacement of 1984 Intern'l Dump Truck 98,500 SUBTOTAL 253,500 Capital Reserve Salmon Trail bridge structural improvements 50, Shuswap - demo structure and improve area 20,000 Municipal Office Building Improvements - Year 3 35,000 SUBTOTAL 105,000

8 Transfers from Reserves Gas Tax (Community Works Funds)*** *** Assumes sufficient gas tax to fund the projects, otherwise certain Parks, Recreation and Culture collaborate projects will need to be put on hold, or the Regional District will need to secure other funding. Cemetery Master Plan Implementation Works 40,000 Lumby Sidewalk Capacity Building Project 40,000 Parks, Rec & Culture Collaborative Projects w/rdno 161,355 SUBTOTAL 241,355 Gas Tax - Received in ,536 Gas Tax - From Reserve 114,819 *** TOTAL GAS TAX FUNDED PROJECTS 241,355

9 Transfers from Reserves Financial Stability Reserve Investment Attraction and Housing Strategy Projects 2,520 Election Expenses 10,000 Enhanced Legal Services 20,000 Implementation of Housing Strategy Recommendations 7,000 Assessment of Creek Crossings 4,000 IT Hardware Replacements 4,500 Service Truck Underbody Plow and Sander 14,000 Update 2008 Inflow and Infiltration Program 30,000 Five In-Ground Waste Containers 8,200 Additional Street Maintenance & Paving 75,000 SUBTOTAL 175,220

10 Expenditures GENERAL GOVERNMENT SERVICES Legislative: +$4,228 Administrative: +$39,523 Part-time staff transitioned to full time in June 2017, making 2018 the first full year with this staff member; 2.0% Cost of Living (based on CPI) and merit based wage adjustments; One-time and special projects: +$102,460 Xeriscape municipal property; Municipal office roof, exterior wooden posts, front sign; Asset management project; Election expenses; Projects with the Lumby & District Chamber and Tourism Centre moved to a different category (from Grants to Economic Development);

11 Expenditures PROTECTIVE SERVICES $40,385 increase compared to the prior year Community Emergency Preparedness Project (grant funded) Additional building inspection services + more staff time being used Additional bylaw service hours (100 hours during the year)

12 Expenditures PUBLIC WORKS AND TRANSPORTATION SERVICES $40,000 for two (2) Lumby sidewalk projects (see next slide)

13 Work done 8 years ago on this issue by Quantum Consulting Group Ltd.

14 Expenditures $30,000 to study inflow and infiltration to update information and better understand storm water entering the Village s sanitary sewer system. $150,250 street maintenance budget (regular budget is $70,000) Extra attention required along Shuswap Avenue, Glencaird Street and Shields Avenue. $80,000 to address issues brought up as a result of the earthworks assessment Quickly deal with any low hanging fruit while actively trying to obtain other funding Makes funding available while we search for other sources (grants). No telling how long that might take.

15 Expenditures WASTE DISPOSAL SERVICES No notable changes. PUBLIC HEALTH SERVICES Includes a cemetery master plan (deferred from 2017) and related works ($21,500 for the plan, and up to $38,500 to do the recommended works)

16 Expenditures PLANNING & DEVELOPMENT SERVICES Lumby Comprehensive Flood Plan with a focus on utilizing 1826 Shuswap Ave: $226,000 Completion of the subdivision service bylaw update started in 2017: $2,000 Emergency Management B.C. Floodplain Mapping & Earthworks Assessment: $110,000 Lands Re-Development and Servicing Strategy: $111,505 Implementation of the Housing Strategy Recommendations: $7,000 Completion of the Investment Attraction project started in 2017: $21,000 BMX Park Feasibility: $8,500 Chamber Special Project (placeholder): $20,000

17 Expenditures LOCAL PARKS, RECREATION & CULTURAL SERVICES Increased by approximately $190,000 as a result of: Creek crossing assessments In ground waste containers (x5)

18 Expenditures LOCAL PARKS, RECREATION & CULTURAL SERVICES Parks, Recreation and Culture Collaborate Projects with the RDNO: $161,355 Cedar ridge park improvements: $16,875 (project total = $45,000) Royals park concession demo & new structure: $18,750 (project total = $50,000) Memorial pathway: $3,750 (project total = $10,000) Arena change room additions: $88,380 (project total = $400,000) Pool re-circulation and plant upgrades: $11,100 (project total = $29,625) Hanson park upgrades: $7,500 (project total = $20,000) Mabel Lake hall well: $15,000 (project total = $40,000)

19 Expenditures TRANSFERS TO OTHER GOVERNMENTS This category is budgeted to decrease by $128,656 as a result of: The reclassification of collaborate Parks, Recreation and Culture projects with the Regional District from Transfer to Other Governments to Parks - Contract Services. $161,355 proposed in 2018 $106,400 previously proposed (and approved) in 2017 Additional, voluntary Whitevalley Parks, Recreation and Culture financial contribution made by the Village is also being reclassified from this category, to Grants and Donations expected School Tax transfer is being reduced by $10,880 to be more in line with the 2017 actual amount

20 Expenditures INTEREST AND PRINCIPAL The budgeted expenses are consistent with ongoing Municipal Finance Authority scheduled debt repayments and reserve fund contributions in accordance with affordability and policy. Interest on the Village s MFA loan, Issue 97 (a $250,000 borrowing made in 2006 for use toward road improvements) was refinanced from 4.66% to 1.75% during 2017 and so the 2018 budget reflect the modestly decreased interest expense.

21 1. Replacement of the 1984 International Dump Truck This piece of equipment has been well used and properly maintained, but it is well past its expected service life and getting parts for it is difficult. This equipment is now failing and will be of limited or no use going forward. Replacement was attempted in 2016 with a request for quotation being issued by the Village, the result was little interest by suppliers and staff have concluded that the budget allocation was insufficient. The budget amount is therefore being increased to a point where staff believe replacement will be achievable. Furthermore, staff have identified a more useful replacement than another dump truck and have been investigating a hook lift truck that will be more versatile for public works. Estimated cost = $98,500 Source of funds = Equipment replacement reserve

22 2. Replacement of the 2007 MT Trackless The MT Trackless is one of, if not the most, heavily used pieces of equipment owed by the Village of Lumby. This machine is used to flail mow boulevards, right-of-ways, and with the arm attachment is able to cut on grade and areas difficult to reach with other equipment. The MT Trackless is also the primary equipment used to clear sidewalks within the Village, and with its snow blower attachment is able to pick up windrows and snow deposits. This machine is often used for extended periods of time with operators complaining of fatigue due to the discomfort caused by the operator s control setup and general lack of cab ergonomics. Furthermore the unsealed, poorly designed cab allows vapors from the machine s lubricants to seep into the cab. Estimated cost = $155,000 Source of funds = Equipment Replacement Reserve

23 3. Service Truck Underbody Plow and Sander Adding a plow and sander to the service truck will increase the versatility of the truck, and increase the Village s snow clearing capacity. Estimated cost = $14,000 Source of funds = Financial Stability Reserve

24 4. Covered Staircase between Glencaird Street and Linea Crescent There is a well-travelled pathway connecting Glencaird Street and Linea Crescent. Currently this pathway is bare earth, which may be acceptable during dry seasons but becomes more difficult to use when it s wet and hazardous in the winter. Staff is proposing that Council utilize the Village s Partnership earnings to install a properly covered staircase at this location. Doing so will decrease the risk of slips and falls, and even enable users who might otherwise avoid the pathways in its current state. Covering the staircase will reduce the maintenance required by municipal staff, and extend the life of the staircase by helping to protect it from the elements. Estimated cost = $62,500 Source of funds = Partnership earnings

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26 Village of Lumby ( Financial Plan) Covered Staircase between Glencaird Street and Linea Crescent Expenditures

27 5. Salmon Trail Bridges The bridges on the Salmon Trail are well used, and have received regular maintenance over the years. They have however been deteriorating and are in need of more extensive refurbishment so they can continue to be used safely. As it stands now staff will avoid certain bridges with machinery because they are no longer able to handle loads heavier than simple foot and pedal bike traffic. Estimated cost = $50,000 Source of funds = Capital Reserve Shuswap Avenue Building Demolishing and Site Clean Up When the Village purchased 1826 Shuswap Avenue in late-2016 there was a structure on the property (barn/shop building). Lumby staff obtained two (2) professional assessments of the building, both of which suggested the building could not be repaired, and recommended demolition. The Village is budgeting to do this during 2018, with any budget left over used to clean up some of the other debris that also still remains on the site. Estimated cost = $20,000 Source of funds = Capital Reserve

28 Expenditures TRANSFERS TO RESERVES & OTHER FUNDS $42,000 transferred to the Sewer Fund to assist with the financing of the Long- Term Wastewater Treatment Plant Upgrades (formerly referred to as the Liquid Waste Management Plan Phase 2) $54,273 transferring into the Capital Reserve $11,000 transferring into the Financial Stability Reserve $45,000 transferring into the Equipment Replacement Reserve

29 Cubic Meters Village of Lumby ( Financial Plan) WATER FUND Village of Lumby - Quantity of Water Treated No increase to consumption or flat rates currently proposed for Forecast is for a small increase in consumption, driven by growth / new construction. 500, , , , , , , , Year

30 WATER FUND GRANT REVENUE This category includes $200,176 from the Canadian Water and Wastewater Fund for the purpose of carrying out a Water Supply Study and Well No. 3 Replacement Plan. TRANSFERS FROM RESERVES Transfers from reserves include $12,914 transferred in from the Meter Reserve This amount is to cover meter purchase to replace old / failing meters $40,824 transferred in from the Financial Stability Reserve To fund the Village s share of the Water Supply Study and Well No. 3 Replacement Plan

31 WATER FUND Expenditures ADMINISTRATION Administration expense is expected to remain within $1,000 compared with the prior year; the increase is a minor inflationary increase. PURIFICATION AND TREATMENT Purification and Treatment is expected to increase by $3,300 or 4.3%. Of this $1,000 is attributed to the increased cost of labor and $2,000 is attributed to the increase cost of electricity. SERVICE OF SUPPLY Service of Supply is expected to increase by $174,500, this is the net impact from two project: Removal of the Groundwater Supply Program from the prior year: $66,500 Addition of the Water Supply Study and Well No. 3 Replacement Plan: $241,000

32 WATER FUND Expenditures TRANSMISSION AND DISTRUBUTION Transmission and Distribution includes a $15,000 for a new wireless meter reader, as the existing meter is almost 10 years old and in need of replacement. VALUE & HYDRANT MAINTENANCE No notable changes. PUMPING Electricity charges are expected to increase this expense category by $1,400. BILLING AND COLLECTION No notable changes. CAPITAL EXPENDITURES There are no Capital Expenditures budgeted for in the Water Fund in 2018.

33 WATER FUND Expenditures INTEREST AND PRINCIPAL No change expected in TRANSFER TO RESERVES The meter replacement reserve transfers all amounts collected for this particular purpose during the year. This is expected to be $17,918. Transfer to the Capital Reserve is budgeted for $56,440, and the transfer to the Financial Stability Reserve is budgeted for $30,824 (an overall net decrease in this reserve of $10,000 as the draw exceeds the contribution in 2018).

34 SEWER FUND Revenue Similar to water, the budget proposes no increase to the sewer consumption or fixed rates is proposed (subject to close monitoring of assumptions by staff) Also consistent with the water fund, a modest increase in sewer consumption is currently forecasted Grants Lumby was successful in securing a $197,130 grant from the Canadian Water and Wastewater Fund (83% funding) Lumby has applied for a $10,000 B.C. Infrastructure Planning Grant to finance a Shuswap Avenue Sanitary Extension Plan (50% funding)

35 SEWER FUND Revenue TRANSFERS FROM RESERVES (INTERNAL SOURCES) The Financial Plan proposes: $10,000 to come from the Financial Stability Reserve to finance the Village s share of the Shuswap Avenue Sanitary Extension Planning project. $42,000 to come from the General Fund Partnership Earnings to cover the Village s share of the Canadian Water and Wastewater Fund sewer project*. (*Long Term Wastewater Treatment Plant Upgrades, formerly the Liquid Waste Management Plan Phase 2)

36 SEWER FUND Expenditures ADMINISTRATION Increase $21,000 $20,000 being attributed to the engineering fees included in this category for the Shuswap Avenue Sanitary Extension Project (for which Lumby has applied for a grant to cover 50% of the cost) COLLECTION SYSTEM, LIFT STATIONS, TREATMENT & DISPOSAL, DEBT PRINCIPAL & INTEREST Collective decrease of $8,540 due to the removal of one-time expenses in the prior year, such as the sewer camera and the confined spaces improvements provisions that were part of the 2017 budget.

37 SEWER FUND Expenditures CAPITAL EXPENDITURES There are no Capital Expenditures budgeted for in the Sewer Fund in TRANSFERS TO RESERVE Reserves are budgeted to receive $101,000 in 2018 $89,000 going to the Capital Reserve and $12,000 being transferred to the Financial Stability Reserve. These reserve fund transfers are based upon the Village s ability to make them, and are consistent with the goals and targets of the Villages Reserve Fund Policy.

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41 APPENDIX 1 SUMMARY OF CAPITAL EXPENDITURES AND SPECIAL PROJECTS

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45 APPENDIX 2 SUMMARY OF COMMUNITY WORKS FUNDS (GAS TAX) ACCOUNT

46 Village of Lumby ( Financial Plan)

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48 CONCLUSION We trust the Committee of the Whole will find the Five Year Financial Plan to their satisfaction. Staff drafted this Financial Plan by: reviewing critical guiding material, such as the up-to-date Council strategic priorities chart, to ensure action is taken on the issues Council has identified as most important. asset and infrastructure status were reviewed (and are continually monitored) to ensure the Village continues to operate in a safe, efficient and productive manner stay attuned to ongoing and emerging local issues such as flooding, emergency preparedness, the cemetery, connectivity, the municipal and community carbon footprint, economic development, etc. Staff believe this plan addresses many of these issues, taking a balanced approach given the limited resources available.

49 Questions?