News Item

Mayor Karen Farbridge Talks About Securing an Affordable and Prosperous Future

Posted on Monday, August 17th 2009   

Mayor Karen Farbridge (2000-2003 & 2006-present) presented us with a brief overview of the City's Capital Investment Strategy. The strategy is based on 3 principles, invest in existing infrastructure, invest in new growth and implement strategic directions. The City has now in place a capital spending plan for the next 10 years. Spending during each year is determined using a number of constraints such as: capital budget shall not exceed 20% of collected taxes. Also there is a limit on our total debt, on taxation and there is a minimum amount of money to be kept in reserves.
In each year projects are selected for construction from a list of projects in order of priority using the sum of money that falls within all constraints.