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| City Council wrapped up their work on the 2018 Financial Plan and Budget process on Thursday with a short session in Council chambers |
The process of setting this years property tax collection mechanism in motion took Prince Rupert City Council less than two minutes on Thursday evening
The final move coming with the city's elected officials holding a Special Council Session at 5 PM, providing for their final approval to the Five year Financial Plan and 2018 Budget program.
The City's Financial Office Corinne Bomben had but one change for Council to sign off on when it comes to the Financial plan that was presented last month for Council's final review, that being a decision to put off the purchase of a new Garbage Truck for the city for now.
As Ms. Bomben explained it, the city was unsuccessful in accessing some grant money for the purchase of the household waste disposal vehicle.
As a result, the Finance Department has taken the item off the budget list, a move which has resulted in a reduction in the capital purchase plans for the year ahead and the reduction of associated grant and short term debt financing requirements.
In her short report for Council, Ms. Bomben added that the City will continue to look for grant opportunities to assist in the purchase of the vehicle in the future.
The grant process, which was explained by the CFO in her Capital Spending plan preview from December of 2017, would have provided for 80 percent of the acquisition of the vehicle which also features the capacity for the city to shift to curb side pick up in the future.
With that one item removed from the Financial plan for the year ahead, Council members then provided their final vote on the process, moving the Financial Plan and Property Tax bylaw forward.
As a result, the Finance Department has taken the item off the budget list, a move which has resulted in a reduction in the capital purchase plans for the year ahead and the reduction of associated grant and short term debt financing requirements.
In her short report for Council, Ms. Bomben added that the City will continue to look for grant opportunities to assist in the purchase of the vehicle in the future.
The grant process, which was explained by the CFO in her Capital Spending plan preview from December of 2017, would have provided for 80 percent of the acquisition of the vehicle which also features the capacity for the city to shift to curb side pick up in the future.
With that one item removed from the Financial plan for the year ahead, Council members then provided their final vote on the process, moving the Financial Plan and Property Tax bylaw forward.
From their 2018 Budget planning there will be no increase to the tax rate for this year.
The Schedule for 2018 Property Tax Rates can be viewed below:
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| With final approval the Property Tax Rates for 2018 have been set (click to enlarge) |
More background to both the Five year Financial Plan and Property Tax Bylaws can be found from the Agenda Package for Thursday's Special Council Session.
The City's Financial Department will now prepare the property tax bills for this year.
If past precedent is followed, the financial cash call should be distributed to residents in late May or early June, with a payment deadline in the first week of July.
If past precedent is followed, the financial cash call should be distributed to residents in late May or early June, with a payment deadline in the first week of July.
With no other items on the Agenda and no concerns, comments or discussion on other items heard from the Council members in attendance the meeting came to an end at 5:02 PM.
For more items related to Prince Rupert's Financial themes see our Budget archive page here.
Council Discussion topics can be reviewed from our archive here.
Cross posted from the North Coast Review
Cross posted from the North Coast Review
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