2018-2022 Financial Plan

FINANCIAL PLAN OVERVIEW

Fire Department Capital Acquisition Reserve Each year a portion of general taxation is transferred to the reserve to build the financial capacity required to respond to increasing the fire protection capacity needed as the community grows. The project to construct Fire Hall No. 4 is now in the early stages and this reserve will be used to repay the associated debt. The planned capital expenditures are detailed in the following table:

Fire Department Capital Acquisition Reserve Projection

$ in thousands

2018

2019

2020

2021

2022

Opening Balance

7,168

7,388

8,437

9,628

10,965

Inflows Growth Funding

280

330

380

430

480

GRF Annual Transfer

1,433

1,519

1,611

1,708

1,811

Outflows Planned Capital Expenditures

(692)

-

-

-

-

Debt Repayments (Firehall 4)

(800)

(800)

(800)

(800)

(800)

Estimated Ending Balance

7,388

8,437

9,628

10,965

12,456

Fire Department Equipment Replacement Reserve The recognition of an appropriate level of funding to provide for growth would not be complete without a discussion around how we intend to replace those assets. Replacement of fire equipment is funded through this reserve. Beginning in 2009, infrastructure sustainability funds have been allocated to this reserve.

Fire Department Equipment Replacement Reserve Projection

$ in thousands

2018

2019

2020

2021

2022

Opening Balance

618

465

1,289

2,234

3,301

Inflows GRF Annual Transfer

752

825

944

1,067

1,194

Outflows Planned Capital Expenditures

(905)

-

-

-

-

Estimated Ending Balance

465

1,289

2,234

3,301

4,495

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