It may only be July but Yorkton Council has already passed its 2013 Capital Budget with a unanimous vote at its regular meeting Monday.
City Director of Finance Lonnie Kaal said the budget includes an increase in capital expenditures including a 2.5 per cent tax increase that was part of the five year Drainage Pond Plan.
"We've also directed any growth (expected at 2.5 per cent) toward the Capital Budget as well," she said.
As a result the capital expenditures for 2013 will be $3,611,000, which Kaal noted is almost exactly three times the level invested seven years ago.
Even with the increase demand is growing for more.
The 2014 to 2017 Capital plan includes projects requiring more than the $6,000,000 in each of the succeeding years when there is only $3,000,000 available.
"While it's still not enough, we're definitely making progress in that regard," she said.
"All municipalities are facing pressure regarding old infrastructure and needing to find dollars to maintain their assets. Yorkton has made good progress in targeting dollars to capital improvements," detailed material circulated to Council.
In terms of capital, debt payments are the same as last year, and the proposed allocations to reserves of $625,000 should continue, in spite of the added capital requirements.
Kaal noted in her report, "additional debt is not planned for 2013 other than some internal financing for the drainage project. Principal debt reductions of some 2.5 million will be made city wide
"The City is well within its debt limit of $42,000,000 and could borrow $13,000,000 if required."
The largest capital project for 2013 continues to be the drainage projects (requiring $1,130,000) for the almost $8,000,000 being spent from 2011 to 2016, stated the report. Funds available for other capital projects are $1,856,000 compared to $1,579,000 in 2012.
Other major expenditures include $670,000 for a new fire truck, which Fire Chief Dean Clark said was needed to replace an existing engine which has issues in terms of reliability after two major refurbishing in 1991 and 2002.
"This new truck will be our lead truck," he said.
Broadway Street from Eighth Avenue to the CN tracks will be recapped in 2013 at a cost of $700,000, explained Trent Mandzuk Director of Public Works. He explained the existing asphalt will be removed and new laid down, adding the underground water and sewer lines will be assessed and replaced if needed at the same time.
Other expenditures in the budget include $130,000 for a new Abilities bus, and bus shelter replacement, $550,000 for work at the Yorkton Municipal Airport, and $300,000 for a handicap accessible play structure at Weinmaster Park.
The 2013 Capital budget adopted included federal grants of $905,285, debt payments of $1,800,045, reserve allocations of $625,000 and total new capital projects of $6,175,000.
