Yorkton Council approved the City Five-Year Capital Plan – March 2018 as presented to meet the terms of the Municipal Gas Tax Fund Agreement at its regular meeting Monday.
The City of Yorkton has been receiving annual funding from the Gas Tax Fund since the 2006 fiscal year, explained Fred Schrader, Asst. Director of Finance with the City.
This funding has been used on projects such as the Highway #9 Improvements (2006 – 2007), Street Light Improvements (2008 – 2009 – 2010), Broadway and Bradbrooke Reconstruction (2011 – 2012 – 2013) and Storm Water Management Project, Drainage Ponds, (2014 – 2015 – 2016 – 2017 – 2018).
“We receive approximately $950,000 annually from this Federal grant which goes toward the Capital Budget,” said Schrader.
“Under the Municipal Gas Tax Fund Agreement (MGTFA), that has been signed and approved by the City of Yorkton, we are required to provide the Province with a five-year Capital Plan, beginning in 2015 and continuing on an annual basis. This five-year Capital Plan is due annually on March 31st. Also, per the MGTFA, the Capital Plan must be approved by the Municipal Council,” detailed a report circulated to Council.
“As this is only a general plan to meet the requirements of the MGTFA it is not exactly the same as the 2018 Capital Budget. Administration will continue to revise the five-year Capital Plan on an annual basis as priorities and costs are determined, and present it to Council for approval thereafter.”
