HomeMy WebLinkAboutTR-20-85 CORPORATION OF THE TOWN OF NEWCASTLE
TREASURY DEPARTMENT K. CAMPBELL, C.A.,TREASURER
40 TEMPERANCE STREET TEL.(416) 623-3379
BOWMANVILLE, ONTARIO
L1C 3A6
REPORT TO THE GENERAL PURPOSE AND ADMINISTRATION COMMITTEE MEETING OF
APRIL 15, 1985
REPORT NO. : TR--20-85
SUBJECT: 1985 FIVE YEAR CAPITAL BUDGET (previously distributed)
RECOMMENDATION:
It is respectfully recommended that the General Purpose and
Administration Committee recommend to Council :
1. That this report be received, and
2. That the 1985 Five Year Capital Budget be approved as
presented.
BACKGROUND AND COMMENT
This document has been before Committee at an earlier meeting and was
referred back to staff for revisions. Today it is presented with a
five year project list which represents some major undertakings for the
municipality. The 1AR5 segment of this budget has alreadv been
approved. Therefore the plan visualized for the years 1986 to 1989
inclusive, requires Council ' s approval . Two projects of major
proportions are included in this plan for the future, being the
replacement of the Bowmanville Memorial Arena and the establishment of
an administrative centre for the municipality. Both projects are
subject to review and further consideration prior to their
commencement.
The administrative centre as proposed in the budget is to be a phased
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construction project over the years 1986 and 1987, with the actual
financing of the project to be determined. The optionsopen to the
municipality include long term bank loans, debentures and potentially
government grants.
The replacement of the Bowmanvil le Memorial Arena is now scheduled to
commence in 1987. This matter is presently the subject of a
feasibility study which should be finalized in mid-1985. Council ' s
committment to this project is 25% of the project cost to be levied
over a three year period. All other costs are to be paid through
grants and fundraising projects.
The program of road reconstruction sets out the areas which are seen to
be of priority at this time. As subsidy allocations, regular and
supplementary, are received each year the number of projects able to be
undertaken will be modified to fit our financial constraints.
The Fire Department will continue its program of updating and replacing
equipment. The renovation of the main station in Bowmanville is
proposed for commencement in 1988. The matter of a northern station
will be reviewed and considered over the next five years, with
recommendations to be brought forward when appropriate.
The requirements of the Community Services Department are principally
limited to replacements over the next five years, with the Bowmanvil le
Arena project taking precedence over all others.
As in any five year period the capital needs are greater than our
ability to meet them, but as each year is reviewed those items of
highest priority will be accomodated and the others left to another
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day. This budget is simply a proposed plan of attack for the next five
years, and not a list of expenditures to be approved.
Respectfully submitted ,
Kath A. Campbell , C.A. , B.Comm. ,
Treasurer.
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Attachment:*
*Copy of document distributed under separate cover.
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