Coldstream’s council meeting on Monday, Aug. 14 brought about several discussion points, chief among them a financial update to the 2023 year.
Financial update
Council was provided with a financial update of the 2023 year, as of June 30.
An operations budget, projected to be at a $1,234,154 surplus, was blown past already this year, by 706 per cent ($8,720,068). Chiefly, Coldstream was given more than $4 million in confidential grants, much higher than the $1.4 million budgeted for it.
In the capital projects financial section, a budget of $2,228,000 has been set for road resurfacing, but just $16,030 of it has been spent so far.
Only $508 of the $10,000 budgeted towards bike and pedestrian path assessment has been utilized.
In total, $2,507,455 has been spent on capital projects, to a budget of $9,214,787 so far this year.
Buildings
Construction value is up so far this year in Coldstream, by a massive margin. Despite increasing the housing units by only one, the value of the developments are at $8,865,712, up from just $1,450,000 a year ago.
The total construction value for the first seven months of 2023 is $44,720,838, compared to $32,875,351 for all of 2022.
New Kal Beach pier
Council has awarded the reconstruction of the pier at Kalamalka Beach to Burton Marine Pile Driving for $516,416. Construction is expected to take place in the spring of 2024.
New Vernon Fire Rescue agreement
The approval of a new Hazardous Materials Response Agreement was consummated between Vernon and Coldstream. This agreement allows Vernon Fire Rescue Services to provide an ammonia/chlorine/sulphur dioxide hazardous materials response for Coldstream for a four year period, until Aug. 14, 2028.
The full council meeting minutes can be found at coldstream.ca.
READ MORE: Questions dive into Vernon recreation funding dilemma
READ MORE: Algae bloom warnings continue for North Okanagan water customers
@B0B0Assman
bowen.assman@vernonmorningstar.com
Like us on Facebook and follow us on Twitter and subscribe to our daily and subscribe to our daily newsletter.
