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| Coun. Brian Swanson shares his views on the equipment reserve budget at the March 24, 2014 council meeting. Times-Herald photo by Lisa Goudy |
The equipment reserve budget was subject to much debate at council.
Following the 20-minute debate, the majority of council approved the equipment reserve budget with no changes.
The discussion centred around the interest
stabilization reserve, which makes up the difference between interest on
funding set aside for equipment replacement and interest earnings
generated in the equipment reserve budget.
Coun. Brian Swanson made a motion to refer the
budget back to city administration to prepare a report to budget
committee with options for reducing the 2014 equipment reserve budget
purchases by $400,000.
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