YORKTON - At its regular meeting Monday Yorkton Council approved the city’s Five Year Capital Plan.
Under its Municipal Gas Tax Fund Agreement (MGTFA), which has been signed and approved by the city, the city is required to provide the province with a five-year capital plan, updated annually, explained Ashley Stradeski – Director of Finance with the city Monday.
The plan is a general guideline in order to meet the requirements of the MGTFA.
Stradeski said the plan is far from set in stone.
Facility priorities and asset management plans evolve, so, too, will the capital plan, he said.
The plan has not undergone the capital budget process; rather, it is a listing of optional potential projects that could be proposed over the next five years and is not inclusive of all potential projects which could arise through our regular capital budgeting process. The purpose of this is to identify to the province that the city is planning ahead, identifying project needs in advance and taking appropriate steps to achieve long-term goals and funding requirements.
The plan does list projects totalling $152,085,000.
Administration will continue to update the five-year plan as priorities and costs are determined, and present to council for approval each year.
