Yesterday at Council in an unanimous vote $787,483 was placed in to the Police Reserve representing the 2007 Police operating surplus. The funds will come out of the Casino reserve in 2008 so as to "that the RCMP reserve funds transferred for the Middleton Road project be rectified. "
There will be a Special Committee of the Whole meeting of Council, Friday, May 16, 2008, at 9:00 am discuss the draft Interim Reserve Policy.
Coun. Beardsell the main proponent of reserve rationalization proposed deferring the meeting for 1 week as he could not attend. As this would preclude two other councillors from attending due to a conference they would be attending the date and time remains the same.
A simple change to a Thursday date this week (*at finance committee meeting perhaps)would have seemed to be a solution where the council could have the proper attendees at this crucial meeting. Another opportunity missed with the results that anything decided by the Council at the Friday meeting will be dissected by Coun. Beardsell when he gets the full report of any important reserve changes that were made.
*May 15, Thursday: Finance Committee 1:00 pm Kalamalka Lake Room
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The expected balance at 2008 year end for these two reserves (before any operating surpluses or revenue) now will be:
RCMP reserve will increase from $61,607 to $849,090.
Casino Reserve will decrease from $1,108,002 to $320,519.
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