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February 07, 2014


Jim Moorhead

I feel before Council considers spending any funds on any supplemental item, they should ensure an Infrastructure Contingency Fund is started and funded each year based on at least a 1% to 2% of the overall city budget being spent. Ageing and decaying infrastructure is one of the biggest challenge facing all municipalities across Canada. We have to be prepared for the increasing high costs of repairs and 'save to reduce' the cost of borrowing for such repairs. In a normal household budget, it is recommended by any financial planner to ensure one maintains a 'emergency fund'. So let's apply this principal in the city. I will admit that this comment is based on the fact that I have not seen or heard of such a fund in previous city's budget meetings or documents.I wonder how Council members feel about this and of course our Kamloops citizens?

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