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City setting funds aside to replace WFP roof
Also boosting spending on Canada Day celebration
The City of Cranbrook intends to replace the roof of Western Financial Place (WFP).
In a special meeting of council Jan. 31, city council voted to make three changes to the Five-Year-Financial Plan (2017-2021), including funding a portion of the replacement of WFP’s roof ($535,000) from the city’s Library Building Reserve.
“After the 2016 year-end adjustments are posted, it is anticipated that the balance in the reserve will be approximately $1,011,000. The draw of $535,000 in 2017 will leave a balance of $476,000,” reported Charlotte Osborne, city Director of Finance and Computer Services.
The city intends to set aside $3 million the next two years to cover the costs of the roof replacement.
Council also voted to add $15,000 to Special Events in the city budget for expanded Canada Day celebrations in honour of Canada’s 150th anniversary of confederation.
It also voted to boost grants to organizations by $19,021 in 2017, to $243,981, with funds coming from the city’s General Fund Accumulated Surplus account.
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