City Stamp Will Start Gas Tax Refund Rolling
By 250 News
Sunday, November 06, 2005 09:50 AM
Prince George City Council will be asked to give its seal of approval Monday night to the gas tax deal inked in September by the federal government, the province, and Union of B.C. Municipalities.
In recommending approval, City Manager, George Paul, says, "This agreement is the final link in the process of transferring federal gas tax revenues to municipalities under the "New Deal for Cities and Communities"."
The tri-party pact will see 635.6-million dollars flow into the province over a five-year period. The U.B.C.M. will disburse the funds to municipal governments, with the allocations derived from a base-funding amount and population-based amount.
The City of Prince George's portion is, as follows:
2005/06 $918,051.74
2006/07 $917,345.09 (per capita amount estimated)
2007/08 $1,229,391.44 (per capita amount estimated)
2008/09 $1,540,321.11 (per capita amount estimated)
2009/10 $3,177,107.89 (per capita amount estimated)
The first disbursement is expected to roll in sometime this month or next. Prince George Council will be bound by the agreement to spend the money on infrastructure projects that fall into one of five categories: public transit, community energy systems, water and wastewater, solid waste management, and capacity building.
While anxiously anticipating the revenues over the past several months, Councillors have avoided earmarking the money for any specific project, waiting to see the final dollar figure and specifics of the agreement.
A replacement for the aging Cameron Street Bridge, pegged at approximately 22-million dollars, would not be an eligible for funding. (see Opinion250 View)
(for full agreement details, go to the U.B.C.M.'s website at www.civicnet.bc.ca and select "Community Works Fund Agreement" under the "New Document" tab)
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Posted by: Chase on November 6 2005 9:05 PM
It frustrates me to hear of all the ways we can spend this money, even before we receive it. Whenever an election is on the horizon, those wanting to buy their way into a job seem to feel a freedom to promise the moon to the electorate. Everyone who steps forward wants something. They don't care how we are to pay for it or if we can afford it. They ignore the fact that we are already carrying a huge debt load.
Wake up folks. Who do you think is on the hook to pay for all of this stuff?
Humour me for just a moment. Let's just pretend that we are going to manage the finances of this city much the same way that a responsible, accountable financial management company would. What would they suggest to an organization who is burdened by debt like our city?
Stop borrowing. Cut back on your spending so you are spending much less than you are receiving. Take the surplus and pay down your debts first. Accumulate the necessary capital first before embarking on more spending.
Only then will you be in any position to consider public transit, community energy systems, water and wastewater, solid waste management and capacity building.
Doesn't anyone understand Fiscal Responsibility? Financial Management? Accountability?
Debt is a huge burden controled by the bankers. I recall a little book I read 25 years ago called, "Billions for the Bankers, Debts for the People". I have never forgot who is in control. Chester