Title
Hasse Lake Washroom Insurance Claim
Proposed Motion
That Council approve the transfer of $34,838.50 from the Hasse Lake Washroom insurance claim to Restricted Surplus - Municipal Parks.
Body
Administration Recommendation
Administration supports the proposed motion.
Purpose
Administration requires Council approval to transfer these funds in Restricted Surplus.
Summary
In April 2016, one of the washrooms at Hasse Lake was destroyed by a fire and an insurance claim was filed. Due to the uncertainty of future development plans at Hasse Lake, Administration deemed it was appropriate to receive a cash settlement for the washroom. The current cost to replace the washroom is $53,118. After depreciation is taken into consideration along with the deductible and the costs associated with the clean-up of the site, the remaining amount is $34,838.50. Administration is recommending that this amount be transferred into the Restricted Surplus - Municipal Parks to be used for future park improvements.
Strategic Plan/Policy/Legal/Staff Implications:
Complete Communities
1.1 We offer a range of lifestyle choices, community services and other amenities to meet community needs.
1.2 We are a region of connected communities through infrastructure, recreation facilities, trails and technology
Financial Impact:
Cost: $34,838.50
Source of Funding: Insurance Claim