Title
Ambulance Facility
Proposed Motion(s)
That Council approve funding of $719,256.47 from the Internal Financing Restricted Surplus for the construction costs incurred in 2013 for the Ambulance Facility.
Body
Administration Recommendation(s)
Administration supports the proposed motion.
Purpose
To request the use of restricted surplus to fund the expenses incurred during 2013 for the Ambulance Facility.
Summary
In 2012, Council approved a Capital Budget for the construction of the Ambulance Facility and the Debenture Borrowing By-Law 25-2012. During the 2014 budget process, it was determined that it was in Parkland County's best interest to internally finance the construction of the Ambulance Facility rather than debenture borrow. At the December 10, 2013 Council meeting, Council approved the 2014 Capital Budget which included the capital costs for the construction of the Ambulance Facility. Expenses were incurred in 2013 for the Ambulance Facility as it was anticipated that debenture draws were to occur and fund these expenditures. As these expenditures will now be funded by Restricted Surplus, administration is requesting that the 2013 expenditures be funded by the Internal Financing Restricted Surplus.
Strategic Plan/Policy/Legal/Staff Implications (As Required)
Governance Goal 1: Parkland County will be recognized as a well-led, well-managed municipality with a solid foundation of sound policies, good planning, responsive processes and effective decision-making that are focused on the responsible use of the resources entrusted to it and the long-term best interests of the community as a whole.
Financial Impact:
Cost: $719,256.47
Source of Funding: Restricted Surplus - Internal Financing
Other (As Required)