|
Five Year
Financial Plan 2002 - 2006 |
APPENDIX 25 SNOW REMOVAL
RESERVE |
CITY OF REVELSTOKE
FINANCIAL PLAN 2002 - 2006
|
|
SNOW REMOVAL RESERVE |
| |
Note |
2002 |
2003 |
2004 |
2005 |
2006 |
| Balance forward
January 1, 2002 |
|
$100,000 |
$105,000 |
$110,000 |
$115,000 |
$121,000 |
| Contribution
from General Operating |
|
0 |
0 |
0 |
0 |
0 |
| Interest earnings |
|
5,000 |
5,000 |
5,000 |
6,000 |
6,000 |
|
Balance at December 31,
2002 |
$105,000 |
$110,000 |
$115,000 |
$121,000 |
$127,000 |
|
| Note |
| In 1998 Council
approved an increase in the snow removal and sanding budget to a total of
$500,000 per year. This figure includes a "buffer" amount of $50,000 to be
transferred to the Snow Removal Reserve fund in the event that it is not
used and to provide for future extraordinary snow removal costs.
The Snow Removal Reserve Fund
therefore is an equalization account which is designed to maintain annual
costs at the $500,000 level. In estimating the future balances on this
reserve, therefore, it has been assumed that, after the year 2001, transfers
in and transfers out of the reserve will equate.
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