The Recent infusion of nearly half a million dollars in Fair Share funds into the District of Tumbler Ridge?s budget has meant some changes to the budget.
The District is receiving nearly $465,000 in new Fair Share funding. Extra money means extra spending, and the biggest change to the District?s expenditures is an extra $294,470 into the Road Work line item, more than doubling the amount the District is spending on roadwork this year. ?This increase is to allow for the paving of Willow,? says Nigel Black, Chief Administration Officer for the district.
Willow wasn?t slated to be paved this year, says Black, but it emerged this spring as one of the roads that needed the most work. Black says before the Fair Share funds came available, the district tried to exchange Willow with another road scheduled this year, but due to the structure of the grants used to fund the roadwork, were unable to. The Fair Share funds arrived at the perfect time.
The second largest line item change to the budget is $121,650, earmarked for the Museum Committee. Black says there?s a good chance that none of this money will actually be given to the museum committee.
As part of the recently announced Western Economic Diversification?s Softwood Lumber Industry Community Economic Adjustment Initiative (SICEAI) grant, the museum foundation is required to raise matching funds for the $163,650 grant. The District has set aside this money as a contingency fund. ?The museum may need some of it, they may need none of it, or they may need all of it,? says Black, ?it depends on how well their fundraising efforts go.?
Finally, says Black, an extra $10,000 has been allocated to repair a retaining wall between the Roman Walkway and the Community Centre. ?It?s wood, and it?s rotting away. It was just something we hadn?t taken into account when we first did the budget.?
The only other major change to the budget is a revision to the estimated taxation. Now that the property assessments are in, says Black, he?s realized the District will be collecting about $100,000 less in taxes this year than originally thought.