Inflation felt as City tops-up this year’s projects with another $535K

Adaptive transit bus, firehall storage, shade sail structures at parks, among projects requiring more dollars. 

City council agreed to add more money towards this year’s capital budget to help meet the increasing costs that they’re seeing in order to complete projects.

This funding comes to the tune of $535,000, money from the city’s unrestricted surplus reserves.

“Most of them are all related to inflation,” mayor Craig Copeland told Lakeland Connect.

“A good example of that is the adaptive bus, the handibus. The price of those things keep on rising huge and so we need some more money for that. I think it was like $70,000 more for that I think.” 

Administration presented to city council on Tuesday night a list of eight projects that are looking for “top-up” dollars.

Among them is a temporary fire hall for storage for an additional $200,000, the Cold Lake Adaptive Transit Service (CLATS) Bus for another $71,000, the building of a basketball and multi-purpose court near the Portage building outside at the Energy Centre at an additional $50,000.

Other items include improvements for the Cold Lake Aeros’ space at the Energy Centre at $45,000, fencing at the Cold Lake Airport for security at $45,000, shade sail structures at Lions Park and Imperial Park at $40,000, a new score clock at the Cold Lake North Arena at $20,000, and a firehall feasibility study for $14,000.

These are figures are added on to the budgets that have already been allocated in the recent 2023 budget, or in budgets from year’s past.

“There’s these little projects, these one offs as we call them, where they’ve gone out for bids, and we’ve needed to top up the money. So that’s kind of what that extra funding was,” said Copeland. 

‘I don’t have any concerns’

The total budgeted for this projects initially was $905,000 according to city notes, with no budget for the Aeros’ room, North Arena score clock, and airport fencing.

In response to a question from councillor Vicky Lefebvre, CAO Kevin Nagoya said the City currently has upwards of $10 million in unrestricted reserves at the moment.

“You did get some revenue already from this year in regards to the ID349. Some of the issues have been resolved and also part settlement from the PILT (Payment in lieu of Taxes) that was provided by the Government of Canada, so there is a various funding to be able to take care of this. I don’t have any concerns,” Nagoya said during the meeting.

Council passed the motion unanimously.

The total 2023 Capital Budget summary can be read here.