Sunday, March 10, 2013

Selected article - Morning Star News.

What was not reported is the fact that staff recommended an additional $2 million for “Master Plan Capital”. My motion, seconded by Director Spiers, was to fund that $2 M from reserves and it was approved by the majority of Directors.

Here are the reasons:

    we do not have an approved Master Water Plan;
    the $35 M approved by referendum cost $13.6 M so far in repayment:
    collected over $42 M in additional capital to date for an unknown MWP;
    hard to follow the capital expenditures without a plan;
    annual capital requisitioned for MWP could finance the project if borrowed;
    borrowed capital could complete whatever final plan approved in a short time;
    borrowed money spreads costs over a 20-year period (like a mortgage);
    payments are reduced as population grows.

I have no trouble approving legitimate infrastructure costs. So far I question a number of projects on which hard earned taxpayers’ dollars were spent. If one does not know which direction the new plan will proceed it is hard to judge if a particular project is warranted. My intentions are to ensure that the most cost effective plan is developed. To date I have my doubts.


1 comment:

Anonymous said...

Thanks for taking this file on Gyula.

It's all Greek to many I'm sure.

Coldstream Ratepayers News! All Coldstream residents are ratepayers!

The opinions expressed by "Coldstreamer" are strictly his own and do not represent the opinions of Coldstream Council!

Because I value your thoughtful opinions, I encourage you to add a comment to this discussion. Don't be offended if I edit your comments for clarity or to keep out questionable matters, however, and I may even delete off-topic comments.

Gyula Kiss;


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About Me

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I have been a resident of Coldstream since 1976. I have had 15 years of experience on Council, 3 years as Mayor. As a current Councillor I am working to achieve fair water and sewer rates and to ensure that taxpayers get fair treatment. The current direction regarding water supply is unsustainable and I am doing all I can to get the most cost effective water supply possible.