COUNCIL NOTES: More funding for Holiday Square on the agenda

An annual report on the city’s finances, an update to the city’s asset management plan, a request for more funding for Celebration Square and more are all on the council’s agenda for the regular meeting set for Tuesday night at 7 p.m. in the Winter in Bradford. West Gwillimbury Public Library.

Audited 2023 financials

A report by auditor Baker Tilley on Bradford’s audited financial statements for 2023 shows the city had a tax surplus of $1.17 million, of which staff recommends transferring $1.11 million to the reserve fund and 56,180 dollars to the general fund.

After user fees, government transfers and reserve transfers, the city’s operating revenue for 2023 was $79.43 million, while city expenditures were $85.01 million, which should have left a deficit of about $5.58 million, but additional income from capital assets, taxes and investments. revenues provided an additional $21.29 million, leaving the city with an annual surplus of approximately $15.71 million.

While the city began 2023 with a cash position of $9.74 million, long-term debt repayment fell to $6.34 million at the end of the year, and about $8.42 million in revenue went directly into funds Reserve.

The city increased total reserves and reserve funds by $9.61 million to nearly $75.36 million at the end of 2023, compared to $65.74 million at the end of 2022.

In total, the city’s tangible assets and funds were valued at $518.18 million.

Asset management plan update

A report from Matthew Simurda, the city’s project manager or asset management, provides an update on the city’s asset management plan for non-essential assets under the provincial Infrastructure for Jobs and Prosperity Act.

Unlike core assets, which include roads, bridges, water infrastructure, sewers, and stormwater, secondary assets include facilities, parks, vehicles, and equipment.

The plan describes the features and condition of the infrastructure, what is expected of it, how long it is expected to last and what is required to maintain it.

As of 2023, the city had 255 assets in a category ranging from small equipment to heavy vehicles with an average age of five to 16 years and an estimated replacement cost of $34.5 million.

On average, these assets were estimated to have around 45% of their useful life remaining.

According to the report, 100 percent of maintenance inspections were completed in 2023, with 97 percent of assets in fair or better condition.

The report lists the city as having 35 facilities with an average age of 22 years and an estimated replacement cost of $225.2 million, including:

• community centers — six
• emergency services — two
• municipal buildings — three
• operational facilities — 11
• sports facilities — two
• other facilities – 11

The condition was not included for facilities because the city has not completed facility condition assessments in recent years, but average annual life cycle costs are estimated at $4.73 million.

According to the report, the city’s 27 parks include 535 assets with an average age of 10 years and an estimated replacement cost of $34.88 million, including:

• ball diamonds — eight
• exterior lighting — 109
• playgrounds – 45
• skateboard parks — three
• splash pads — five
• sports fields – 20
• sports fields – 16
• others – 329

On average, these assets were estimated to have approximately 55% of their remaining useful lives, and average annual life cycle costs are estimated at $1.59 million.

The update comes just two weeks after Ian Goodfellow, the city’s chief financial officer and treasurer, explained that Bradford had made “great progress” and was “doing a very good job” of investing funds to cover the eventual cost of replacing the city’s assets .

Celebration Square needs an additional $370,000

A report by Community Services Director Terry Foran asks council to authorize an additional $305,000 in construction cost to fund the creation of Celebration Square and to award the base bid to the selected vendor, Hawkins Contracting.

During the 2024 budget deliberations, the council approved $2.9 million for the project, which seeks to take the roughly 6,000-square-foot open lawn directly west of the Bradford West Gwillimbury Public Library and turn it into a permanent public plaza and a event space including:

• covering the lawn with brushed concrete
• an open central area
• an event stage
• marked concrete walkways
• places throughout the year
• additional tree plantings
• additional gardens

However, Hawkins’ lowest bid came in at about $2.99 ​​million after sales tax, and in addition to design, consulting and other fees, the cost is expected to be $3.21 million. dollars according to the report.

In addition, Foran is asking the council to approve another $65,000 in additional funding, including $30,000 to add wood veneer over the concrete seating walls and $35,000 to add four permanently installed tables with chairs and umbrellas, all made of durable metal and synthetic materials. .

In all, the total cost of the new project is expected to be $3.27 million, and to pay the $370,000 difference, Foran is asking the council to approve $333,000 from municipal development tax reserves and $37,000 from capital expenditure reserves.