Council gives final approval to equipment reserve budget

Lisa
Lisa Goudy
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Moose Jaw city hall is pictured.

Following a 20-minute debate, the majority of council approved the equipment reserve budget with no changes.

The discussion centred around the interest stabilization reserve, which makes up the difference between interest on funding set aside for equipment replacement and interest earnings generated in the equipment reserve budget.

Coun. Brian Swanson said the city is spending more money on equipment than money coming into the reserve. Equipment, he said, is an asset of the city and some other assets are being ignored.

He made a motion to refer the budget back to city administration to prepare a report to budget committee with options for reducing the 2014 equipment reserve budget purchases by $400,000.

The referral motion was defeated in a vote of 4-3. Instead, council approved the budget as presented.

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