By Mark Squibb / June 29, 2023
Mount Pearl City council earlier this month approved a number of project closures and fund reallocations.
"The Committee was advised that in 2021, funds were transferred out from the 2012-2014 Multi-Year Capital Works (MYCW) Funding Programs, and into the 2017-2020 Funding Program," explained councillor Isabelle Fry during the June 13 public meeting. "Of the funds transferred, a balance remains. So, the City has been advised by the Province that those remaining funds must be spent this year, and that the funds cannot be transferred into future programs."
Council voted to close all completed projects funded in the 2017-2020 MYCW program, and transfer $1,576,991 (HST included) of leftover funds into two new projects: Surface Course Asphalt, Partial Sidewalk Replacement and Sewer Manhole Adjustments Olympic Drive ($1,256,991) and Birch Avenue Water Line Loop and Sanitary Trunk Re-alignment ($320,000).
Council also voted to close all projects that were completed using 2014-2017 MYCW funding and transfer the remaining funds ($128,468, HST included) to the Pedestrian Underpass Assessments project, which was within the 2014-2017 project listing.
"So, in a nutshell, the 2014-2017 multi-year capital program is coming to an end once we spend the $128,000 on the underpass," said Mayor Dave Aker. "Also, for 2017 to 2020, we have created a final project. Part one is the Olympic Drive area part and part two is Birch Avenue."
Councillor Bill Antle asked whether any money would be returned to the Province and also whether the City would likely save money down the road by transferring the funds into new projects now.
Councillor Fry said it was a matter of reallocating funding to projects that were not on "this year's project bucket list."
Assistant Manager of Engineering Services Darryl Drover explained further that $450,000 worth of funds being transferred to the Olympic Drive project date back to 2012.
Aker allowed that no money will be returned and that all monies from 2014-2017 and 2017-2020 funding pools would now be accounted for.
"The essence is we're closing '14-‘17 and we're about to close '17-'20," said Aker.
"I believe these are funds that were saved from previous allocations, and so there are a few extra dollars left over," clarified Fry further. "And with that money that we saved we're able to do another project on our bucket list."
Councillor Jim Locke took a moment to applaud the motion, which passed unanimously.
