City of Powell River Council has amended its reserve funds policy.
At the June 22 city council meeting, councillors considered two updates to the policy. The first was adding the growing communities reserve fund. According to a report from chief administrative officer Mallory Denniston, on March 31, the city received $4.2 million from the provincial growing communities fund, which must be transferred to a dedicated reserve fund. On April 27, a budget amendment to transfer the $4.2 million into a newly created reserve fund was approved.
At the meeting, the addition of the growing communities fund reserve was added to the policy.
The policy was also amended to rename the climate action revenue incentive program as the local government climate action program.
The amendment is to reflect the provincial government renaming the program.
