At present, police can keep part of a surplus to deposit in the fiscal stabilization reserve, but have to return the rest to the city.
recommends taking a portion of future year-end surpluses from the operating budget to contribute to a capital reserve.We deliver the local news you need in these turbulent times on weekdays at 3 p.m.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
At present, police may keep a portion of a surplus to contribute to the police fiscal stabilization reserve, but must return the rest to the city.Article content “Changing our capital fund policy to allow for a portion of the surplus to be moved to the fund will allow SPS to better manage pressures from unforeseen capital expenses,” the report states.. They cited “restrained” expenditures in both 2021 and 2020 due to the COVID-19 pandemic, which led to cost savings for expenses other than staff-related ones, such as for travel and training. Revenues were also higher than expected.
Police have four primary capital reserves: equipment and technology, radio, general capital and renovations. The latter three are expected to be sufficiently funded for every year projected, from 2023 to 2027.
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