#reserves

C
City of Rossland

How should Rossland manage taxpayer reserves?

🏛️ Council is updating the city's financial reserve policy

This policy determines how much money the city keeps in different savings accounts for emergencies, infrastructure repairs, and future projects. The updated rules will guide how your tax dollars are managed and saved for years to come.

  • 💰 Municipal reserves are like the city's savings accounts for specific purposes

  • 🚨 Emergency reserves help avoid tax spikes during unexpected crises or repairs

  • 🏗️ Infrastructure reserves fund major projects like road repairs and facility upgrades

  • 📊 Policy sets minimum balance targets to ensure long-term financial stability

  • 🎯 Updated policy reflects current operational needs and 2024 financial position

  • 📋 Reserve balance targets updated based on December 2024 audited financials

  • 🔧 Policy language clarified to better define reserve purposes and usage

  • 🌱 New emphasis on climate action and renewable energy commitments

  • 💼 Asset management planning integrated into reserve strategy

  • ⚖️ All changes maintain compliance with provincial legislation requirements

Multiple reserve funds with varying balance requirements
The city maintains multiple reserve funds with specific minimum balance targets to ensure fiscal stability and avoid sudden tax increases when major expenses arise.

How should the city balance financial reserves?

📅 Council Meeting: Monday, October 20, 2025 Location: Rossland Council Chambers - 1920 Third Avenue

The meeting will be held immediately following the Public Hearing.

#finance#policy#municipal#reserves#budget#council
Oct 20, 2025