Adoption of 2023 investment plans

Nov 22, 2022

The Edmundston City Council has just adopted, during a public meeting, the investment plans for the general operations fund as well as the water and sewer and energy utility funds.

Investments in the three funds combined total $8.08 million. As always, most of the proposed investments are conditional on federal/provincial grants and loan approvals.

For 2023, the proposed investments are primarily aimed at updating aging municipal equipment and infrastructure, including underground infrastructure renewal projects. "When it comes to investments, the decisions that are taken by council must be strategic and reasonable. For the past few years, we have had to focus on aging assets spread out throughout the city and on projects that strengthen our position in terms of sustainable development," explained Mayor Éric Marquis.

The proposed investments are distributed as follows:

• General Operating Fund:           $5,285,500
• Water and Sewer Utility Fund:   $1,532,600
• Energy Utilities Fund:                 $1,262,000

The proposed investments include $1.7 million for the renewal of combined water and sewer systems in the Edmundston East sector and the purchase of a loader at an estimated cost of $400,000 in the road maintenance sector of the Public Works Department.

Funds are also provided for the rehabilitation of the old Skate Plaza following a request for financial assistance under the Natural Infrastructure Program in 2022, still subject to grant approval, for the Recreation and Sports Department.

Despite the proposed investments of over $8 million, borrowing of just $2 million will be required for the general operating fund; $150,000 for the water and sewer utility fund; and $425,000 for the energy utility fund, allowing for efficient and sustainable debt management.

Finally, it should be noted that the investments presented are for the current territory of the City of Edmundston, and do not include the investments for the sectors of Rivière-Verte and the LSDs of Saint-Jacques and Saint-Joseph. These had to be done 'individually' this year due to municipal restructuring, which means that each community will be responsible for its respective debt for 2023.

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CONTACT: Mr. Eric Marquis, Mayor, 506.739.2115, eric.marquis@edmundston.ca