Adoption of 2024 Investment Plans

Nov 21, 2023

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

Investments in the three funds combined total $9.6 million. As always, most of the proposed investments are conditional on obtaining federal/provincial grants and the approval of loan applications.

For 2024, a large part of the proposed investments is aimed at updating ageing municipal equipment and infrastructure, including major underground infrastructure renewal projects. "When it comes to investments, City Council has to make decisions that are both strategic and reasonable. In recent years, we have had to focus on replacing ageing assets scattered across throughout the city and on projects that strengthen our position in terms of sustainable development," explained Mayor Éric Marquis.

The proposed investments are broken down as follows:

- General operations fund: $6,309,700

- Water and sewer utility fund: $1,571,500

- Energy Utilities Fund: $1,805,000

Targeted investments include $1.5 million to continue separating outdated combined water and sewer systems in the Edmundston East sector, and the purchase of heavy equipment at an estimated cost of $386,895 for the road sector.

Funds have been earmarked for actions that could result from the hydraulic study underway in the Saint-Jacques sector. Funds have also been set aside for the preparation of the first stages of the master plan for the Petit-Sault Civic Park, still subject to grant approval, for the Urban planning and Recreation and Sports departments. An amount has also been set aside for the purchase of Christmas decorations for the Rivière-Verte sector.

Despite proposed investments of over $9 million, the city will only need to borrow $2.44 million for the general operating fund, $200,000 for the water and sewer utility fund, and $255,000 for the energy utility fund, enabling debt to be managed effectively and sustainably.

As the terms and conditions of the Community Futures Fund of Canada (formerly known as the Gas Tax Fund) are not yet known, no source of subsidy at this level has been provided for in the adopted investment plan, but adjustments may be made over the coming months.

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