The City of Colwood has been recognized with an Award for Excellence in Government Finance for the Sustainable Infrastructure Replacement Plan.
Colwood staff earned top marks for their innovative approach to improving the public’s financial awareness through the exceptionally well implemented financial practices documented in the plan.
The Sustainable Infrastructure Replacement Plan provides Council and the public with a clear and comprehensive outline of all City infrastructure – roads, parks, natural assets, sewer and storm systems, buildings and vehicles – along with the annual costs to keep it all in good working order.
The award recognizes the City’s proactive approach to ensuring funding is in place for the future maintenance and repair of these assets so that residents are not hit with sudden tax increases due to unanticipated infrastructure breakdown.
The plan demonstrates excellence in financial practices by creating stable and predictable tax rates, avoiding added debt servicing costs, taking advantage of investment returns, and supporting the community's resilience to change.
“Council is extremely proud of our award-winning staff who consistently go above and beyond to implement forward-thinking financial practices,” said Colwood Mayor Rob Martin. “The clear and creative presentation of complex financial information makes it easy for residents to learn about and provide input into the responsible management of tax dollars in our community.”
Colwood's Sustainable Infrastructure Replacement Plan was written by Christopher Paine, Director of Finance with support from all City departments. Pictured here are Sandra Russell, Communications Manager; Nikii Hoglund, Director of Engineering and Public Works; Christopher Paine, Director of Finance; and Helen Lockhart, Engineer.
Colwood staff were also recently recognized with an award for Distiguished Budget Presentation.
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Sandra Russell, Communications Manager