The City of Colwood’s Sustainable Infrastructure Replacement Plan has earned the city an Award of Excellence in government finance.
The city and city staff’s innovative approach to improving the public’s financial awareness through its financial practices documented in the plan earned it top marks.
The Sustainable Infrastructure Replacement Plan provides Colwood council and the public with a with a comprehensive outline of city infrastructure like roads, parks, natural assets, sewer and storm systems, buildings and vehicles. It also provides an outline of the annual costs to keep infrastructure in working order.
“Council is extremely proud of our award-winning staff who consistently go above and beyond to implement outstanding, 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.”
The plan creates stable and predictable tax rates, avoids added debt servicing costs, takes advantage of investment returns and supports the community’s resilience to change.
The Sustainable Infrastructure Replacement Plan was written by director of finance Christopher Paine with support from all city departments.