The Cariboo Regional District board passed an anticipation borrowing bylaw at its regular meeting March 27. (Angie Mindus photo - Williams Lake Tribune)

CRD passes borrowing bylaw due to uncertainty with COVID-19 pandemic

‘We are not in a position that we need to borrow anything right now’: CRD CFO

With uncertainty about the future as the COVID-19 pandemic unfolds the Cariboo Regional District board approved an anticipation borrowing bylaw at its last board meeting.

“This virus is impacting government operations at all levels and the economy in general,” chief financial officer Kevin Erickson told the board during the teleconference meeting March 27.

”We are not in a position that we need to borrow anything right now, but my concern is if the province cannot make payments in August.”

While the CRD is maintaining many of its operations, certain services have been ‘idled’ or significantly reduced, he noted.

Read more: Cariboo Regional District closes offices as COVID-19 precaution

“In order to deal with unknown circumstances that may arise from the COVID-19 pandemic the board is being asked to approve a Revenue Anticipation Bylaw allowing short-term borrowing of up to half the 2020 requisition amount of $ 13,000,000.00.

Quesnel Mayor Bob Simpson said the situation warranted a due diligence measure and proposed a letter to ministers asking whether tax deferral will be allowed.

Area D director Steve Forseth echoed Simpson adding, “we need clarity in terms of local government financing.”

Al Richmond, Area G director, also vice-chair of the Municipal Finance Authority (MFA) encouraged staff to contact the MFA to let them know the board passed the borrowing bylaw.

“Some regional districts and local governments are making the same kind of anticipation borrowing bylaw that we just passed,” Richmond said.

“Many local governments do that every year to get them through until tax revenue comes through in August, ours is just in case we don’t get that money in August,” he told the Tribune.

Read more: B.C. records first community death, but 70+ hospitalized COVID-19 patients have recovered



news@wltribune.com

Like us on Facebook and follow us on Twitter

Coronavirus

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Quesnel Gifting Group spreads positivity in community

The online gifting group has seen over 1000 members join in less then one week

North Cariboo Shop Local Campaign set to ramp up as businesses gradually reopen

“We got everybody together to get on the same page,” Quesnel Mayor Bob Simpson said.

Quesnel Pride Society receives $8,500 grant from Trans Care B.C.

The annual Pride Parade has been cancelled due to COVID-19, grant funds will supoort future projects

City of Quesnel answers questions about the gold pan

The decision to relocate the gold pan has some Quesnel residents upset

11 new COVID-19 cases in B.C. as top doc urges caution amid ‘encouraging’ low rates

Dr. Bonnie Henry also announced that two care home outbreaks would be declared over

Surrey mayor’s party under fire for ‘sickening’ tweet accusing northern B.C. RCMP of murder

Mayor Doug McCallum says tweet, Facebook post ‘sent out by unauthorized person’

Father’s Day Walk Run for prostate cancer will be virtual event this year throughout B.C.

The annual fundraiser for Prostate Cancer Foundation BC has brought in $2.5 million since 1999

Dr. Bonnie Henry announces official ban on overnight kids’ camps this summer

New ban comes after talking with other provincial health officials across the country, Henry says

Senior man in hospital after unprovoked wolf attack near Prince Rupert

Conservation officers are on site looking for the wolf

VIDEO: NASA astronauts blast off into space on SpaceX rocket

Marks NASA’s first human spaceflight launched from U.S. soil in nearly a decade

‘I knew what he wanted’: Kootenay man spends hours in tree as black bear patrols below

Francis Levasseur is no stranger to the outdoors, but a recent run-in with a bear caused quite a scare

PHOTOS: U.S. cities brace for increasing unrest over police killing of George Floyd

Minnesota Gov. Tim Walz has fully mobilized the state’s National Guard

$200,000 Maybach impounded after ‘L’ driver caught excessively speeding in Vancouver

Meanwhile, the supervisor sat in the passenger seat, police said

Most Read