What happened

Town of Princeton Council Approves 2023 Revenue Anticipation Bylaw

Quick view

The Town of Princeton Council has approved the 2023 Revenue Anticipation Bylaw, which will allow the town to borrow money to cover its expenses until tax revenue is received. The bylaw was approved with first, second, and third readings, and will enable the town to borrow up to a certain amount to cover its expenses until tax revenue is received. The town's financial update for the third quarter of 2022 was also presented to council, showing a significant increase in revenue and a strong financial position.
FACT · Decisions / recommendations

What was decided (or proposed)

  • passed — 2023 Revenue Anticipation Bylaw: Council approved the 2023 Revenue Anticipation Bylaw with first, second, and third readings. [20]
  • recommended — 2022 3rd Quarter Financial Update: The financial update showed a significant increase in revenue and a strong financial position, with a bank balance of almost $9 million. [4][13][14][15][16]
FACT · Next

What comes next

  • The town will now move forward with implementing the 2023 Revenue Anticipation Bylaw and continuing to manage its finances effectively.
FACT · Delegations

Who spoke

  • James Graham, Director of Finance — To present the town's financial update for the third quarter of 2022.
CONTEXT · Who may be affected

Stakes & interests

Financial Stability

The approval of the 2023 Revenue Anticipation Bylaw will provide a financial safety net for the town, ensuring that it can cover its expenses until tax revenue is received.

FACT · By item

Item notes

Every business item from the published agenda is listed here. Full agenda.

6.1 3rd

3rd — Town council would receive the 2022 3rd Quarter Financial Update for information only 2022 Quarter 3 Financial Update Operations Annually Operations Variance Operations Monthly Pos [4][13][14][15][16]

“THAT Council receive the 2022 3rd Quarter Financial Update for information only 2022 Quarter 3 Financial Update Operations Annually Operations Variance Operations Monthly Position Annually [4][13][14][15][16]”

6.2 82 & 88 Fenchurch Avenue Temporary Permit application

82 & 88 Fenchurch Avenue Temporary Permit application — the Temporary Use Permit for 82 & 88 Fenchurch Avenue be approved. Temporary Use Permit Staff Report 82&88 Fenchurch Ave 82 & 88 Fenchurch Plan Adjacent Owner Letter [7][8]

“THAT the Temporary Use Permit for 82 & 88 Fenchurch Avenue be approved. Temporary Use Permit Staff Report 82&88 Fenchurch Ave 82 & 88 Fenchurch Plan Adjacent Owner Letter [7][8]”

6.3 Replacement of 1977 Cat Wheel Loader

Replacement of 1977 Cat Wheel Loader ($255,140.00) — Town council would approve the purchase of a 2022 Case wheel loader and attachments from Inland Equipment for the sum of not more than $255,140.00 plus tax, AND THAT the Mayor and [17]

“THAT council approve the purchase of a 2022 Case wheel loader and attachments from Inland Equipment for the sum of not more than $255,140.00 plus tax, AND THAT the Mayor and Chief Administrative Officer be authorized to execute the necessary documents. Replacement of Wheel Loader [17]”

8.1 Letter from Dawn Johnson

Letter from Dawn Johnson [5]

8.2 Okanagan College

Okanagan College [12]

8.3 FortisBC

FortisBC [10]

8.4 Valley First

Valley First [18]

10.1 Zoning Amendment Bylaw 1032, 2022. 245 Highway 3

Zoning Amendment Bylaw 1032, 2022. 245 Highway 3 — Zoning Amendment Bylaw No. 1032, 2022 be adopted. 245 Hwy 3 Zoning Amendment Staff Report for Adoption MoT Approved Zoning Amendment Bylaw No. 1032 2022 [21]

“THAT Zoning Amendment Bylaw No. 1032, 2022 be adopted. 245 Hwy 3 Zoning Amendment Staff Report for Adoption MoT Approved Zoning Amendment Bylaw No. 1032 2022 [21]”

10.2 Official Community Plan and Zoning redesignation for 309 and 311Culbertson Way

Official Community Plan and Zoning redesignation for 309 and 311Culbertson Way — Bylaw No. 1030, 2022, a bylaw to amend the Land Use Plan – Schedule A of the Official Community Plan Bylaw to redesignate Lots located at 309, 311 Culbertson Way from HC, Highway C [6][9][11][22]

“THAT Bylaw No. 1030, 2022, a bylaw to amend the Land Use Plan – Schedule A of the Official Community Plan Bylaw to redesignate Lots located at 309, 311 Culbertson Way from HC, Highway Commercial to MR, Medium Density Residential and to amend Section 5.5.2.2 to replace density pro [6][9][11][22]”

10.3 2023 Revenue Anticipation Bylaw

Council approved the bylaw with first, second, and third readings. [20]

“THAT Council gives the Town of Princeton Revenue Anticipation Bylaw No. 1034, 2022 first, second and third readings. [20]”

Open questions

  • What are the specific financial challenges that the town is facing, and how will the 2023 Revenue Anticipation Bylaw address them?

Sources

  1. CivicWeb meeting
  2. Agenda document
  3. YouTube recording
  4. 2022 Quarter 3 Financial Update
  5. 20221201142746841_Redacted
  6. 2nd reading Official Community Plan and Zoning Amendments redesignate Culbertson Way Report
  7. 82 & 88 Fenchurch Plan
  8. Adjacent Owner Letter
  9. CD 2 Zone
  10. FortisBC_Redacted
  11. Infrastructure-Culbertson Apartment Complex
  12. Okanagan College
  13. Operations Annually
  14. Operations Monthly
  15. Operations Variance
  16. Position Annually
  17. Replacement of Wheel Loader Report
  18. Valley First_Redacted
  19. 2023 Revenue Anticipation Bylaw
  20. 2023 Revenue Anticipation Bylaw Report
  21. MoT Approved Zoning Amendment Bylaw No. 1032 2022
  22. Official Community Plan Amendment Bylaw No. 1030, 2022

Generated 2026-08-22T01:09:53.047729+00:00 · model llama3.1:8b

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Brief 663 · 2022-12-05