Tuesday, June 11, 2024

June 3 Council Notes: 2024-28 Financial Plan Update Approved. Traffic Fine Revenues Received.

As I've been posting for the last little bit, Langley City Council has been going through the approval process of updating our 2024-2028 Financial Plan due to changes in our capital projects plan and to reflect the estimated debt servicing costs to support the $15 million loan approval process throughout the financial plan's life. Council gave final reading and adopted the amended 2024-2028 Financial Plan at its June 3rd meeting. You can learn about the updated capital projects in a previous post.

In 2004, the Province began returning 100% of traffic fine revenue to local governments. At the time, Langley City Council directed this funding back toward the RCMP, which continues to help fund three RCMP members.

Langley City recently received our 2023 payment from the provincial government of $473,000. At its last meeting, City Council thanked the Province. The following table shows the revenue received in previous years.

2018 - $452,388
2019 - $475,823
2020 - $600,619
2021 - $534,333
2022 - $453,396

I'd like to see this revenue go down year over year as it would show that we are designing safer roads and that people are also driving safer.

No comments: