HomeMy Public PortalAboutPolicing Reserve Fund Bylaw 1374 TOWN OF OLIVER
BYLAW 1374
A bylaw to establish a Policing Reserve Fund
WHEREAS in accordance with Section 188 of the Community Charter, the Council may, by
bylaw, adopt a reserve fund for a specified purpose and direct that money be placed to the credit
of that reserve.
NOW THEREFORE, the Council of the Town of Oliver in open meeting assembled hereby enacts
as follows:
1. To offset the cost of special policing major crimes, DNA analysis costs or other
unexpected expenditures. Major policing expenditures can come forward without any
forewarning and it is often not possible to fund these projects via taxation or other
reserves. Funds can also be used for capital expenditures as related to policing. As the
Town’s population grows, the funds in this reserve can be used in assisting with
smoothing of additional policing costs to prevent spiking of tax rates related to policing.
a. This reserve fund will be capped at a maximum of $1,000,000.
2. Funding for the reserve will be established through the following:
a. 50% of the Non- Market Change on an annual basis.
b. Savings from the policing operational budget.
3. This bylaw may be citied for all purposes as “Policing Reserve Fund Bylaw 1374”.
Read a first, second and third time as amended on the 26th day of February, 2018.
Adopted on the 12th day of March, 2018.
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Mayor Corporate Officer