The gas tax fund funnels a portion of diesel and gasoline sales from across Canada into a pool to fund municipal infrastructure projects.

Federal gas tax fund gives Revelstoke substantial bonus

The one-time bonus is worth more than $350,000

The City of Revelstoke is getting a substantial bonus this year.

Since 2014, the city has received annual grants from the federal gas tax fund. This year, Revelstoke will get an additional $372,424 on top of that.

The gas tax fund funnels a portion of diesel and gasoline sales from across Canada into a pool to fund municipal infrastructure projects.

It comes from an agreement between Canada-British Columbia – Union of BC Municipalities (UBCM), which replaced the former agreement that was created in 2005. The present gas tax fund will provide funding to local governments until 2024.

In addition to the bonus, the city will receive $372,801 this year, an increase of more than $300 from the year prior. The amount increases each year to a maximum of more than $400,000 in 2024.

Tania McCabe, director of finance, said the city does not have plans yet for the bonus. The money will most likely go into the city’s reserved funds until a decision is made.

READ MORE: 2019 Budget: Revelstoke city staff recommending a five per cent property tax increase

In most cases, federal gas tax funds have to be used for specific purposes, such as capital projects. For example, in the past it was used to partly fund the Thomas Brook Project, where the city extended water and sewer lines to the Thomas Brooks neighbourhood.

READ MORE: CSRD provides funding for Thomas Brook water users

In this year’s budget, the city has earmarked the payment of $372,801 to help pay for capital projects, such as Williamson Lake Campground upgrades, the splash park and city hall’s rehabilitation.

When the federal government announced its budget last month, Finance Minister Bill Morneau doubled the federal gas tax fund to $4.3 billion, up from $2.2 billion the year prior. The money is split between more than 3,600 communities.

The fund is part of the federal governments $190-billion spending program, which is one of the largest spending programs in Canadian history, to improve infrastructure across the country.


 

@pointypeak701
liam.harrap@revelstokereview.com

Like us on Facebook and follow us on Twitter.

Just Posted

Social media flooded with love for woman found dead on Kelowna beach

“We lost a sister. Because that is what we are it is a sisterhood and I can’t help but feel anything but sadness.”

Revelstoke volunteers needed for Patient Voices Network

There will be an information session next week

BC Timber Sales in Arrow Lakes passes audit

An audit of BC Timber Sales and timber sale licence holders in… Continue reading

Letter: Caribou recovery and the Section 80 application

There are three herds in our Revelstoke Planning Unit

Rain to continue for Revelstoke today

Road events from Drive BC as of 7:40 a.m.: Highway 1 east:… Continue reading

VIDEO: Okanagan fire victim Amy Hansen speaks out on the loss of her four pets

A gofundme page has been started for Hansen, with $1,140 raised of a $5000 goal to help her rebuild

WATCH: South Vancouver Island shooting an ‘isolated and targeted’ incident, say police

One person in custody, another fled following shooting and crash on West Shore

Woe, Canada: Bruins down Maple Leafs 5-1 in Game 7

No Canadian teams left in Stanley Cup playoffs

Defence accuses officer of ‘incompetence’ in trial for B.C. man accused in daughters’ murder

Double murder trial for the Victoria father accused of killing his two young daughters continues

Should B.C. parents receive money if they make sure their kids are vaccinated?

New survey looks at public opinion around government’s role in forcing immunizations

Okanagan history in pictures

Grand opening of downtown Vernon Safeway store from 1965

Okanagan firefighter steps up to challenge

Andrew Haak will be one of hundreds of firefighters taking part in the Firefighter Stairclimb Challenge in Calgary on May 5

SPCA investigating hen cull at Shuswap egg farm

Egg farm regulator says they are confident cull at was done properly

West Kelowna fire under control

A fire broke out just above Bear Creek Provincial Park Monday

Most Read