Council approves long-term financial plan

City council has approved a long-term financial plan for Timmins.

David Landers, the city’s chief administrative officer, presented a report to council during Tuesday night’s meeting.

The report states a long-term financial plan would “establish a series of principles that would guide the city’s finances over the next decade, as well as finding funding and predicting operational and capital requirements.

It would also form the basis for financial policies and establish a guide to budgeting, borrowing, capital financing, reserve and reserve-fund management.

Landers said he has applied for 100 per cent funding from the province on the plan, but did not say when it would be implemented.