The District of Sicamous is busy seeking funding that will offset the total financial impact of the this summer’s debris flow and flooding, estimated at $1 million.
District financial services director Ruth Walper notes in a report to council that the final cost to be incurred by the municipality is estimated to be between $150,000 and $350,000.
“We will need to report further to council on options to fund this shortfall,” writes Walper.
Council was required to approve an amendment to the district’s 2012 financial plan to account for the $1 million expenditure, $600,000 of which is expected to be offset by the province and $148,000 through insurance. The insurance payout would be in relation to works in Two Mile, including the sewage lift station.
“We are also trying to get information on the insurance payout with regard to the old municipal hall,” states Walper, referring to the Riverside Avenue building that incurred extensive damage from the flooding. “This however would be used to demolish or restore the building based on council’s decision.”
Walper notes that current figures are based on information available to date, and that this is a learning process for staff, who may “not have all the facts or be interpreting them correctly.”