North Battleford's City Council approved an update for investments in the City. (File photo/battlefordsNOW Staff)

By battlefordsNOW Staff

Council wrap-up

Proclamations, investment policy update for North Battleford

Mar 21, 2022 | 11:38 AM

The City of North Battleford has updated its institutional investment policy.

During the latest council meeting, Adminstration noted a review of the Investment Policy Bylaw, where they decided to propose a moderate term portfolio. This decision was made in order to deal with liquidity and short-term cash flow issues. Because the City carries a balance of around $5 million, Finance Director Dren Ndaon said establishing a moderate term with a three-to-five-year horizon is a more secure strategy.

“It brings additional opportunities to increase our investment returns through better investment opportunities,” he said.

Coun. Greg Lightfoot echoed the sentiment of adding a moderate term during discussion of the proposed change, which was voted on unanimously.

“Right now, we’re going from such a short term to a long term that there’s no in-between,” he said.

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This change will also minimize the dollar value of funds kept in the short term pool, which are already receiving low returns in the current low interest rate environment.

Inclusivity survey update

North Battleford’s regional survey, part of an effort to promote diversity and inclusion organizationally, is complete. A total of 1,040 people participated in the survey, conducted between December and February, was completed jointly with the Town of Battleford.

Both municipalities are handing out five $50 gift certificates to participants drawn at random. A more detailed update is being brought back to council with the survey’s results, in order to help craft a draft action plan.

Anti-discrimination proclamation

Council proclaimed March 21 as the International Day for the Elimination of Racial Discrimination. The day was first proclaimed with its distinction back 1966 by the United Nations.

Mayor David Gillan also proclaimed this week as Francophone Week in the City of North Battleford. As a result, the Fransaskois flag was raised today at City Hall.

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On Twitter: @battlefordsNOW