Investment gains rise as North Battleford tackles infrastructure costs

The city’s long-term portfolio is valued at more than $15 million, with a significant portion of that total coming from investment growth rather than new deposits.

Since 2018, the portfolio has delivered average annual returns of more than seven per cent, compared with roughly two to three per cent from traditional savings accounts and short-term bonds.

A moderate-term portfolio has also grown from about $1.2 million in invested capital to roughly $1.9 million, reflecting gains generated over time.

The city maintains short-, moderate- and long-term portfolios, with longer-term funds invested to generate growth while shorter-term funds remain accessible for immediate needs.

The update came as council approved more than $900,000 in upgrades tied to the city’s water systems.

The largest project is the replacement of a motor control centre at the F.E. Holiday Water Treatment Plant, after a recent failure caused by corrosion and electrical arcing damaged key components, including the plant’s control system.

City staff said the incident forced a temporary shutdown of part of the plant before crews restored operations. The equipment had already been identified for replacement, but the failure is now accelerating the timeline.

Council approved the project at an estimated cost of $770,000 plus provincial sales tax, with work expected to be completed as early as 2027 instead of the previously planned 2028 timeline.

Funding will come from a combination of previously allocated capital funds and money reallocated from other projects, with the remaining balance to be included in the 2027 budget.

Council also approved a $203,517 contract, including taxes, to upgrade the wastewater treatment plant’s control system, which is about 20 years old and no longer meets operational needs.

The contract was awarded to MPE, a division of Englobe, following a request for proposals process.

Separately, the city received the Canadian Award for Financial Reporting for the sixth consecutive year from the Government Finance Officers Association (GFOA), a Chicago-based organization representing more than 30,000 public finance officials across North America.

Hawtin said the recognition reflects the strength of the city’s financial management and the work of its finance team.

“I think residents should feel very confident in their finance team, handling their municipal tax dollars,” she said.

(Image Credit: City of North Battleford)

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Kenneth.Cheung@pattisonmedia.com

by Kenneth Cheung

Investment gains rise as North Battleford tackles infrastructure costs

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