City of Cranbrook

Proposed Five-Year Financial Plan Summary

2023 – 2027

Borrowing

Over the five-year period 2023 to 2027, the City plans to borrow $79,127,454 for various capital projects as follows:

*AssumedInterestrateof4.20%-reviewedwithMFA

Note: Borrowing typically lags behind the year the project is initiated. In the case of equipment purchases, it can take up to18 months from the time the order is placed towhen the City takes possession and payment is required.

** Council gave three readings to Phillips Reservoir UV Disinfection Facility Loan Authorization Bylaw 4075 in February 2022 for borrowing up to$3,500,000. Included inthis amount is $3,267,000 to cover the DCC portion of the project that has not been collected yet.

City of Cranbrook

Proposed Five-Year Financial Plan Summary

2023 – 2027