British Columbia: City reallocates casino revenue for operating budget to offset inflationary pressures

British Columbia: City reallocates casino revenue for operating budget to offset inflationary pressures

Article brief provided by EnergeticCity.ca
  • Max Bowder, EnergeticCity.ca
March 17, 2024 2:33 PM
  • Max Bowder, EnergeticCity.ca
  • British Columbia

Fort St. John council has decided to reallocate the city’s revenue of over $750,000 [US$554,000] from Chances Casino to the operating budget in order to offset inflationary pressures.

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According to a report to council, staff feels the increased expenses due to inflation need to be addressed by finding additional revenues and reducing costs. The revenue will now be transferred to cover community service operations in the 2024 operating budget.

The relocation is expected to generate an additional $100,000 to $200,000 yearly for the city’s operations and move the budget toward a surplus in the future.

In the report, Chief Administrative Officer Milo MacDonald said extra expenses due to inflation put pressure on the city’s operating budget, creating deficits for the past five years.