Saving for our Future
Sustaining our community into the future is crucial.
After some tough decisions on the three-year financial plan, the City of Merritt has been able to grow our future critical infrastructure reserve contributions for water supply improvements and wastewater treatment end-of-life plant repair/replacement, while eliminating the need to rely on savings to balance the operational budget.
KEY MESSAGES
- The City has been able to increase reserve contributions $239% between 2023 ($1.08M) and 2025 ($3.65M). That’s a $2.6M increase in savings in just two years.
- Before 2023, reserve contributions came only from specific sources such as gas tax and climate action grants, interest income, or provincial reimbursements related to fire department deployments. There was no dedicated savings set aside for major infrastructure renewal, such as the inevitable replacement of our wastewater treatment plant. In 2023, the City began formally identifying and designating these critical assets in its financial plan.
- The 2025 column now features detailed reserve contributions, including the top 2 priorities, as identified by public feedback, to improve our water supply and replace/repair the wastewater treatment plant, which is at the end of its lifespan.
VIEW GRAPH BELOW
2025 vs 2023 City of Merritt Reserve Contributions
EXCL INTEREST ALLOCATIONS TO NON-STATUTORY RESERVES
Financial Plan | 2026 – 2030
IN PROGRESS | FEBRUARY 2026 5-year Financial Plan (2026-2030) Budget Overview The City of Merritt updates its 5-year Financial Plan…
Read More