Financial Plan & Borrowing

2021 Financial Plan

PUBLIC NOTICE is hereby given pursuant to Subsection 162(2) of The Municipal Act, that the Council of the Rural Municipality of St. Clements intends to present its Financial Plan for the fiscal year 2021 at a Public Hearing in the Council Chambers of the R.M. of St. Clements on Tuesday, May 4th, 2021 at 7:00 p.m.

Seating at the financial plan will be limited to accommodate social distancing. We ask that you contact our office to register your attendance so that we can ensure adequate physical distancing seating. Alternatively, we will be live streaming the public hearing with interactive chat. A link to the hearing will be made available on our website.

Council will hear any person who wishes to make a representation, ask questions, or register an objection to the Financial Plan as provided. If you wish to do one of the above, please submit in writing prior to 4:00 p.m. on Tuesday, May 4th, 2021.  Your written submissions can either be emailed to info@rmofstclements.com, dropped off at our office by using the mail slot at the south door of our building or mailed to our office if time permits.

If you wish to watch a recording of the hearing, you will be able to view it on our youtube.

Any person who has questions, needs clarification or requires further information, either prior to or following the hearing, is encouraged to contact Shannon Plischke, Finance Officer at 204-482-3300.

Copies of the 2021 Financial Plan will be available for review after April 27, 2021 at the Municipal Office located at 1043 Kittson Road, East Selkirk or below.

Financial Plans

Borrowing

2020

The Council of the Rural Municipality of St. Clements intends to give first reading to two (2) proposed borrowing by-laws.  For more information on these By-Laws, click here to take you to the web page.

How does borrowing work?

It is very similar to getting a loan to build a home.

  • We get approval to borrow a certain amount. The amount approved for borrowing is not necessarily the amount we will borrow; it is a maximum amount.
  • Before we actually borrow, we complete the project and pay for it either with money on hand, a short term loan or a line of credit. We will also be seeking grants and other cost saving opportunities to help reduce the amount borrowed.
  • Once the project is completed, council will look for the best rate and borrow the funds that were spent
  • Loan payments are expected to start between 2020 and 2022. At that point, the loan payments will be collected from residents through their annual property tax bill.