Yorkton Council has approved execution and submission of the Municipal Gas Tax Fund Agreement – Transfer of Federal Gas Tax Revenues under the Gas Tax Program – Amending the existing Agreement to meet the terms of the Municipal Gas Tax Fund Agreement.
In 2014, the provincial and federal governments entered into an administrative agreement on the renewal of the federal Gas Tax Fund (GTF) program for a ten-year term, 2014-15 through 2023-24, explained Ashley Stradeski, Director of Finance with the City at the regular meeting of Council Tuesday (as Monday was a statutory Holiday).
The renewed GTF will provide Saskatchewan with $616.9 million over ten years, with $292.7 million provided during the first five years from 2014-15 to 2018-19 and $324.2 million for the last half of the agreement from 2019-20 to 2023-24.
To participate in the program, the City of Yorkton entered into a Municipal Gas Tax Fund Agreement (MGTFA) with the province. The MGTFA has now been amended to reflect changes made to the Canada-Saskatchewan bilateral agreement, to incorporate administrative changes and to establish new dates over the next five years.
Some changes to note:
*The allocation formula has been revised so that the municipal associations are eligible to access Unspent Funds to assist with eligible capacity building projects, including those related to asset management.
*The municipality must continue to work towards achieving asset management goals approved by the Oversight Committee Co-Chairs pursuant to Schedule F, and as communicated to municipalities.
*The municipality must submit an Infrastructure Investment Plan by April 30, 2020 utilizing some or all of its 2019-20 to 2023-24 allocations.
*The municipality must have at least one IIP approved by March 31, 2021 utilizing some or all of its 2019-20 to 2023-24 allocations.
*Statistics Canada Census years have been clarified for incremental reporting and capital plans.
*New due dates have been established for incremental plans.