of Port Coquitlam
City Council

From: J. Maitland,
Treasurer / Dep. Administrator

Subject: Fraser Valley Regional Library - Funding Formula
Meeting on March 30/94 with Councillor Stewart

Recommendation:

That City Council advise the Fraser Valley Regional Library that they are in favour of the present
funding formula of 50 percent lagged actual assessment and 50 percent on population be used for
the 1994 budget year.

Background & Comments:

In the past we have been concemed with the difference in the per capita cast of the FVRL’s
service across the region, however when we reviewed information on the attached spreadsheet, it
was apparent that the present method of allocating costs is not detrimental to the City.

The spreadsheet shows that the City’s shere of costs would be the following:
if the formula was based upon circulation 8.37%
if the formula wes based upon property assessment 8.21%
if the formula was based upon population 792%
if the present 50/50 formula was kept 8.07%

Also included on the spreadsheet are per capita cocts which show for the municipalities, there is
a difference in cost ranging from a low of $14.40 in Hope to a high of $20.58 in White Rock.
This had caused some earlier concem, however when the various options are reviewed, the
present formula does not appear to be unreasonable.

LOLs
and, Treasurer / Deputy Administrator

ie Aayit