THE CORPORATION OF THE CITY OF PORT coour

2580 SHAUGHNESSY STREET TELEPHONE: 944 - 5411
PORT COQUITLAM, 8.C. FAX: 944 - 5402
vac 2A8

OUR FILE

June 05, 1991

Fraser Vailey Regional Library
34589 Delair Road
Abbotsford, B.C.

V2S 5SY1

Attenti

Dear Sir:

Re: Funding Formula

This brief letter is to advise you that at the Port Coquitlam City Council meeting held on
June ist, City Council passed the following resolutions:

1. That the City Council endorse that the FVRL, continue to use the present formula of
50 percent lagged actual assessment and 50 percent population be used for the 1993

budget year.

That City Council request the FVRL to undertake a review of the funding formula
once 1993 assessment information is available.

The thought behind the second resolution is that perhaps a levy based upon assessments is
not equitable and there mzy be other methods of charging that might appear to be fairer.
Perhaps there should be a core cost for administration which is shared by all but the local
cost should have some flexibility so local council members can set the local level of

service.

If you have any questions, please give me a cali.

Yours very truly,

ff

7

/

J. Maitland, City Treasurer -
Deputy Administrator

JM/ms
c.c. Alderman R.H. Talbot