City of Vernon staff find budget error in Civic Memorial Park project

City park budget error

The City of Vernon found a budgeting error for the 2023 Civic Memorial Park Phase 3 project – over stating how much funding was coming from a grant.

The overall project budget of $1,359,000 was budgeted with $869,564 coming from a federal grant, but amount funded from the grant was only $639,000.

According to a staff report, this means the grant was overstated by $230,564 and should have been funded from the Infrastructure Reserve, where the remainder of the project budget is funded.

“A correction is required in 2024 to reverse the grant funding accrual and to draw the funds from the lnfrastructure Reserve,” reads the report. “The available balance in the reserve is $500,696.”

Staff say the correction does not affect the 2024 budget nor any planned 2024 projects.

The error will be before Vernon council at Monday’s regular meeting where it’s recommended council direct staff to draw the $230,564 from the reserved to adjust the project funding.

More Vernon News