Financial Plan

What is a financial plan?

A Financial Plan is required in order to provide the entity responsible for maintenance with guidance with regard to financial planning for maintenance and replacement costs. The Financial Plan shall include the following items:

• A list of all stormwater-related facilities and their expected date of replacement and associated costs;
• Sinking fund calculations that take into consideration probably inflation over the life of the infrastructure and estimates the funds that need to be set aside annually; and,
• A mechanism for initiating and sustaining the sinking fund account demonstrating that perpetual maintenance of all facilities associated with the stormwater system will be sustained.