Falling loonie costs Kelowna taxpayers extra $180,000 for new fire truck
By John McDonald
The Kelowna Fire Department must pay an additional $50,000 for new fire engine purchased in the U.S.
(JOHN MCDONALD / iNFOnews.ca)
October 30, 2015 - 4:30 PM
KELOWNA - By last March, the sagging Canadian dollar had already cost Kelowna taxpayers an extra $130,000 for purchase of a new fire engine from the U.S.
But the loonie has dropped further since and Kelowna Fire Department chief Jeff Carlisle is again asking Kelowna city council to top up the purchase price of the big rig, this time by another $50,000.
The loonie has declined 6.1 per cent since council last amended the fire engine purchase and the closing date of the purchase tender in late August.
In March, the exchange rate was $1.24 CDN rising to $1.32 in August.
In a report to council, Carlisle says a survey by financial surveys forecasts continued turbulence for the Canadian dollar and recommends paying for the fire engine in both Canadian and U.S. funds when the final bill comes due in late 2016.
Council will consider the request at its regular meeting on Nov. 2 at 1:30 p.m. in chambers at City Hall.
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News from © InfoTel News Ltd, 2015