Delta Named Most Fiscally Responsible Municipality
Nov 26, 2015
This morning, Mayor Lois E. Jackson, on behalf of The Corporation of Delta, received an award for municipal excellence from the National Association of Industrial and Office Properties Vancouver (NAIOP) for the "Most Fiscally Responsible" municipality.
NAIOP's 16th annual "municipal report card" compares the performance of 21 municipalities in the Metro Vancouver area on a number of criteria. The most fiscally responsible award was given to Delta for maintaining an equivalent annual inflation rate of 1.8% for the 2001-2015 term, while consistently achieving a similar level of equivalent average annual inflation for previous terms.
Recognizing Delta’s longstanding commitment to fiscal responsibility, this is the third time that Delta has received this recognition. In the past, Delta has also received NAIOP's "Most Improved Municipality" award.
"Delta Council's prudent financial planning and continued fiscal strength is the cornerstone of everything we do," said Mayor Lois E. Jackson. “Our strong financial position gives us the ability and flexibility of continually putting those funds back into the community by investing in key services for our residents and businesses.”
By the end of 2015, Delta’s general municipal debt will be down to $0.9 million; a significant drop from the high of $44.7 million in 1999. With Delta’s continued commitment to “pay as you go” project funding, Delta’s general debt will be eliminated by 2018.