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Board tries 'new approach' to spending

by isleofman.com 9th February 2009
Onchan Commissioners are promising projects funded by their budget for the coming year will be of more immediate benefit to local residents than in the past.

The authority has agreed a below inflation rate rise of 1.5%, with additional funding from reserves making up an overall budget for the district of almost ?2.5 million.

Schemes in the pipeline include more street lighting around the village, new furnishings for the library, improved safety surfaces at play parks and a new refuse vehicle.

Lead member for finance Ernie Thorn says 'saving up' for what you want, means residents don't always see what their rates have paid for, so this year the board is trying a different approach.

He told Manx Radio:

"The commissioners in the past have worked on a very prudent basis that you don't buy anything until you can afford it, so we put money away into reserves to buy refuse wagons, which are very expensive items.

"The new philosophy is it should be the people who get the benefit of the asset as you pay for it, so you buy it on credit terms.

"When you are paying it back over its expected life, together with whatever loan charges there are, the people who are getting the benefit of the asset are the ones who are paying for it then, through the rates."



Posted by isleofman.com
Monday 9th, February 2009 10:01pm.

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