Reserves

Summary

Capital and Operational Reserves

The 2020Budget includes the continued management of the following reserve accounts (see attached Reserves Schedule).

Infrastructure Replacement

The Infrastructure Replacement reserve provides for expenses associated with the replacement or rehabilitation of existing capital infrastructure as well as specific new assets, when restricted donor or grants are available.

For 2020, the infrastructure budget accounts for a $250,000 transfer to the infrastructure reserve, $10,000 in anticipated interest revenues and $14,250 in transfers from the Foundation, relating to multi-year funding agreements. The 2020 capital plan directs significant investment in Holiday Beach infrastructure, and the John R. Park Homestead consistent with the asset management plan (AMP) but also incorporates new assets, funded entirely from funds raised by the Foundation. Specifically, the proposed $1,452,000 of capital investments for 2020, are as follows:

• John R. Park Homestead Break Wall reconstruction ($250,000). With the record high water levels seen in Lake Erie this year in combination with expected deterioration, the John R. Park Homestead will be upgrading its break wall to ensure the ongoing and long term protection of this historic site. The project will also include some safe public access areas and seating for the public to enjoy a view of the lake. Administration will also be making a Water Erosion Control Infrastructure (WECI) application to extend the shoreline protection to the mouth of Fox Creek.

• John R. Park Homestead Heritage Centre ($691,000). ERCA received $600,000 for construction of a new Heritage Centre to meet demands of its outdoor education program that its existing 40year old facility (a converted grain barn) does not provide. The facility will also serve as a welcoming/ tourism space with adequate washroom facilities and office spaces to improve student and visitor experiences. The ERCF has launched a campaign to match funding received from the Federal Grant. Architects were hired in 2019 and construction is to be completed by December 2020.

• Holiday Beach Conservation Area Workshop ($300,000). A new workshop was scheduled to be built in 2019; however, the tendered prices were not within our budget. ERCA is now working with an engineering firm to reduce the construction fees. The new building will most likely involve a complete renovation of the existing building instead of building in a new location, which will substantially reduce servicing costs and reduce our environmental footprint by reusing building materials.

• Holiday Beach Playground and Classroom ($35,000). ERCA in partnership with our Foundation has begun the construction of the Enbridge Natural Playground and the University of Windsor Alumni