The City of Burnaby spent $6.9 million from its gaming fund on city projects in 2011.
A report from Burnaby's director of finance, Denise Jorgenson, shows that money was divided into $5.85 million for capital projects, including the Burnaby Lake rejuvenation project ($5.05 million) and the works yard redevelopment ($453,182); and $1.05 million for operating projects such as Festivals Burnaby ($437,343) and the mural grant program ($6,757).
The city received $9.43 million as its portion of the net provincial proceeds from the Grand Villa Casino in Burnaby for 2011.
It also made $2.9 million in interest on its gaming fund reserves, which totalled $54.3 million at the beginning of the year.
The final balance for the year was $59.78 million.
The city estimates it will receive approximately $12 million - $9.5 million from the casino proceeds and $2.5 million in interest - and will spend $20.6 million from the reserves this year.
The 2012 reserve fund end balance is estimated to be $51.18 million.
Council approved use of the gaming reserve funds for capital works projects to protect or improve the environment and Burnaby's heritage in 2000.
The criteria were expanded in 2005 to include capital projects in the areas of public safety, and arts and culture.
In 2010, Burnaby city council approved plans to support community festivals and special events with gaming funds, with events approved on an annual basis.
