The Town of Golden Standing Committee on Finance Meeting held on 15 July 2025 which was broadcast live and recorded.
The primary focus of the meeting is a discussion surrounding the process for allocating Economic Opportunity Funds (EOF), particularly concerning applications from various community organizations like Golden Community Economic Development (GCED), Golden Food Bank and Local Food Matters.
The discussion highlighted confusion and inconsistencies in the current application and vetting process for these funds, debating whether applications should first be vetted by the Columbia Shuswap Regional District (CSRD) or the Town of Golden Council.
The committee ultimately resolved to amend the process for all subsequent EOF proposals to ensure initial compliance vetting by the CSRD, acknowledging the potential impact on presently received applications and their critical funding timelines.
The Town of Golden Council awarded $100,000 to Local Food Matters.
This allocation came from the 2025 Economic Opportunity Fund (EOF) dollars and is intended to support Local Food Matters’ core operations.
The proposal from Local Food Matters had initially requested funding over three years, with $100,000 for the first year, $90,000 for the second year, and $80,000 for the third year, though the council explicitly stated they were only voting on the first year’s allocation. The motion to grant the $100,000 for core operations was carried unanimously by the council.
The purpose of this funding is to support local producers in the storage and distribution of their food, contributing to the agricultural sector. It also aims to add resilience to the community’s food supply chain, ensuring access to healthy, seasonal, and fresh food, and potentially supporting school food programs.
Local Food Matters also noted their relationship with a private foundation and evolving negotiations with United Way BC to establish a regional food hub, which could channel provincial food security dollars into the community. The work related to the regional hub was described as being “on top of the regular work” allocated for this funding.
During discussions, concerns were raised about the potential impact on Local Food Matters’ timelines and funding windows if the decision were delayed, as their “farm hub project” could be compromised.
Local Food Matters clarified that the intent was to acquire infrastructure in the autumn, have electrical hook-ups ready by spring, and test supply chains and the distribution platform over the summer months, with a planned launch in autumn 2026.
The Golden Food Bank –
The Golden Food Bank received two distinct allocations:
1. An extension and scope expansion for existing funds amounting to $10,675.
• This amount represented funds they had previously received and were seeking an extension to spend.
• The initial purpose of these funds was specifically for “emergency food from local producers”.
• The Council approved a motion to extend the term for these funds and expand their scope to include the acquisition of local food for their meal kit program. This expansion was requested because the emergency food program already received a substantial amount of recovered food, making the dedicated local purchasing complicated, and allowing flexibility across programs was seen as beneficial. The extension aimed to allow them to purchase produce during the full summer growing season, through to the end of September.
2. A new award of $30,000 from the Economic Opportunity Fund (EOF).
• This funding was proposed “to facilitate procurement of local foods for distribution through food access programs supporting low and moderate income residents and of the Golden area”.
• The detailed budget for this request included $15,000 for local food for food bank meal kits, $10,500 for a part-time coordinator, and $4,500 for administrative work.
Concerns were raised regarding whether the portions allocated to staffing and admin work qualified for EOF funds under policy F29, which is project-based. Despite these concerns, the motion to grant the $30,000 was carried.
This particular funding is intended for purchasing from local producers in the fall and the subsequent growing season.
It was also noted that the Golden Food Bank, along with Local Food Matters, had not filled out the formal CSRD application form for their requests, as they were advised by Director Cathcart that proposals should come to Council first, then the CSRD. Despite this procedural discussion, the Council proceeded with considering and voting on the funding requests due to their time-sensitive nature.
Golden Community Economic Development Society –
The Town of Golden Council awarded $375,000 to Golden Community Economic Development (GCED) from the Economic Opportunity Fund (EOF).
Here is a breakdown of the financial request and allocation:
• GCED submitted a proposal requesting $375,000 from the EOF.
• This amount contributes to their total budget, alongside $30,000 allocated by the Town of Golden through its budgeting process and another $30,000 from Electoral Area A (from taxation) for the current fiscal year. This means the actual request from the EOF was $315,000 ($375,000 total budget minus $60,000 from other sources).
• The motion to grant the $375,000 from the 2025 EOF dollars to Golden Community Economic Development Services was carried unanimously.
• Despite some councillors raising questions about the funding being for core staffing rather than specific projects, and whether all activities aligned with the EOF policy F29, the Director Cathcart clarified that community economic development has historically always been funded through EOF as base core funding and that it aligns with policy F29.
• The motion to allocate the $375,000 was ultimately carried unanimously by the Council.
The total amount in the Economic Opportunity Fund (EOF) for Golden and Area A is anticipated to be $1,050,000 for this year.
This figure includes an anticipated allocation of $618,000 that is expected to be added to the fund this month. Any unspent funds from the EOF account are carried over into a reserve.
The Town of Golden typically receives two allocations a year for this fund.
To learn more about Economic Opportunity Funds, contact Director Cathcart or speak to the Mayor or Council.
