The qathet Regional District says a $50,000 grant will help them keep a handle on their risks.
The grant comes from the federal government’s Canada community-building fund and the province is encouraging public sectors to build enterprise risk management programs that coordinate risk management in all parts of their organizations.
The framework would detail how risk is assessed, the roles and responsibilities of executives, managers and all employees in managing risk and the effective reporting and communication.
The district says it will provide direction in locating, assessing and quantifying the risks connected to its assets and effective risk management can help with long-term taxpayer savings and continuation of services.
“Taxpayers depend on the qathet Regional District to provide services and programs that are timely, efficient, and cost-aware,” said regional board chair Clay Brander. “The qRD assumes responsibility for some of the greatest hazards in our community, and associated risks can be expensive and dangerous.
“As a result, a risk management framework will be an essential tool for guiding the Board and staff in identifying, evaluating and managing the risks associated with qRD assets.”
The district adds with the framework, they will be in a stronger position to make sustainable service delivery decisions with more knowledge of the risks and mitigation costs.