Council is one step closer to having the 2025-2029 Financial Plan ready after giving final review to the draft plan on March 11.
The final reading was to formalize decisions made previously, including capital decisions made at the budget meeting on January 28, and operating budget approvals made on February 4.
The draft Financial Plan includes total operating expenses of $ 17,493,613 for 2025. This does not include any operating reserves being utilized for ongoing operating expenditures, transfers to reserves of $4,247,400 for paving, equipment and water capital reserve, and carry forward special projects of $2,516,216 and the funding associated with these projects.
This also includes a taxation increase of 8.46 percent with 3.83 percent being allocated to General Municipal Taxation and .08 percent to increased one percent grant in lieu of taxation increases received from BC Hydro.
However, the budget did not include decisions made at the March 3 meeting, which included the Library operating budget, as well as a pair of Grant-in-Aid requests.
The draft financial plan also includes projected tax increases for the next four years: In 2026, taxes are expected to go up 7.75 percent to cover wage increases for the union and other contractual agreements, plus estimated inflation costs. In 2027, taxation is expected to rise 4.21 percent, which includes a 3 percent inflationary cost and any negotiated contracts. The year after is expected to see a 4.18 increase in taxes, which includes a 3 percent inflationary cost and any negotiated contracts. And finally, 2029 taxation is expected to go up by at least 3.3 percent to cover the standard 3 percent inflationary cost.
Of course, these are not guaranteed, but projected increases over the next few years, and don’t factor in any capital projects moving forward.
Speaking of capital projects, this year’s budget includes a number of major projects to be undertaken, including downtown sidewalk repair, paving of Sukunka Ave and Place, Wolverine Ave and Place, and Valleyview Cres and Place, upgrades to the Fire Training Centre, the purchase of ten golf carts for the golf course, replacing the garbage truck and one of the street sweepers, and the replacement of the boilers at the Community Centre.
This last item, of course, has already happened after the boilers failed last month.
As discussed previously, most of these items come from sources other than taxation, including the Peace River Agreement (PRA) funds, Reserve funds, Gas Tax and/or grants the District has received or is hoping to receive.
2025 will also see about $8.2 million in carry forward projects from 2024. Again, most of these items are being funded from the PRA, Reserve funds and surplus from 2024.
Things that were on the docket for last year but didn’t happen include renovations to the Community Centre, paving of the Community Centre parking lot, replacing of some of the District’s fleet of light vehicles and fixing of the golf course road.
Trent is the publisher of Tumbler RidgeLines.
