At the February 4, 2014 Special Council Meeting, Council endorsed a revised 2014-2018 Financial Plan based on a tax rate increase of 2% for residential taxes and 1% for business taxes.

Compared to 2013 the new plan reduces taxation revenues for 2014 by approximately $30,000.00 but continues to demonstrate financial success in many areas including no new borrowing commitments in 2014, a sequential reduction of debt, and the transition to building of reserves as well as the gradual shift of a reduction in business taxation.

Chief Administrative Officer, Tim Palmer explained that “The City is committed to continuing to find new ways of operating with fewer resources while maintaining service levels keeping in mind that the community survey clearly indicated that overall citizens want the City to retain our current high service levels.”

Based on community feedback, council uncertainty and some ambiguity in the project mandate the bulk of the City Hall improvements have been removed from the 2014 budget year. The necessary changes to development services will still be completed; however the exterior replacement and elevator installation will not be done this year.

Mayor Raven stated that “I am pleased to see the budget process completed early this year and look forward to all the benefits that the improved process will deliver towards the efficiency of City operations.”

The new timelines and early approval established within this budget cycle will allow staff to prepare more timely work plans for identified projects. Staff will also endeavor to introduce a more in depth input process from the public in relation to capital projects during the next budget cycle.

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For Further Information Contact;
Graham Inglis, Director of Finance, 250-837-2161or
David Raven, Mayor, 250-837-2911