Introduction - Report to Council - Revelstoke's Financial Performance 2002

This report shows Revelstoke’s financial performance in a variety of contexts in comparison to a number of different municipalities of similar size and geographical location. The comparison group was chosen by the Strategic Financial Management Plan Citizens Advisory Committee (SFMPCAC) and includes Quesnel, Nelson, Castlegar, Kimberely, Salmon Arm, Merritt and Golden. Although Salmon Arm and Golden are different in size to Revelstoke, they were included in the comparison group because they are communities with which Revelstoke usually compares itself. Included in the charts, where applicable, is also shown the average of all other municipalities in British Columbia excluding Vancouver.

The SFMPCAC’s report to Council presented in March 1999 included statistical data in graphical format largely based on information from the Municipal Statistics “Blue Books” produced by the Ministry of Municipal Affairs each year from the financial statements of all municipalities within British Columbia. The latest year available at the time that report was completed was 1996. Subsequent annual Financial Performance Reports have shown updated information as each year’s statistics have become available from the province. This report updates that information now that the 2000 (and some 2001) statistics are available and is shown as a five year moving average. In other words, the SFMPCA’s report contains data presented as an average for 1992-96 whilst this report deals with the average for 1996-2000.

Where applicable, prior years’ figures have been adjusted for inflation based on the Consumer Price Index (CPI) for BC. Where data has been expressed in per capita terms the 1996 Census figures have been used, which are the latest numbers shown in the Municipal Blue Book statistics.

It is intended that this report will assist Council and other readers in determining the City’s financial status as it compares to its peers. It will continue to provide an additional tool to help in the budget process and to monitor the City’s progress in relation to its ten year financial management plan.

POPULATION
COMPARISON

Quesnel 8,468
Nelson 9,585
Castlegar 7,027
Kimberley 6,738
Salmon Arm 14,664
Merritt 7,631
Golden 3,968
Revelstoke 8,047