Spallumcheen residents looking at minimal tax hike

Township of Spallumcheen council got its first view of the proposed five-year financial plan for 2023-27 Monday, Feb. 6.

And the plan remains consistent with past budgets.

The budget reflected in the plan scripted by chief financial officer Deb Clipperton shows a 2.5 per cent increase to taxation. Over the past five years, Spall residents have seen a 2.46 per cent increase.

“Expense increases impacting the budget are funded from a variety of sources,” said Clipperton in her report to council. Sources include a variety of anticipated revenue streams:

• Small Communities Protection grant funding;

• Increased building inspection and planning application revenue;

• Interest on investments;

• Mining revenue, and;

• Franchise fees.

Additional revenues such as anticipated land sales are helping to fund expenses in the planning and development department.

Other funding sources such as new growth and reserves are available to help offset anticipated expenses in the proposed budget keeping the proposed taxation increase to 2.5 per cent for 2023.

The public can have a look at the first draft of the financial plan at an open house Thursday, Feb. 23, from 4:30-5:30 p.m.

Council will get a look at draft No. 2 on March 6.

The township’s water operating and capital budgets will be presented at the March 6 Committee of the Whole meeting.

“The financial plan is the best estimate that we can make,” said Clipperton. “We will continually update the plan as new information becomes available.”

@VernonNews
roger@vernonmorningstar.com
Like us on Facebook and follow us on Twitter.

budget North Okanagan Regional District taxes