The City of Kelowna has fared well financially through the COVID-19 pandemic and the current economic turmoil.
That is the conclusion of a report by financial services staff, which also recommends changes to performance measures and regular reporting throughout the fiscal year to improve governance and financial oversight.
Staff will showcase a new financial health dashboard to council at its Feb. 13 meeting.
“The new suite of indicators being recommended, will better address key organizational risks in the current economic climate as well as financial constraints that are specific to the city and municipalities,” the report states.
Staff use performance measures and financial reporting to inform council and the public how the city is performing year-to-year, and how prepared it is to meet future obligations.
Council approved a 3.80 per cent budget increase for property owners in December 2022 during budget deliberations.