Kelowna budget carryovers won’t add to taxation demand

Kelowna budget carryovers won’t add to taxation demand

Council’s carryover budget requests will advance work for the city

Council’s endorsement of the City’s 2019 Carryover budget requests on Monday, March 18, will advance work being done on balanced transportation networks, park expansions, continued flooding recovery and providing clean drinking water into 2019.

Budget carryovers include $143 million in operating and capital carryover expenditures for projects set for completion in the next two years.

“These requests are multi-year projects previously approved by Council and do not add to the taxation demand for 2019,” said budget supervisor Melanie Antunes.

“The majority, 60 per cent, come from self-funding sources such as the water utility, wastewater and the Airport funds, and the remaining 40 per cent will be funded through the City’s general fund sources.”

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Highlights of 2019 carryovers that contribute to making Kelowna a great place to live include:

  • · The planned completion of Phase four of the Ethel Street Active Transportation Corridor to expand the bicycling network for all ages and abilities
  • · Several park expansions including Dewdney Park and Rutland Centennial Park Phase three and continued development on the Okanagan Rail Trail are planned for 2019 to help create great public spaces that bring people together
  • · Keeping us safe and our community resilient, work will continue on recovery projects from the impacts of the 2017 flooding and 2018 freshet
  • · Phase one of the multi-year Kelowna Water Integration Plan will bring clean drinking water to Southeast Kelowna and a reliable source for agriculture in the South Mission.

The City’s annual budget process has three stages: provisional budget in December, carryovers in March and the final budget will be presented on April 29. At that time, Council will consider the final budget for adoption, setting the final taxation demand increase.

Following budget deliberations in December, Council approved a provisional overall taxation increase of 4.43 per cent, which includes a 2.48 per cent general municipal taxation demand increase for 2019 and the approval of a 1.95 per cent infrastructure levy as one of the ways to address the City’s capital deficit. On average, this means an $88 increase on a City of Kelowna residential property tax bill (based on an average home assessed at $682,260).

For more information about the City of Kelowna’s budget and to view the 2019 Financial Plan, visit kelowna.ca/budget.

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@KelownaCapNews
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