December 10, 2013 - 9:31 AM
KAMLOOPS – Alongside the five-year financial plan city council will be presented with proposed rate increases to sewer fees and property taxes Tuesday afternoon.
The plan outlines the basic services for the city and the preliminary tax rate increase, currently at a 1.99 per cent increase for the general fund and five per cent increase for the sewer utility fund for a total of about $48 per average household.
With over $1.4 million in wage and benefit increases coming to the city next year coupled with other rising costs such as vehicles and hydro the city has to find an additional $1.8 million in the budget this year, and that's before adding any supplementary projects or requests.
The general operating fund anticipates similar needs in the coming five years and estimates increases of 2-3 per cent will be needed through 2017 and the sewer operating fund is set to increase by six per cent every year through 2017 as well.
The plan is being presented to council so that 2014 utility rates can be set for the new year and on Feb. 4 council members will see the additional operating requests at a budget meeting before presenting the requests to the public on Feb. 25 at an information session. A month later council will come back to the table to hammer out the final details of the budget and in April the final budget for 2014 will be set. By the April meeting city revenues will be confirmed which will give a clearer picture of what the actual tax rate will be.
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News from © InfoTel News Ltd, 2013