Budget projections don't include tax increase for 2013 | iNFOnews | Thompson-Okanagan's News Source

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Budget projections don't include tax increase for 2013

Image Credit: (SOURCE: CIty of Penticton)
December 06, 2012 - 4:28 PM

The City of Penticton plans to dig money out of reserves rather than raising taxes to cover some areas running a deficit.

Along with keeping the tax rate the same, the City says there'll be no staffing increases and no changes in service levels. 


One area sited as running a deficit was the operating budget for the South Okanagan Event Centre, expected to be $1.38 million over this coming year.


Other areas appear to be doing better than expected. A subsidy for recreation was originally projected at $1.15 million and has been reassessed at $562,869 for 2013.


Even so, the overview for the City is a deficit of $1.156 million. The projected tax increase of 4.6 per cent was suspended for the coming year though deficits are expected to trend over the next five years.


The next meeting runs Fri., Dec. 7 and will include Capital and General Capital budgets, and Utilities Operating. 


The public is encouraged to attend but those unable to participate through the day can still take part.


All budget meetings are streamed live on the City of Penticton's website. The online video functions on all platforms and mobile devices.


City staff are monitoring Twitter on the City's @cityofpenticton account. Citizens can use the hashtag #penbudget13 to give the City comments, suggestions and questions. These are being presented to council verbally and reposes are provided directly back to the original poster as quickly as possible.


While this service has been offered since Nov. 29, the next opportunity to join the process is Dec. 7 from 9 a.m. to 4:30 p.m. Following that, the next opportunity is Dec. 13 from 9 a.m. for a special meeting of Council's first three readings of the budget bylaw.


Final adoption of the 2013 budget bylaw is scheduled for Monday, Dec. 17 during the regular meeting of council. All meetings are scheduled to take place in council chambers in City Hall. 


Links to the live feed, and to download the financial plan for 2013 are available on the City of Penticton website.

News from © iNFOnews, 2012

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