Lake Country opening financial plan for public discussion - InfoNews

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Lake Country opening financial plan for public discussion

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December 20, 2018 - 2:14 PM

LAKE COUNTRY - Lake Country residents will have their say on the proposed financial plan for the community in the new year.

The District of Lake Country staff presented their draft for the five-year financial plan at a council meeting last week for first reading. In January 2019, the District will host a series of public input sessions so community members can ask questions and concerns about the plan.

According to the B.C. Community Charter, municipalities must draft five-year financial plans annually, and the plan typically lists revenues, expenses and tax rates.

This year's financial plan proposes a 4.9 per cent tax increase for the fire specified area. This increase is aimed to cover the debut accrued by the construction of a new fire hall in Lake Country, which received voter approval in a referendum last October.

The plan also suggests a 3.8 per cent increase in general municipal taxes to help reserve funds. Of the 3.8 per cent increase, 1.8 per cent is earmarked for the Transportation for Tomorrow plan, which focuses on roadway infrastructure. The increase will add $185,118 to the plan's reserve.

At a household level, these increases would mean the average family will pay $160 in additional tax annual ($90 for the fire hall, $32 for Transportation, and $38 in general tax increase to address in inflation).

The plan detailed that the District's total predicted revenue for 2019 will be $32,022,265, which is expected to rise gradually over the five years.

The plan will be up for public discussion in January 2019 before it returns to council in February for adoption following any possible changes or recommendations.

The full financial plan can be found here.


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