Appendix
Schedule A - Changes to tax-funded items
April 12, 2022Page 1351 section
A spreadsheet detailing specific budget adjustments for tax-funded projects and operations since the initial plan was published in February 2022.
Includes an additional RCMP member starting Nov 1/22 ($22,100 impact in 2022)Elimination of debt servicing for Fire Services vehicle replacement ($78,675 reduction)Revised total property tax revenue required for 2022: $10,012,854
2022-2026 Financial Plan-for approval
Schedule A Changes to tax-funded items
Budget workshop sessions February 15-17 and 22, 2022 and subsequent items
Note: Changes at February budget workshops in black text; Changes subsequent to February workshops in red text.
| 2022-2026 Financial Plan published February 4, 2022 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Tax revenue from existing assessments | 9,468,761 | 9,982,668 | 10,761,016 | 11,250,881 | 11,543,822 | 11,891,848 |
| Estimated tax revenue from new construction | (43,363) | 60,958 | 100,000 | 100,000 | 100,000 | 100,000 |
| Total property tax revenue required | 9,425,398 | 10,043,626 | 10,861,016 | 11,350,881 | 11,643,822 | 11,991,848 |
| % increase to prior year assessed properties | 4.53% | 5.87% | 7.07% | 3.56% | 1.68% | 2.11% |
Tax requirement increase (decrease)
| Item | Item description | Account or PS reference | 2022 | 2023 | 2024 | 2025 | 2026 | Comments |
|---|---|---|---|---|---|---|---|---|
| NON-CORE & CAPITAL | ||||||||
| 1 | Additional RCMP member Nov 1/22 (C-14-22) | N-054 | 22,100 | 82,000 | - | - | - | Advance addition of one FTE RCMP member |
| 2 | Six Mile Rd Improvements | C-018 | (1,500) | (3,500) | Defer one year, defer operational costs | |||
| 3 | Centennial Park Toilets | C-094 | (3,000) | (3,000) | (3,000) | (3,000) | (3,000) | Remove project, remove operational costs |
| 4 | Disc golf course | C-116 | (250) | Defer one year, defer operational costs | ||||
| 5 | Hart Rd Lime Kiln | C-111 | (1,000) | (1,500) | Defer one year, defer operational costs | |||
| 6 | Fire Services vehicle repl - 1992 Superior E-one | C-113 | (78,675) | (78,675) | (78,675) | (78,675) | Fund from Casino, eliminate debt servicing | |
| OPERATIONAL | ||||||||
| 10 | Additional Council members | 1-2-01100-2xx | 10,673 | 45,700 | 46,600 | 47,500 | 48,500 | Funding for remuneration, tablets, conferences |
| 11 | Revised revenue estimate-FortisBC fee | 1-1-00340-123 | (13,000) | - | - | - | - | Based on anticipated revenue |
| 12 | Public art acquisition | NEW N-093 | 500 | 500 | 500 | 500 | Ongoing incremental operational costs | |
| 13 | Public relations-misc services | 1-2-01200-580 | (10,000) | Canada Day event | ||||
| 14 | Transportation admin-salaries | 1-2-03100-201 | (10,000) | Temporary personnel vacancy | ||||
| 15 | Fire vehicles-maintenance | 1-2-02160-680 | (10,000) | Defer maintenance | ||||
| 16 | Eliminate Parks Improv reserve contrib increase | 1-2-01023-860 | (20,000) | Reduce to same level as in prior year | ||||
| 17 | Revised cost estimates - policing | 1-2-02000-310 | 79,300 | 86,000 | 89,700 | 93,400 | 94,200 | Based on revised costs from RCMP |
| TRANSFERS | ||||||||
| 17 | WSPR requisition transition-defer for one year | 1-1-00557-866 | (47,150) | (47,150) | (47,150) | (47,150) | (47,150) | Defer start of transition by one year |
| 18 | Fund elections from surplus | 1-1-00500-170 | (27,195) | (22,080) | Election costs net of recovery (1-1-00330-199) | |||
| Total | (30,772) | 80,125 | 7,975 | 12,575 | (7,705) |
2022-2026 Financial Plan, as revised
| 2022 | 2023 | 2024 | 2025 | 2026 | |
|---|---|---|---|---|---|
| Revised property tax revenue requirement | 9,951,896 | 10,841,141 | 11,258,856 | 11,556,397 | 11,884,143 |
| Non-market change estimate | 60,958 | 100,000 | 100,000 | 100,000 | 100,000 |
| Revised total property tax revenue | 10,012,854 | 10,941,141 | 11,358,856 | 11,656,397 | 11,984,143 |
| Revised % increase | 5.55% | 8.19% | 2.88% | 1.72% | 1.94% |
Page 135
Extracted from: 2022 04 12 Committee of the Whole Agenda - Agenda - Pdf