The City’s resources and operations are separated into various funds. The use of these funds is restricted by the Community Charter and associated municipal bylaws.
- The City's largest fund which covers all municipal operations (aside from the utilities and airport funds)
- Not allowed to operate at a deficit
- Operates the water utility within specific areas of the City not served by water districts
- Revenues within this fund, or prior years’ surplus, must be sufficient to cover all operating and capital costs of this utility on an annual basis
- Carries out the capital construction, operation and maintenance of wastewater treatment including sewer mains, lift stations and treatment facilities
- Revenues generated in this fund, or prior years’ surplus, must be sufficient to offset all operating and capital costs of this utility on an annual basis
- FortisBC operates the City of Kelowna's electrical utility, with the City receiving guaranteed annual funds.
- Operates the Kelowna International Airport
- Responsible for capital construction and ongoing administration, operation and maintenance
- This fund is required to be self-sufficient so that revenues generated must offset all operating and capital expenditures
Natural Gas Fund
- Provides for the costs of the capital lease of the gas distribution system and the revenues generated from the operating lease-back
- This fund is required to be self-sufficient so that revenues generated must offset
all operating and capital expenditures
- Created to facilitate the borrowing and repayment of the Ellis Street Library Branch mortgage
In March 1997, the Library Society acquired the land and newly constructed building from the City and borrowed $5.1 million to finance the unfunded portion of the acquisition. The Library Society will transfer to the City’s General Fund the land and building at the retirement of the debt for a nominal amount in 2017.
Land Sales Reserve Fund
- Sales proceeds from all properties disposed of by the City are required to be placed in this reserve fund
- Council may, by bylaw, use this fund to purchase land for general municipal or utility purposes
Parking Reserve Fund
- Provide funds to purchase land for parking lots, develop on-street parking and to construct parking lots or parkades
- The General Fund appropriates net revenues from the operations of parking lots, parkades and parking meters to the Parking Reserve Fund
Capital Works, Machinery and Equipment Reserve Fund
- Provide funds for such items as the purchase of replacement equipment, retirement of capital debt and replacement of cemetery property
- Revenue for this reserve is provided from various sources within the General and Utilities Funds
The City of Kelowna also maintains reserves for future expenditures. In the financial plan the use of these reserves for future expenditures is shown under Accumulated Surplus for either revenues or expenditures.
Deferred Development Cost Charges
- Collected to provide funding for required expansion of roads, drainage works, water works, sewer works, parkland acquisition and wastewater treatment facilities resulting from new development
- Monies collected may only be used for the specific purpose and in the specific area for which the funds were collected