Council endorses 2020 budget carryovers
Council’s endorsement of the City’s 2020 Carryover budget requests on Monday, March 23, will advance work being done to bolster community safety resources, help address complex social issues, continue to build on our transportation network and support our commitments to addressing climate change and environmental protection.
Budget carryovers include $126 million in operating and capital carryover expenditures for projects deferred from 2019 or that are multi-year projects set for completion within the next few years.
“As these projects were previously approved by Council, they do not add to the taxation demand for 2020,” said Melanie Antunes, Acting Financial Planning Manager. “The majority, 56 per cent, will be funded through the City’s general fund sources and the remaining 44 per cent come from self-funding sources such as the water utility, wastewater and the Airport funds.”
The process to secure and outfit an RCMP Mobile Command Centre to enhance tactical support, search operations, communication needs and community outreach.
Several items relating to the SEKID (South East Kelowna Irrigation District) integration project, supporting a resilient and high-quality water supply across the City Water Utility.
Continuing to support our Healthy Housing Strategy through additional affordable housing land acquisition.
There are three stages of the City’s annual budget process: provisional budget in December, carryovers in March and the final budget that will be presented on April 27, 2020. At that time, Council will consider the final budget for adoption, setting the final taxation demand increase.
Following budget deliberations in December, Council approved a provisional overall taxation increase of 4.15 per cent. This includes a 2.33 per cent increase for general municipal tax demand increase for 2020 and a 1.82 per cent infrastructure levy increase which was previously approved in the 2019 budget. On average, this means an $86 increase on a City of Kelowna residential property tax bill (based on an average home assessed at $670,900).
For more information about the City of Kelowna’s budget and to view the 2020 Financial Plan, visit kelowna.ca/budget.