By Tom Mark

RDNO Adopts Five Year Financial Plan

Mar 9, 2018 | 6:07 AM

The Regional District of North Okanagan Board of Directors has approved the District’s 5 year financial plan.

Chair Bob Fleming says there is a tax increase of 2.9 per cent.

“However, that’s 2.9 per cent before growth is factored in. So growth in the area is variable but it ranged between point 4 and three per cent.”

Fleming says the region has been able to keep costs at a stable level to ensure an inflationary increase at most.

‘We’re actually at general government sitting now this year at 918 thousand and three years ago it was a million dollars so it’s actually been reduced by more than 10 per cent and it’s just edged up slightly so from that point of view it’s one of the things that is being controlled at the regional district.”

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The plan does include some big dollar items.

“The purchase of the CP Rail corridor in the north. So this is the first time this will appear on people’s taxes in those affected areas. We’ve got a full year coming up now of tax assessment for the borrowing related to the Kal Tire Place expansion.”

There are also some water projects to be done.

The plan forecasts balanced budgets through 2022.

by Tom Mark