Vernon City Council at the regular meeting Monday, Oct. 27 (photo by Liam Verster / Vernon Matters)

By Liam Verster

City Financial Report

City of Vernon’s revenues outpacing expenditures

Oct 28, 2025 | 12:15 PM

The municipality has brought in more money than it spent so far this year.

A report on the City of Vernon’s third quarter (Q3) finances said the city had generated $93.85-million in revenue as of September 30, 2025, including $11.85-million generated during the most recent three month period. That total reflected approximately 79 per cent of the annual budgeted revenue.

It was also noted that the city had recorded $61.93-million in taxation revenue, which was slightly below the forecasted $61.97-million.

Meanwhile, the city’s expenditures as of the end of September totaled $72.5-million, or 61 per cent of the budgeted annual operations costs.

The mayor said the city was managing its money well, but did note that the expenses were expected to increase in the last few months of the year.

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“The city is operating fine,” Mayor Victor Cumming told Vernon Matters following the regular meeting Monday, October 27, where the financial report was presented.

“It’s difficult until you get right to the end of the year because some expenses are higher at the end of the year when the bills come due. Some of us have households like that where the bills come due a little bit earlier and the revenue comes a little bit earlier, but we’re in fine shape moving forward.”

The report also noted that the city’s investment portfolio totaled $107.7-million as of the end of September. The portfolio saw a growth of 4.37 per cent in Q3, down from a yield of 5.01 per cent in the previous three months, though it was predicted to stabilize more towards the end of the fiscal year, as predicted with changes to the provincial and national economic climates.