15-Year Long Term Financial Plan Breakdown

At the Special Public Consultation meeting on Tuesday, February 20th,  Director of Finance, Tania McCabe presented to Mayor and Council the Guide to the 2018 Draft Budget.

The presentation broke down the 15-year long term plan and what projects are on City’s radar. Many projects, upgrades and concerns listed are the very same the locals have as well; Water Utility for Revelstoke as well as Big Eddy’s Water Plan, Sewer and Long Term General Plan.

With the 4.5% tax increase upon us, many will wonder where it is to be allocated, this package has it all broken down and explained as to why we are going to be seeing an increase and the justification behind it.

One of the increases is $60,000 for an additional Building Inspector and $70,000 for a Civil Technician which is needed due to our booming development sector.

One key note, is that the 4.5% tax increase (proposed) will not be across all tax classes.

Residential will see a 4.9% increase, Businesses will see a 3.4% increase, Seasonal will see 4.5% and Major/Light industry will see 4.5% increase. Expect to see a 5% increase in water and sewer rates and 1.7% increase for garbage rates for residents after Council approves this proposal.

At the public meeting, three individuals were in attendance who had a few questions about certain aspects of the proposed budget in which Mayor McKee answered them accordingly and with conviction.

Below is the attached document with specific breakdown to the financial plan.

Guide to the 2018 Draft Budget Long Term Financial Plan 2