RDEK Approves 5-Year Financial Plan

The Regional District of East Kootenay has adopted its Financial Plan for the years 2011-2015.

The 2011 budget is $31.4 million, which represents an overall increase of 3% over last year. This includes
a number of items that are specific to certain service areas. When those items are set aside, the 2011
operating budget for services shared by most municipalities and electoral areas in the region, represents
a 0.1% decrease  from 2010. “The Board and staff have worked diligently to maintain service levels and
keep increases to a minimum.  I am pleased with the budget we’ve adopted,” says RDEK Board Chair,
Scott Manjak.

It is important to understand that there is a difference between the numbers in the budget and the effect
those numbers will have on individual tax rates. Residents  of the RDEK  will be affected  differently,
depending on the municipality or electoral area in which they live.  On average, rural residential properties
in the RDEK will see approximately a 5% overall decrease  in their tax levy.  Area A will see  the largest
decrease of 22% while  increased property assessments have resulted in an average 3.7% increase in
Area B.

“Unlike  a municipality that has one boundary and one set of taxpayers, different areas  of the RDEK
require different services  and these are paid  for only  by the taxpayers of each  specific service  area,”
explains  Manjak. “In addition, even though there may be increases in the requisition amount, new
development in parts of the region will offset some of that impact on taxpayers.”

Tax calculations are expected to be complete by  early-April when 2011  revised assessed values are
available.

Highlights in the 2011 budget include the Fernie Landfill closure, a region wide wildfire protection plan for
all rural areas, the RDEK Board Room project and Community Works Fund Trails Grant.

The 5-Year Plan for 2011-2015 was formally adopted by the RDEK Board today.

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Posted in RDEK Public Hearings / Meetings. Tags: . Comments Off on RDEK Approves 5-Year Financial Plan
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