Governance & Services Committee Meeting

March 9, 2017

� Overview

� Budget Update Report Review

� Public Input

� For Discussion

� Changes – Feb 23rd G&S Meeting &

Additional Info Received

� Public Meeting and Final Adoption of

Financial Plan – March 27th Board

Meeting

2017 2017 2017 2017

Total Tax per HouseChange per Avg

House over 2016

Total Tax per

House

Change per

Avg House

over 2016

Kelowna $179.54 $594,000 $176.52 $ (3.02) $176.52 $ (3.02)

-1.68% -1.68%

Peachland 208.09 587,000 $201.74 $ (6.35) $201.74 $ (6.35)

-3.05% -3.05%

Lake Country 203.78 605,000 $204.97 $ 1.19 $204.97 $ (1.19)

0.58% -0.58%

West Kelowna 196.87 591,000 $193.78 $ (3.09) $193.78 $ (3.09)

-1.57% -1.57%

C. O. West 657.80 587,000 $638.15 $ (19.65) $638.15 $ (19.65)

-2.99% 18.60%

C. O. East 511.82 601,000 $503.83 $ (7.99) $503.83 $ (7.99)

-1.56% -1.56%

2016 Total Tax

per House.

Avg House

Value $539,000

2017 House

Value

Feb 23 Draft Mar 9 Draft

City of Kelowna:

2017 2016

Total Tax Req. $11,354,435 $11,409,836

Decrease: ($55,400) (0.49%)

Peachland:

2017 2016

Total Tax Req. $514,300 $522,704

Decrease: (-$8,404) (-1.61%)

Lake Country:

2017 2016

Total Tax Req. $1,242,036 $1,200,960

Increase: $41,076 3.42%

West Kelowna:

2017 2016

Total Tax Req. $2,778,743 $2,811,960

Decrease: (-$33,217) (-1.18%)

EA CO West:

2017 2016

Total Tax Req. $1,071,323 $1,095,309

Decrease: (-$23,985) (-2.19%)

EA CO East:

2017 2016

Total Tax Req. $778,101 $782,155

Decrease: (-$4,054) (-0.52%)

Westbank First Nation:

2017 2016

Total Service Agmt $589,676 $602,226

Decrease: (-$12,550) (-2.08%)

� From $177/average house in Kelowna to

$205/average house in Lake Country:

◦ RDCO general services taxes represent

approximately 5.5 - 6% of the total average

municipal tax notice.

Draft 1 Draft 2

23-Feb 9-Mar Difference

General 7,754,606 7,432,121 (322,485)

Water 4,401,406 4,401,406 -

Sewer 3,702,263 3,702,263 -

Total 15,858,275 15,535,790 (322,485)

The 2017 budget sheets (Tab 8):

� The revised budget sheets have been included in your packages.

� 8 Budgets changed (see Agenda Item 6.1.1)

� Annual Year in Review Presentation made by CAO Feb 23rd G&S Meeting.

� Surplus / Deficits report was reviewed and explained at that time.

� Full Report provided annually at request of Board - Tab 14.

� “Summary” Report is included as an attachment to the Board Report for

agenda item 6.1.1

� Requisition decreases

� Tax decreases for majority of average homes.

� Total Operating Expenses increased by less than 1.5% over 2016 budget.

� Amounts transferred to capital and reserves increased by 14.5% over 2016 budget.

� $15.5m Capital and infrastructure improvements/ additions.

� Over $98m in Capital Spending over 9 years and minimal debt, continuing to build reserves.

� March:

� March 27th – Formal Public Consultation and

Final Board adoption of 5 Year Plan in the form of

a Bylaw.

� April:

� Final calculation and requisition submission

based on Final Adoption and BCAA Revised Roll.

April 10th deadline.

2. Public Input

3. Recommended Resolutions:� THAT the Governance & Services Committee receive

for information the updated and additional 2017 –2021 Financial Plan documentation;

� AND FURTHER THAT staff be directed to bring forward any recommended amendments discussed today to the Regional Board’s Final Budget meeting scheduled for March 27, 2017.