The Regional District of Okanagan-Similkameen has been diving into the 2022 draft budget for electoral areas, municipalities and the Penticton Indian Band.
The first reading has been completed and video presentations have been posted on the RDOS YouTube channel, which can be found here.
Second readings are scheduled for the Feb. 17, 2022
The budget public engagement process will continue until Feb. 10, 2022. Due to COVID-19 restrictions, in-person presentations are not currently scheduled.
2022 marks the first year capital and operating expenses are divided into two separate budgets for the district. This step creates a baseline budget to ensure operating expenses are consistent.
The RDOS shared that their Manager of Finance, Jim Zaffino, introduced a recommendation to the Board that no capital projects are to be funded directly from taxes. In addition, non-market growth (additional new properties and improvements) increases the overall assessment role.
"This allows the Board to either reduce the tax requisition, increase services, or increase transfer to reserves," their press release states.
RDOS managers are now required to complete a detailed request form including information about why capital expenditures are required for 2022. RDOS staff are also required to produce up to a five-year capital plan with funding information.
The 2022 draft budget is subject to change prior to being adopted, which is scheduled for the beginning of March.
Copies of the financial statements or the annual budget can be obtained through contacting the finance department at [email protected]