The Thompson-Nicola Regional District Board approved its 2011-2015 Financial Plan at their Mar. 24, meeting. The TNRD is required under the Local Government Act to have a financial plan adopted by March 31 annually.
An increase in tax requisition amounts is as follows: on average assessed properties within the City of Kamloops will see a $1 increase in taxes; member municipality average assessed properties will see a range from a decrease of $15 (Barriere) to an increase of $6 (Ashcroft); and electoral area average assessed properties will see a range from a decrease of $45 (Electoral Area P) to an increase of $18 (Electoral Area O).
“Tax increases are due to assessment changes, and the introduction of new services, or service level changes,” said Sukh Gill, deputy administrator/director of Finance. “This financial plan incorporates drawing down on operating reserves to the amount of $1.3 million.”
The Financial Plan represents an amalgamation of requests from directors, service committees and staff estimates of the funding required to continue providing service levels as indicated by the Board. The 2011 Financial Plan incorporates all program changes, capital items and personnel changes that have been approved by the Board since the presentation of the Provisional Budget last December.