Financial Plan approved

The Regional District of Central Okanagan (RDCO) Board has approved the 2022 – 2026 Financial Plan.

RDCO Budget

The 2022 RDCO operating budget totals just over $59-million, up 2.5% from 2021.

Regional Board Chair Loyal Wooldridge says, “This year’s budget prioritizes the ongoing support needed for those recovering from last summer’s devastating White Rock Lake wildfire and to bolster the regional emergency management program. The Board is advancing the important work of Truth and Reconciliation with Indigenous communities to embed Indigenous wisdom into the organization. Operating costs are responsible, keeping pace with growth and inflation and include some key staffing additions needed to meet service demand from residents.”

In this budget an estimated $16.9 million (down $2.42 million from 2021) in capital and infrastructure improvements are proposed including approximately:

• $7.5-milllion for Parks
• $4.1-million for liquid waste systems
• $2.1-million for Fire and Protective Services
• $1.7 million for improvements and upgrades to RDCO water systems

“We know park space and natural areas support the health of our residents and it is our responsibility to ensure they are protected and resilient in the face of climate change. Our regional parks management plans make our natural areas more accessible and protect ecosystems. The continued investment into the Westside Regional Wastewater Treatment Plant and funding water system upgrades to continue to provide safe drinking water in our communities,” added Wooldridge. 

Unlike municipalities, the Regional District does not collect taxes directly. It requisitions funds from each local government on behalf of their residents and the Province which collects rural property taxes in each electoral area.

The tax impacts for general RDCO services on the average home in each specific area are shown in the following table. Market value increases vary by area from 2021. The actual tax rate varies from neighbourhood to neighbourhood and by municipality, depending on the level of funding participation and local services provided by the Regional District. 

 Central Okanagan Regional Hospital District

The Central Okanagan Regional Hospital District (CORHD) Board also approved its Five Year Financial Plan.  Each year, ratepayers within the Hospital District contribute up to 40% of the funds for approved capital and equipment services. The 2022 budget includes $39.3 million in capital project funding requested by Interior Health Authority, an increase of $9.5-million or 41% from 2021.  Among the new requests for Hospital District funding: a pharmacy update at Kelowna General Hospital, replacement of an existing MRI unit and installation of an additional MRI and a new CT scanner. 

Hospital Board Chair Loyal Wooldridge says, “Health care continues to be extremely important for Central Okanagan residents. Funding provided by the Regional Hospital Board supports a wide range of health care capital projects and provides much needed health care equipment in the Central Okanagan. On behalf of the Regional Hospital Board, I would like to thank the many health care workers tirelessly supporting our community, and we look forward to supporting ongoing projects that help them deliver the best possible care for their patients and clients.”

The significant rise in assessments across the region will result in a decrease of $27.16 in the requisition this year by the Hospital District.  That means the average property owner in the Central Okanagan will contribute $169.48 toward funding of health projects in the region, a decrease of just over 10% from 2021. It is expected that the average household cost will rise over the next four years to continue providing adequate reserves for future Interior Health funding requests.

Homeowner grants and tax deferral

Central Okanagan property owners may be eligible for the Provincial Homeowner Grant. Information will be available on your Property Tax Notice or visit the Ministry of Finance website:  www.sbr.gov.bc.ca/individuals/Property_Taxes/Home_Owner_Grant/hog.htm

Some property owners may qualify for assistance through the BC Property Tax Deferment Program.  Information about this program and who qualifies is available on the BC Government website:  www2.gov.bc.ca/gov/content/taxes/property-taxes/annual-property-tax/defer-taxes

For more information on Regional District of Central Okanagan budgeting visit rdco.com/budgets.