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The five-year financial plan process

The Local Government Act requires the RDCO to develop and approve a five-year Financial Plan by March 31 each year. The RDCO financial plan consists of more than 80 budgets funding the delivery of regional, sub-regional and local services to over 195,000 residents, businesses and visitors throughout the region. Various trends and variables impact the financial plan including, but not limited to, economic conditions, population growth, demographics, climate change, and regulatory or legislative amendments. The financial plan aims to balance these factors in alignment with the Board approved strategic priorities, as well as corporate and service plans.

This 5-year financial plan is updated annually.

2025

On March 20, 2025, the Regional Board for the Regional District of Central Okanagan (RDCO) District adopted the 2025-2029 five-year financial plan.

The 2025-2029 financial plan outlines a total operating budget of $70.8 million for the organization in 2025, up 7.2% or $4.8 million from $66.0 million in 2024.

"This financial plan delivers what matters most to our community—safety, essential services, and park investments for our rapidly growing region," says Loyal Wooldridge, Chair of the Regional Board. "We are enhancing emergency management, upgrading critical infrastructure, and prioritizing environmental stewardship to meet the evolving needs of our residents. Every dollar is invested with care, ensuring a safer, healthier, and more sustainable future for everyone in the Central Okanagan."

An estimated $34.2 million in capital and infrastructure improvements are planned for 2025. These costs are funded predominantly through reserves, with funding from grants where available. Projects funded from the Growing Community Fund grant in 2025 include:

  • $4,000,000 in grant funding for engineering, design and construction of a new facility for Central Okanagan Search and Rescue (COSAR).
  • $1,050,000 in grant funding for advancing the implementation of a curbside food waste collection service.
  • $275,000 for playground replacements in Mission Creek and Scotty Creek parks.

Unlike municipalities, regional districts do not have one tax rate. This means that the impact on each property owner varies depending on where they live, the services they receive and the value of their property. Preliminary average tax impacts for each community within the Central Okanagan are outlined below:

 

MemberAverage house valueAnnual tax per house$ Change per avg house over prior year% Change per avg house over prior year

Kelowna

$931,014

$293

$12 4.3%

Lake Country

$919,625

$272

$16

6.1%

Peachland

$1,014,613

$296

$8

2.9%

West Kelowna

$974,766

$309

$14

4.7%

C.O. East

$545,663

$1,317

$81

6.6%

C.O. West

$915,894

$1,139

$74

7.0%

* excludes local service area taxes (e.g. fire protection, community centers, transit)

 

The Regional District does not collect taxes directly. The RDCO requisitions funds from each local government on behalf of their residents and the Province which collects rural property taxes in each electoral area. It is important to note that the RDCO serves as the primary local government for Electoral Area East and West, while municipalities pay an RDCO tax rate in addition to their municipal tax rate.

Residents can expect to receive their tax bill in the mail in June, with property taxes due to the Province by July 2, 2025. To view the RDCO specific breakdown for their taxes, electoral area residents can search their address in the tax estimator tool at rdco.com/tax-estimator.

The draft financial plan was presented to the Board in January 2025, and members of the public were invited to provide questions and comments on the plan between January 10 and February 6, including an in-person meeting on January 30.

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. 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.

2024

On March 14, 2024, the Regional Board approved the 2024-2028 Financial Plan.

 

2024-2028 Financial Plan l Bylaw No. 1543

 

The 2024-2028 Financial Plan outlines a total operating budget of $65.6 million for the organization in 2024, up 6.7% from 2023. Approximately half of the measured increase was required to maintain existing assets and infrastructure that serve the Region.

 

An estimated $14.5 million in capital and infrastructure improvements are planned for 2024. An additional $6.7 million in capital and infrastructure improvements are also carrying forward from 2023, for a total planned spending on capital of $21.2 million.  These costs are funded predominantly through reserves, with funding from grants where available. New projects in 2024 include:

  • $400K for Engineering and design for a new facility for Central Okanagan Search and Rescue (COSAR)
  • $450K for public education, outreach as well as service design for curbside organics collections
  • $311K for improvements to Kalamoir trail network to increase the options for active transportation
  • $393K for multi-year projects to improve accessibility to regional parks

Regional Districts do not have one tax rate. The actual tax rate can vary from neighbourhood to neighbourhood and by municipality, depending on the level of funding participation and local services provided by the Regional District. 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 2023.

 

Member2024 average house valueTotal tax per average houseNet increase/(decrease) from 2022

Kelowna

$938,890

$276

$6

Lake Country

$1,030,807

$284

$13

Peachland

$909,909

$254

$10

West Kelowna

$983,129

$293

$6

C.O. East

$934, 851

$1,043

$59

C.O. West

$548, 313

$1,193

$169

 

CORHD 2024-2028 Financial Plan

The Central Okanagan Regional Hospital District (CORHD) Board also adopted its five-year financial plan bylaw on March 14.

Each year, ratepayers within the Hospital District contribute up to 40% of the funds for approved capital and equipment services. The 2024 budget includes $32.4 million in capital project funding requested by Interior Health, a $6.0 million or 15% decrease from the prior year.

This means that the average Central Okanagan household will contribute $19.19 for every $100,000 of assessed value towards valuable capital improvements and health equipment. This is a reasonable $0.10 or 0.5% increase compared to 2023.

New projects funded by the financial plan include:

  • MRI replacement and addition at Kelowna General Hospital (KGH) – CORHD share $3.1 million.
  • Interior Health wide digital health project – CORHD share $1.4 million.
  • Equipment under $100,000 – 2024 – CORHD share $1.1 million.
  • Pharmacy upgrades at KGH – CORHD share $1.1 million.

2023 

The Regional District of Central Okanagan (RDCO) Board has approved the 2023 – 2027 Financial Plan. 

2023-2027 Financial Plan | Bylaw No. 1525

 

The 2023 RDCO operating budget totals almost $61.5 million, up 3.5% from 2022.

 

An estimated $18.1-million in capital and infrastructure improvements are planned for 2023 including approximately:

  • $7.8-milllion for Parks
  • $3.4-million for liquid waste systems
  • $2.9-million for Fire and Protective Services
  • $1.7 million for improvements and upgrades to RDCO water systems

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 2022. 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. 

 

Member2023 average house valueTotal tax per average houseNet increase/(decrease) from 2022

Kelowna

$951,000

$194.00

$20.00

Lake Country

$1,029,000

$238.00

$17.00

Peachland

$914,000

$215.00

$16.00

West Kelowna

$1,012,000

$226.00

$21.00

C.O. East

$912,000

$601.00

$20.00

C.O. West

$566,000

$464.00

$45.00

 

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 2023 budget includes $36.7-million in capital project funding requested by Interior Health Authority, an increase of $4.1-million from 2022.  Among the new requests for Hospital District funding: endovascular treatment equipment and additional acute care beds at Kelowna General Hospital.  It’s expected the Regional Hospital District Board will consider an amendment to the Financial Plan at a future meeting to approve $1.68-million in funding for the recently announced new Urgent and Primary Care Centre to serve the people of Rutland and surrounding communities.  

The continued rise in assessments across the region will offset the 5% increase in the Hospital District requisition this year.  That means the average property owner in the Central Okanagan will contribute $19.09 for each $100,000 of assessed value toward funding of health projects in the region, a decrease of just over 9% from 2022.  The average household cost could rise in the future 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 Home Owner Grant webpage. 

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's Tax Deferment Program webpage.

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

2022

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

The 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

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.

 

Member2022 average house valueTotal tax per average houseNet increase/(decrease) from 2021

Kelowna

 $835,598

$220.62

$14.34

Lake Country

 $927,126

$247.95

$17.32

Peachland

 $823,126

$217.95

$22.96

West Kelowna

 $889,866

 $238.69

$18.50

C.O. East

 $852,036

 $478.51

$60.85

C.O. West

 $493,724

 $303.02

$35.57

2022-2026 Financial Plan | Bylaw No. 1502

  • Central Okanagan East tax requisition and rates information
  • Central Okanagan West tax requisition and rates information
  • Financial Plan approved news release

 Central Okanagan Regional Hospital District Financial Plan

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 Interior Health capital and equipment services in the region. Interior Health services that leverage these 40 cent dollars provided by the CORHD return significant social and economic benefits within the Central Okanagan.

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.  

The significant rise in assessments across the region will result in a decrease of $19.45 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.

  • 2022 - 2026 Financial Plan Bylaw No. 1-2022
  • March 3 - Interior Health Authority - Capital Funding Request for 2022 - 2026 Fiscal Year
    • Capital Requests Letter
    • Summary
    • Presentation

Capital Expenditure Bylaws

  • CORHD CEB No. 267, 2022
  • CORHD CEB No. 268, 2022
  • CORHD CEB No. 269, 2022
  • CORHD CEB No. 270, 2022
  • CORHD CEB No. 271, 2022
  • CORHD CEB No. 272, 2022
  • CORHD CEB No. 273, 2022
  • CORHD CEB No. 274, 2022
  • CORHD CEB No. 275, 2022
  • CORHD CEB No. 276, 2022
  • CORHD CEB No. 277, 2022
  • CORHD CEB No. 278, 2022
  • CORHD CEB No. 279, 2022
  • CORHD CEB No. 280, 2022
  • CORHD CEB No. 281, 2022
  • CORHD CEB No. 282, 2022
  • CORHD CEB No. 283, 2022
  • CORHD CEB No. 284, 2022
  • CORHD CEB No. 285, 2022
  • CORHD CEB No. 286, 2022

2021

Regional District of Central Okanagan Financial Plan

The 2021 RDCO budget totals just over $56.8-million compared with $57-million in 2020. This year's budget is fiscally conservative and considers the realities of COVID-19. It addresses the pandemic challenges the community is still facing but also advances projects based on the Regional Board's priority areas. These include Environment, Economic Development, Sustainable Communities, Transportation and Mobility. Operating costs are keeping pace with growth and inflation in the Central Okanagan and include some minor staffing increases. The budgets are also focused on continuing to build capital reserves to address future infrastructure needs.

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 property taxes in each Electoral Area. The tax impacts for general services on the average home that was assessed at $734,000 in 2020 are shown below. Market value increases varied by area from 2020 to 2021. The actual tax rate varies from neighbourhood to neighbourhood and municipality, depending on the local services provided by the Regional District. If a home went up or down by more than the average market value, the owner will pay more or less than the numbers estimated.

 

Member2021 average house valueTotal tax per average houseNet increase/(decrease) from 2020

Kelowna

 $750,000

$190.38

$6.97

Lake Country

 $774,000

$224.66

$13.98

Peachland

 $754,000

$221.76

$8.31

West Kelowna

 $753,000

$210.59

$7.25

C.O. East

 $739,000

 $534.82

($0.49)

C.O. West

 $746,500

 $674.42

$8.49

2021-2025 Financial Plan | Bylaw No. 1475, 2021

  • Amendment Bylaw No. 1485, 2021
  • Amendment Bylaw No. 1484, 2021
  • Amendment Bylaw No. 1481, 2021

Financial Plan Approved News Release

  • Backgrounder
  • Central Okanagan East Tax Requisition and Rates information
  • Central Okanagan West Tax Requisition and Rates information

RDCO

  • 2021 Audited Financial Statements
    • Report to Regional Board
  • 2021 Statement of Financial Information
    • Report to Regional Board

 Central Okanagan Regional Hospital District Financial Plan

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 Interior Health capital and equipment services in the region. Interior Health services that leverage these 40 cent dollars provided by the CORHD return significant social and economic benefits within the Central Okanagan.

The 2021 budget includes $10.2-million in new capital project funding for a total of $32 million. The average homeowner will pay $196.49 for Hospital Taxes (vs. $188.93 in 2020). This is an increase of $7.56.

Within BC, there is still focus on:

  • Primary and Community Care transformation as reflected by the inclusion of several Urgent and Primary Care Centres, Primary Care Networks and Community Health Centre
  • Efforts to improve senior's care with additional need as shown by the pandemic
  • Surgical services
  • Infrastructure investments that aim at maintaining the basic services at Interior Health sites, whether it be on the facility side, equipment replacement or information technology maintenance and expansion

Funding highlights:

  • Construction projects over $100,000 such as Primary Care Networks in Kelowna and Rutland, the Outreach Urban Health site and parking upgrades at Kelowna General Hospital
  • Technology projects like advancement of the Interior Health digital platform allowing exchange of critical patient clinical documentation to both patients and their health care providers
  • Equipment over $100,000 including new equipment for operating rooms, endovascular treatment and cardiac ultrasound machine

Central Okanagan Regional Hospital District

  • 2021 Audited Financial Statements
    • Report to CORHD Board
  • Staff Report - March 29, 2021
  • Bylaw 01-2021

Central Okanagan Regional Hospital District Capital Expenditure Bylaws

1. 2021-03-29 CORHD Approval of New and Amended Capital Bylaws for 2021.pdf

2. Recommendation 1 Background - Rescinding Bylaws.pdf

3. Recommendation 2 - Amending Bylaw 253 and Original Bylaw 249.pdf

4. Recommendation 3 Capital Expenditure Bylaws List.pdf

5. CORHD CEB 254.pdf

6. CORHD CEB 255.pdf

7. CORHD CEB 256.pdf

8. CORHD CEB 257.pdf

9. CORHD CEB 258.pdf

10. CORHD CEB 259.pdf

11. CORHD CEB 260.pdf

12. CORHD CEB 261.pdf

13. CORHD CEB 262.pdf

14. CORHD CEB 263.pdf

Interior Health Capital Funding Request  (Feb. 25 meeting)

2020

RDCO 

2020 Financial Statements

  • Guide to Understanding Financial Statements
  • Report from staff
  • Final Audit Report

2020 - 2024 Financial Plan Bylaw No. 1449, 2020

  • Amendment Bylaw No. 1474 - February 2021
  • Amendment Bylaw No. 1472 - January 2021
  • Amendment Bylaw No. 1470 - December 2020
  • Amendment Bylaw No. 1461 - September 2020
  • Amendment Bylaw No. 1460 - July 2020

Central Okanagan Regional Hospital District Financial Plan

2020 Financial Statements

  • Guide to Understanding Financial Statements
  • Report from staff
  • Letter from Auditors

2020 - Bylaw 01 - 2020 - 2024 Financial Plan 

Audio of Hospital Board Budget Consideration

Staff Presentation

Central Okanagan Regional Hospital District Capital Expenditure Bylaw

1. 2020-03-23 CORHD Approval of new Capital Bylaws for 2020.pdf

2. CORHD Cap Bylaw No. 238.pdf

3. CORHD Cap Bylaw No. 239.pdf

4. CORHD Cap Bylaw No. 240.pdf

5. CORHD Cap Bylaw No. 241.pdf

6. CORHD Cap Bylaw No. 242.pdf

7. CORHD Cap Bylaw No. 243.pdf

8. CORHD Cap Bylaw No. 244.pdf

9. CORHD Cap Bylaw No. 245.pdf

10. CORHD Cap Bylaw No. 246.pdf

11. CORHD Cap Bylaw No. 247.pdf

12. CORHD Cap Bylaw No. 248.pdf

13. CORHD Cap Bylaw No. 249.pdf

  • 2020 Mid-Cycle Budget Requests and Budget Amendment (staff report)
    • 2020-2024 Financial Plan Amendment Bylaw No. 2-2020
    • CORHD Capital Expenditure Bylaw No. 250
    • CORHD Capital Expenditure Bylaw No. 251
  • CORHD Capital Expenditure Bylaw No. 252 - January 2021

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Regional District of Central Okanagan

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Phone: 250-763-4918
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The RDCO acknowledges our presence on the traditional, ancestral, and unceded tm̓xʷúlaʔxʷ (land) of the syilx / Okanagan people who have resided here since time immemorial. We recognize, honour, and respect the syilx / Okanagan lands upon which we live, work, and play.

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