Dr Draft 2 - Budget get and Fi Financi cial al Pl Plan - PowerPoint PPT Presentation

Dr Draft 2 - Budget get and Fi Financi cial al Pl Plan  Background information reviewed at Feb. 17 th meeting.  Draft 1 reviewed page by page and changes were requested Feb. 17 th .  For discussion – to show impact of all initiatives previously identified.  Working document for Board to provide direction to staff for next meeting.

Budget Timeline  March: ○ Recalculation of Budget & 5 Year Plan with G&S Committee recommended changes. ○ March 30 th – 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 10 th deadline.

If you recall from the Board Budget Orientation Assessment Notice Examples for 2011:  RDCO Taxes as a % of Total Taxes:  4.3% of Kelowna’s,  5.7% of West Kelowna’s  5.1% of Lake Country’s  6.6% of Peachland’s .  CORHD Taxes typically make up 4.8 to 5% of Kelowna’s, Lake Country & Peachland’s , and 5.5% of West Kelowna’s total tax bill.

2012 RDCO Operating Funds: General Revenue, Water, Sewer, including Municipal MFA Financing Total of All Operating Funds: $58 Million Planning Transportation EDC Services Services Inspections & 1.48% 1.78% 1.57% General Bylaw Government Enforcment 1.18% Services 2.68% Water Systems 0.87% Administration 6.09% Municipal MFA Financing 43.18% Treatment Plant & Sewer Systems 6.39% Solid Waste Management 6.93% Recreational and Cultural Protective Services Environmental Services 11.28% Services 9.29% 7.29%

Capital Budget for 2012:  General Capital: $15,777,610  Water Capital: $ 1,984,756  Sewer Capital: $ 3,899,250 Total $21,661,616

Breakdown: Assessment Values Assessment Information by Area: Depending on the Letters Patent or Bylaw, either the Converted or Actual Assessments are used to calculate the requistions for each service. (Most Regional Services are calculated using this method) 2012 2012 Assessment Values: Converted Actual Total Land & Improvements: Assessment Assessments 2012 2011 2012 2011 City of Kelowna 3,004,473,709 70.00% 69.54% 23,825,872,999 67.17% 66.78% District of Peachland 123,777,617 2.88% 2.91% 1,164,676,920 3.28% 3.30% District of Lake Country 275,195,709 6.41% 6.41% 2,557,698,995 7.21% 7.14% District of West Kelowna 707,313,733 16.48% 16.73% 6,212,399,112 17.51% 17.82% 4,110,760,768 33,760,648,026 Electoral Area C. O. West 102,262,712 2.38% 2.55% 965,222,014 2.72% 2.86% Electoral Area C. O. East 78,978,468 1.84% 1.86% 747,135,388 2.11% 2.10% 181,241,180 1,712,357,402 4,292,001,948 100% 35,473,005,428 100%

2012 Partners’ Tax Requisition Summary – Feb. 17 th Meeting Total Draft Budget 2012 Tax Requisitions (including Parcel Taxes) to RDCO: 2012 2011 City of Kelowna 9,619,296 55.08% 9,627,704 54.55% District of Peachland 549,642 3.15% 551,101 3.12% District of Lake Country 1,082,905 6.20% 1,075,515 6.09% District of West Kelowna 2,474,466 14.17% 2,530,957 14.34% Central Okanagan West * 1,975,018 11.31% 2,071,453 11.74% Central Okanagan East * 1,761,627 10.09% 1,791,025 10.15% 17,462,955 100.00% 17,647,754 100.00% Overall Requisition Decrease: -184,799 Note: Excludes Service Contracts that are invoiced or MFA payments. * Note: Includes local service areas, defined areas, etc. within each electoral area. Tab 7 contains the detailed information by area.

2012 Partners’ Tax Requisition Summary – March 8 Total Draft Budget 2012 Tax Requisitions (including Parcel Taxes) to RDCO: 2012 2011 City of Kelowna 9,788,725 55.34% 9,627,704 54.55% District of Peachland 553,399 3.13% 551,101 3.12% District of Lake Country 1,098,943 6.21% 1,075,515 6.09% District of West Kelowna 2,492,787 14.09% 2,530,957 14.34% Central Okanagan West * 1,988,677 11.24% 2,071,453 11.74% Central Okanagan East * 1,766,298 9.99% 1,791,025 10.15% 17,688,828 100.00% 17,647,754 100.00% Overall Requisition Increase: 41,074 Increases $150k to Parks, $90k to Mosquito Control, & reduction to Regional Rescue, and other changes. Note: Excludes Service Contracts that are invoiced or MFA payments. * Note: Includes local service areas, defined areas, etc. within each electoral area. Tab 7 contains the detailed information by area.

Budget Binder

2012 Residential Tax Rate Tab 7 (Page 1) – Revised Mar 8 City of Kelowna 2012 2011 Tax Rate Incr/Dec $0.2828 $0.2855 (-0.929)% L & I Decrease on a home assessed at $490,000 ($499,000 in 2011): Amount $(2.73)

2012 Residential Tax Rate Tab 7 (Page 2) – Revised Mar 8 District of Peachland 2012 2011 Tax Rate Incr/Dec $0.4224 $0.4199 0.603% Decrease on a home assessed at $485,000 ($499,000 in 2011): Amount $(4.65)

2012 Residential Tax Rate Tab 7 (Page 3) – Revised Mar 8 District of Lake Country 2012 2011 Tax Rate Incr/Dec $0.3207 $0.3193 0.444% L&I Decrease on a home assessed at $490,000 ($499,000 in 2011): Amount $(0.90)

2012 Residential Tax Rate Tab 7 (Page 4) – Revised Mar 8 District of West Kelowna: 2012 2011 Tax Rate Incr/Dec $0.3195 $0.3196 (-0.024) % Decrease on a home assessed at $481,000 ($499,000 in 2011): Amount $(5.79)

2012 Residential Tax Rate Tab 7 (Page 5) – Revised Mar 8 Central Okanagan West Electoral Area: 2012 2011 Tax Rate Incr/Dec $1.0577 $0.9661 9.478% L&I Decrease on a home assessed at $462,000 ($499,000 in 2011): Amount ($5.61)

2012 Residential Tax Rate Tab 7 (Page 6) – Revised Mar 8 Central Okanagan East Electoral Area: 2012 2011 Tax Rate Incr/Dec $0.9550 $0.8859 7.802% L&I Increase on a home assessed at $490,000 ($499,000 in 2011): Amount $14.25

2012 Tax Requisitions and Rates – Feb. 17 Meeting City of Kelowna: 2012 2011 Total Tax Req. $9,240,341 $9,248,748 Decrease: $(8,407)

2012 Tax Requisitions and Rates Tab 7 (Page 8) – Mar 8 City of Kelowna: 2012 2011 Total Tax Req. $9,409,770 $9,248,748 Increase: $161,021 Note: Still a decrease of ($2.73) per avg. home

2012 Tax Requisitions and Rates Feb 17 th Meeting District of Peachland: 2012 2011 Total Tax Req. $548,841 $550,300 Decrease: $(1,459)

2012 Tax Requisitions and Rates Tab 7 (Page 9) – Mar 8 District of Peachland: 2012 2011 Total Tax Req. $552,598 $550,300 Increase: $2,299 Note: Still a decrease of ($4.65) per avg. home

2012 Tax Requisitions and Rates Feb 17 th Meeting District of Lake Country: 2012 2011 Total Tax Req. $954,478 $947,088 Increase: $7,389

2012 Tax Requisitions and Rates Tab 7 (Page 10) – Mar 8 District of Lake Country: 2012 2011 Total Tax Req. $970,516 $947,088 Increase: $23,428 Note: Still a decrease of ($0.90) per avg. home

2012 Tax Requisitions and Rates Feb 17 th Meeting District of West Kelowna: 2012 2011 Total Tax Req. $2,408,646 $2,449,286 Decrease: $(40,640)

2012 Tax Requisitions and Rates Tab 7 (Page 11) – Mar 8 District of West Kelowna: 2012 2011 Total Tax Req. $2,429,626 $2,449,286 Decrease: $(19,659) Note: Decrease of ($5.79) per avg. home

2012 Tax Requisitions and Rates Feb 17 th Meeting Central Okanagan West Electoral Area: 2012 2011 Total Tax Req. $1,106,319 $1,109,001 Decrease: $(2,681)

2012 Tax Requisitions and Rates Tab 7 (Page 12) – Mar 8 Central Okanagan West Electoral Area: 2012 2011 Total Tax Req. $1,113,755 $1,109,001 Increase: $4,754 Note: Still a decrease of ($5.61) per avg. home

2012 Tax Requisitions and Rates Feb 17 th Meeting Central Okanagan East Electoral Area: 2012 2011 Total Tax Req. $770,687 $746,413 Increase: $24,274

2012 Tax Requisitions and Rates Tab 7 (Page 13) – Mar 8 Central Okanagan East Electoral Area: 2012 2011 Total Tax Req. $779,713 $746,413 Increase: $33,300 Increase of $14.25 per avg. home

2012 Transfers to Reserves and Capital:  Total operating budgets for all funds:  $58,030,825  Total MFA & Short Term Debt Payments:  $25,638,587 – 44.18% of Budget  Transfers to Capital and Reserves  $4,417,677 – 7.61%

Review Memo & Changes