Public presented with proposed balanced operating budget

Instead of completely cutting the $5,000 grant-in-aid to the Powwow, $1,000 will be given from another city fund.

In terms of revenue, the City will be looking to increase tax revenue by 4.4 per cent, accounting for new assessment growth, which is down from the 4.63 per cent needed in the last draft. This budget would use 3.2 per cent of Fair Share funds, and as for expenses, it includes $680,000 in operating projects.

Included in 2013 operating projects is $400,000 for projects related to B.C. Hydro and Site C, $125,000 for the Downtown Action Plan, and $100,000 for boundary expansion research, including fringe projects and dealing with applications for inclusion. The Master Transportation Plan has been moved to 2014, as the City is too busy dealing with Site C.

In total, the proposed revenues and expenses are even at $58,166,060. Municipalities in British Columbia are not allowed to run a deficit.

The Operating Budget will be finalized on November 26, with adoption of the bylaw scheduled for January 14, 2013.

The proposed budget shown last night can be downloaded below.