Vernon Budget available online

Agenda Package (P.119-156)
At the above Link you can find the proposed budget that will come up for 3 readings at Monday's afternoon meeting.

Some observations about this budget:

• General Tax increase 2.83%
• Sewer Tax increase 4.8%
• Fire Specified Area Tax increase 4.5% (est.)
• Light Industrial tax ratio revenue increase $96,600 (EST) to be applied to business taxes and lower tax increase to businesses.
• Utilities tax ratio revenue increase $70,000 (EST) (B.C.Hydro Grant) to flow into general revenues as well as other utility's increases ($13,000 EST.) caused by ratio change.
• 2008 -2011 do not reflect large 21.7 million Control plant coming on line. Not part of BC Hydro Grant line or Utilities Revenue line.
• BC Gas Franchise Fee estimated to bring in $570,000. (Phone call in February will get actual amount) Last year originally underestimated by $45,000. (When phone call made in 2006 the budget was revised and the $45,000 was used for part of the "wiggle room or council initiative fund)
• $40,000 to be taken from Development excess in 2006. Appears to be coming from reserve which will lower this reserve $220,159 before it is re topped up by at least this amount? (Remember there is an estimated $780,000 2006 operating surplus from which this $40,000 draw will reduce to $740,000 to be sliced and diced by a future finance committee smorgasbord !)
• $624,820 to be drawn from the RCMP Reserve. Even accepting that the $350,000 reduction of last years budget on Jul 24 was offset by not drawing $323,000 from the 2006 reserve as originally intended and leaving the opening balance at $1,816,000 intact, then this draw this year of $624,820 will leave a balance of $1,191,720 still available. This doesn't take into account the $27,000 shortchanged in the July 24 bylaw OR the amount of excess in 2006 in the full Police Protection Budget.
• Odd credit of $30,000 against land reserve draw of $194,000 ???
• Land Committee budget of $161,500. (see separate posting) VERNON LAND COMMITTEE at COW MEETING MONDAY
• $97,985 Airport Operations Budget. The $300,000 for the capital budget for the airport has been taken out and transferred to a "own funds reserve" to be available if the Airport proves its business case for Taxiway Charlie OR to be used for other priority capital projects that missed this year's cut.(see separate posting) AIRPORT in Spotlight at COW meeting Monday.
• $31,045 of the departmental reductions are from adjusting the COLA clause in salary agreements from 3% to the correct rate of 1.4%.

REMEMBER THERE IS between an estimated $740,000 & $780,000 of operating Surplus from 2006 (Est.) available to reduce any Tax Increase or even to provide a tax reduction !