Budget carryover requests approved

Mar. 21, 2011

Funds targeted at projects set for completion in 2011

More than $94.2 million in operating and capital carryover expenditures will be added to the City of Kelowna 2011 budget. Carryover requests were approved by City Council on Monday. The funds are targeted at a number of multi-year projects set for completion in 2011, including the $60-million upgrade to the City's wastewater treatment plant and the $6.9-million expansion of the Kelowna Family Y. The carryover projects have no additional taxation demand."Details of the budgeting process can be found on the City's website," says Financial Planning Manager Angie Thiessen. "We've taken further steps to ensure residents and ratepayers have easy access to budget documents and the details of our financial policies."In December, the Frontier Centre for Public Policy named Kelowna, along with Port Coquitlam, as Canada's most transparent city when reporting on finances. The Frontier Centre has been compiling its Local Government Performance Index, which compares the financial statistics of Canada's largest municipalities, since 2007. The adoption of the final budget is set for May 2, 2011 when the final tax rate will be set. Council approved a provisional tax increase at 2.05 per cent during budget deliberation last December. The increase translates into an additional cost about $33 for the owner of an average $485,000 single-family Kelowna home. Residents can find out more about the 2011 budget at kelowna.ca/budget. Carryover Requests Volume Two