A GVAC Functions Cheatsheet.

 The above tables show the tax requisition for the Parks & Rec. Function for 1997-2012, the Multi-plex from Inception 2000-2012 and the Community Theatre (Performing Arts Centre) from Inception 2000-2012.

The 2012 figures include Debt Payments of:

• 060 Greater Vernon Parks & Recreation  $1,214,842  ($1,217,632 in 2011)
• 062 Multi Use Facility  $1,003,176 (same as 2011) (see outstanding Debt Below)
• 065 Community Theatre $663,272 (same as 2011)  (see outstanding Debt Below)

Interest Rates have been lowered since this 2007 Post.

Most of the interest rates on these outstanding issues have been lowered to:

MFA 73: 3.15% to 2014.
MFA 74:  3.05% to 2016
MFA 75:  3.05% to 2016
MFA 77:  3.05% to 2016
MFA 78:   5.37% to Dec. 3, 2012.



The 1991 Master Plan was based partly on the results of a major public survey which provided information regarding the parks and recreation needs and interests of the general public. Since that time, several public opinion surveys have been held, dealing with specific matters (e.g., pool, arenas, referenda). In 1992 a referendum was passed which provided authority for the borrowing of funds for the upgrading and expansion of the swimming pool, and land acquisition for an arena, performing arts centre, and parks, trails and beaches. The availability of the referendum funds and capital budgets in the early 1990s allowed for significant implementation of the 1991 Parks and Recreation Master Plan. (This is the outstanding Debt Involved from 1992. Debt should come off in 2013.)

Reserve Balances:
2011 Year end:
062 Multi-Plex: $2,321,995-- 2012 (est) $2,144,326  
065 Theatre:      $   805,273--  2012 (est) $990,666
060 Parks           $ 5,583,116-- 2012 (est) $3,622,466*
* Assumes that $1,700,000 will be used for Pool Repairs in 2012.


(Parks Reserve - Statutory) There is another statutory reserve for the unspent money in the referendum funds from the 7.5 million from the 2005 referendum which totaled $7,206,015 at 2010 Year end..  This reserve must be used only for the purchase of land for Parks and Rec. use. ( $???). A good portion of this money was used in 2011 for land purchases. 2011 Balance unknown at this time.

There are also the Parks DCC reserves which totaled $7,414,552 at 2010 Year end. Parks DCC's can be used for new Park land purchases and limited buildings on existing Parkland. (The 2007 DCC changes raising DCC Rates by $800 per unit was finally adopted by the NORD Board in January of 2012 and has been given 3 readings and sent to Province. Upon its return it will be adopted. Approx. $600,000 has been foregone by not adopting this bylaw in 2008 ). 2011 Balance unknown at this time.