Powell River Regional District finalized and approved its 2015 to 2019 financial plan, which shows a $145,000 increase in expenditures over the previous year.
At the March regional board meeting, directors voted unanimously in favour of three readings and final adoption of the financial plan bylaw.
Prior to third reading of the budget bylaw, Colin Palmer, Electoral Area C director, noted that the 2016 and 2017 capital item expenditures were substantially higher than years previous.
“They skyrocket compared to 2015,” Palmer said. “Does that significant increase in 2016 have everything to do with that resource recovery grant?”
Linda Greenan, manager of financial services, said half of the expenditure would be in 2016 with the final closure of the site where the future resource recovery centre will be, dealing with the residue ash from the incinerator that was previously located there. The expenditure in 2017 would be the construction of the recovery centre.
Al Radke, the regional district’s chief administrative officer, said those budget items were contingent upon whether grants applied for can be secured. “Otherwise, this flops,” he said.
Regional district capital expenditures total a little less than $1.5 million in 2015, are forecast to be $5.8 million and $6.2 million in 2016 and 2017 respectively, and drop back to just less than $400,000 in 2018.
In terms of regional district revenue, property and parcel taxes were $3.85 million in 2014 and are forecast to be $4.25 million in 2015, for an increase of $396,261, or 9.3 per cent.
