(Submitted photo)

Okanagan-Similkameen Regional Hospital Board budget adopted

Budget of $12,035,140 is expected to cost the average household $111.69

The Okanagan Similkameen Regional Hospital District has adopted its budget for 2020.

The budget of $12,035,140 is expected to cost the average household $111.69.

John Kurvink, manager of finance with the regional district, said there is no requisition increase from last year’s hospital board budget and the average residential tax burden decreases by around $1.

READ ALSO: Okanagan Similkameen Regional Hospital District tax burden unchanged this year

READ ALSO: Regional District of Okanagan Similkameen budget nearly $58 million

Taxes will account for $6,447,140, transfers from reserves are expected to add $3,935,000, debenture proceeds account for $1,473,000 and other income will contribute $180,000.

Capital grants will account for the largest share of expenses, at $7,864,700. Funding for the patient care tower at the Penticton Regional Hospital will require $1,473,000, debt repayment is $1,635,040 and transfer to reserves is $983,685. The remainder of the expenditures include salaries and honorariums and miscellaneous expenses.

The patient care tower has an overall estimated cost of $117 million, with funding completion scheduled for 2022.

At present, the long-term debt required is $68 million, or 58 per cent of the total cost of the project.

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