The Regional District of Okanagan Similkameen has a proposed budget of nearly $58 million for 2020.
The budget, presented to the regional district board on Feb. 6, has a grand total of $57,847,128, an increase of $5.8 million or 11.2 per cent over the previous year.
Operating expenses are expected to come in at $51.1 million, up from $45.1 million a year ago.
However, the amount for municipal debt repayment dropped slightly, from $6.9 million in 2019 to $6.7 million this year.
Taxes account for the largest revenue source for the regional district budget, with a total of $20,192,702 expected.
Fees and charges are expected to bring another $10,975,702 while grants will bring $7,225,971.
Other revenue sources include contract revenue, debt proceeds, prior surpluses and transfers from reserves.
Capital and equipment expenses represent the largest category of expenditures in 2020, accounting for $12,402,486.
Wages and benefits add another $11,338,814.
Financing for municipalities is expected to cost $6,679,583. Contracts and agreements are budgeted at $6,279,562.
Operations are expected to cost $4,338,683.
Documents related to the regional district budget are available online at rdos.bc.ca/departments/finance/2020-budget-information/
This includes a 323-page financial plan report which covers the five-year financial plan and provides detailed figures for the various communities, electoral areas and regional district services.
In a report to the regional district board, John Kurvink, chief financial officer for the regional district, said the financial plan has been reviewed by the board at a series of three workshops near the end of 2019.
The first reading of the bylaw was given on Jan 9, and since that time, community consultations have been underway.
The RDOS budget was posted online Jan. 10 and electoral area budget videos and Powerpoint presentations were posted Jan. 22.
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