Kimberley’s five year financial plan gets first three readings at City Council

Kimberley’s five year financial plan gets first three readings at City Council

Kimberley’s five year financial plan received its first three readings at City Council on Monday, April 27.

Council discussed five major highlights of the plan, which were significant factors that influenced the figures they were working with.

The COVID-19 pandemic is a major factor in the city’s financial forecasting. The crisis resulted in the early shutdown of the Civic Centre and an extended shutdown of the Aquatic Centre, plus the layoff of facility staff.

The City also implemented a hiring freeze that deferred recruitment of two previously-approved new planning department positions until January, 2021 and the replacement of an Assistant Fire Chief until July.

Those two factors resulted in savings of $226,699.

There was also an Aquatic Centre Wage Adjustment which resulted in an expenditure increase of about $135,800, stemming from a job evaluation system, undergone with the United Steel Workers, resulting in wage costs increasing by approximately 22 per cent. This was offset by several initiatives, including increasing user fees on the facilities by an additional five per cent on April 1, and an increase on the Aquatic Centre parcel tax.

If the Aquatic Centre stays shut down beyond June 1, the City will have some additional savings, roughly $80,000 to $100,000 per each month of closure, which will be added to the accumulated surplus that Council could then reallocate next year. If the Centre opens earlier than June 1, they will end up short of their projections.

“Make no mistake, the earlier we get it open the better,” said Mayor Don McCormick. “I’m not suggesting that we have a prolonged shutdown at all, but there could be a positive unintended consequence there.”

Last December, the City formalized its intent to sell the Kimberley Riverside Campground. In anticipation that the campground will sell sometime in the 2020 operating season, the City removed a previously budgeted $100,000 in revenue relating to the profit sharing agreement defined in the campground’s operating agreement.

At a special budget meeting on April 6, Council approved changes to the operating budget that required 1.35 per cent increase to municipal property tax. This was then reconsidered by the City in an effort to provide relief to property owners impacted by the crisis, and the increase was set to zero per cent for this year.

Council directed $135,559 to be transferred from the Accumulated Operating Surplus to replace lost tax revenue as a result of this decision. The total amount transferred from the Accumulated Operating Surplus was reduced to $77,242 due to reduced debt repayment costs stemming from an interest adjustment and a final calculation of Flat Tax based on an increased residential lot count.

“We still don’t know what the full impact to the City is going to be,” said Chief Financial Officer Jim Hendricks.

“It could have further impact on the City’s revenues and expenditures and our ability to provide projects and services throughout the year. So in all likelihood we may end up bringing a financial plan bylaw amendment before council if there are material changes as a result.”

McCormick commended staff for their work on the five year plan, saying that it’s “well laid out, understandable and an awesome plan.” The full details of the plan are available on the city website.



paul.rodgers@kimberleybulletin

Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Wolf photo by Brian Hay
2020 hunting season review and wildlife update: Part III

This is Part III of a three-part series by F.J. Hurtak, looking at the issues of the 2020 hunting and wildlife management season

Interior Health update. File photo.
86 new COVID-19 cases, two more deaths in Interior Health

The new deaths are from Heritage Square, a long-term care facility in Vernon

Kimberley Alpine Resort's main chairlift will be down for at least a few more days, as the required part missed its connecting flight.
Kimberley Alpine Resort’s chairlift repair delayed

Part needed for repair missed connecting flight in Amsterdam

Kimberley has only two exits in the case of an emergency evacuation. Google Earth.
Kimberley Fire Department to work on upgrading evacuation route planning

City supports RDEK in applying for regional grant

Justin Kripps of Summerland and his team have competed in Olympic action and World Cup competitions in bobsleigh. (Jason Ransom-Canadian Olympic Comittee).
QUIZ: Are you ready for some winter sports?

It’s cold outside, but there are plenty of recreation opportunities in the winter months

A health-care worker prepares a dose of the Pfizer-BioNTech COVID-19 vaccine at a UHN COVID-19 vaccine clinic in Toronto on Thursday, January 7, 2021. THE CANADIAN PRESS/Nathan Denette
COVID-19: Provinces work on revised plans as Pfizer-BioNTech shipments to slow down

Anita Anand said she understands and shares Canadians’ concerns about the drug company’s decision

Tourists take photographs outside the British Columbia Legislature in Victoria, B.C., on Friday August 26, 2011. A coalition of British Columbia tourism industry groups is urging the provincial government to not pursue plans to ban domestic travel to fight the spread of COVID-19. THE CANADIAN PRESS/Darryl Dyck
B.C. travel ban will harm struggling tourism sector, says industry coalition

B.C. government would have to show evidence a travel ban is necessary

(Phil McLachlan - Capital News)
‘Targeted’ shooting in Coquitlam leaves woman in hospital

The woman suffered non-life threatening injuries in what police believe to be a targeted shooting Saturday morning

JaHyung Lee, “Canada’s oldest senior” at 110 years old, received his first dose of the COVID-19 vaccine on Thursday, Jan. 14, 2021. He lives at Amenida Seniors Community in Newton. (Submitted photo: Amenida Seniors Community)
Join Black Press Media and Do Some Good
Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

A unique-looking deer has been visiting a Nanoose Bay property with its mother. (Frieda Van der Ree photo)
A deer with 3 ears? Unique animal routinely visits B.C. property

Experts say interesting look may be result of an injury rather than an odd birth defect

Standardized foundation skills assessment tests in B.C. schools will be going ahead later than usual, from Feb. 16 to March 12 for students in Grades 4 and 7. (Black Press Media file photo)
B.C. teachers say COVID-affected school year perfect time to end standardized tests

Foundational skills testing of Grade 4 and 7 students planned for February ad March

Sooke’s Jim Bottomley is among a handful of futurists based in Canada. “I want to help people understand the future of humanity.” (Aaron Guillen - Sooke News Mirror)
No crystal ball: B.C. man reveals how he makes his living predicting the future

63-year-old has worked analytical magic for politicians, car brands, and cosmetic companies

Most Read