5-Year Financial Plan

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The RDEK Board adopted the 2020-2024 Five Year Financial Plan on March 6, 2020.

The Financial plan is a complex document and to help break it down, we have prepared a “snapshot” that provides a summary overview. It will be posted in the key documents section soon.

One of the tricky parts about communicating (and understanding) the Financial Plan lies in the way Regional Districts work. Unlike a municipality that has one boundary and one set of taxpayers (where everyone within the municipal boundaries pays), Regional Districts in BC are based on service areas. So, for every one of the more than 100 services we offer, there is a boundary for that service area, and everyone within the service area pays for (and receives the benefit of) that service. What that means is that we have over 100 different “boundaries” with over 100 different sets of taxpayers. SO, WHAT DOES THAT HAVE TO DO WITH THE BUDGET?

Well, how the budget will impact you depends entirely on what part of the RDEK you live/own property in and what combination of services are offered there. For example, if you live in Electoral Area C everyone will pay the same rate for the line item on their tax notice called “Reg Dist East Kootenay”, but people living in Gold Creek will also be paying for Cranbrook Rural Fire Protection. While people in Moyie don't have fire protection, but they pay a different line item for Moyie Water.

If you would like to find out how all of this impacts you, you can also call our Chief Financial Officer and she can provide you with specifics. Our staff are happy to answer your questions related to RDEK services and how they impact you all year-round. So, if you have questions, please let us know.

The RDEK Board adopted the 2020-2024 Five Year Financial Plan on March 6, 2020.

The Financial plan is a complex document and to help break it down, we have prepared a “snapshot” that provides a summary overview. It will be posted in the key documents section soon.

One of the tricky parts about communicating (and understanding) the Financial Plan lies in the way Regional Districts work. Unlike a municipality that has one boundary and one set of taxpayers (where everyone within the municipal boundaries pays), Regional Districts in BC are based on service areas. So, for every one of the more than 100 services we offer, there is a boundary for that service area, and everyone within the service area pays for (and receives the benefit of) that service. What that means is that we have over 100 different “boundaries” with over 100 different sets of taxpayers. SO, WHAT DOES THAT HAVE TO DO WITH THE BUDGET?

Well, how the budget will impact you depends entirely on what part of the RDEK you live/own property in and what combination of services are offered there. For example, if you live in Electoral Area C everyone will pay the same rate for the line item on their tax notice called “Reg Dist East Kootenay”, but people living in Gold Creek will also be paying for Cranbrook Rural Fire Protection. While people in Moyie don't have fire protection, but they pay a different line item for Moyie Water.

If you would like to find out how all of this impacts you, you can also call our Chief Financial Officer and she can provide you with specifics. Our staff are happy to answer your questions related to RDEK services and how they impact you all year-round. So, if you have questions, please let us know.

  • RDEK Adopts Five-Year Financial Plan

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    09 Mar 2020

    The Regional District of East Kootenay (RDEK) Board of Directors has adopted its 2020-2024 Financial Plan.

    The 2020 operating budget totals $33,980,391, which results in an increase in taxation, on average, of 4.6%. “I would like to thank staff, the Board and the many other stakeholders who have been working for months on preparing this plan,” says RDEK Chair Rob Gay. “As a board and a region, we are always mindful of the need to provide quality service to our taxpayers while balancing the tax impacts. I believe we have maintained that balance in this budget.”

    It is important to understand that there is a difference between the numbers in the budget and the effect those numbers will have on individual tax rates. Residents of the RDEK will be affected differently, depending on the municipality or electoral area in which they live. On average, residential properties in the RDEK will see approximately a $12 overall increase in their tax levy based on a $354,000 assessment.

    “Unlike a municipality that has one boundary and one set of taxpayers, different areas of the RDEK require different services and these are paid for only by the taxpayers of each specific service area,” explains Gay. The tax impacts of this financial plan range from a decrease for properties in the City of Fernie to larger increases in the Columbia Valley.

    Tax calculations are expected to be complete by early-April when 2020 revised assessed values are available.

    The total 2020 capital budget is $12,126,248 and includes connecting Windermere Water to the water treatment plant and upgrading distribution system, the Hill Road dike project in Area A, construction of septage ponds in Area B, Timber Ridge / Eastside Water system looping project, completion of Phase 2 of the Fairmont Flood & Debris Control project, upgrades in Cold Spring Creek, and Phase 1 of the regional organics composting project.

    Some other highlights for 2020 include up to $60,000 in operational funding for the Fairmont Airport (subject to conditions), improvements to the Fairmont Transfer Station access road, establishment of Waldo Cove Park in Area B, replacement of the Canal Flats Arena chiller, archaeological mapping in the Area A Flood Control service boundary, and replacement of the Lazy Lake water diversion infrastructure.

    The 5-Year Plan for 2020-2024 was formally adopted by the RDEK Board Friday at its March Board meeting. Copies of the full plan along with a summary of the highlights will be available online Monday, March 9 at engage.rdek.bc.ca/budget or by request through the RDEK’s Columbia Valley and Cranbrook offices.

  • Five Year Financial Plan Open For Public Comment

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    21 Feb 2020
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    The Regional District of East Kootenay Board of Directors is seeking public comment on its draft five-year financial plan.

    “The RDEK Board has completed its first review of the Financial Plan; however, the work on the plan is certainly far from complete,” explains RDEK Board Chair Rob Gay. “Staff will continue to meet with Directors, other municipalities, and various commissions over the coming weeks and a public comment period will be open until the first Monday in March.”

    The Financial Plan lays out how tax dollars are being spent on the more than 100 services offered in the RDEK. There are a number of items to note in this year’s budget including connecting Windermere Water to the water treatment plant and upgrading distribution system, the Hill Road dike project in Area A, construction of septage ponds in Area B, Timber Ridge / Eastside Water system looping project, completion of Phase 2 of the Fairmont Flood & Debris Control project, upgrades in Cold Spring Creek, and Phase 1 of the regional organics composting project.

    The draft 2020 operating budget proposes a 5.6% increase over last year, which works out to approximately $12 on an average $354,000 residential assessment. A 1.2% increase in new assessment in the region will help offset the overall impact. It is important to remember in the RDEK model, municipalities and electoral areas are all affected differently depending which RDEK services they receive. The 2020 operating budget is $34 million and the capital budget is $12.5 million.

    “As a board, our focus is always on finding a responsible balance between providing quality services to our residents and minimizing the tax impacts. It is often a balancing act and we feel we have achieved a fair balance with this plan. The Plan will come back before the Board next month and we encourage people to let us know their thoughts through the public comment period,” says RDEK Chair Rob Gay. The public comment period is open until NOON on Monday, March 2, 2020.

    Copies of the plan and comment forms are available on engage.rdek.bc.ca/budget and through its Cranbrook and Invermere offices. The RDEK will be posting a budget “snapshot” this week that provides a condensed overview.

    The 5-Year Financial Plan is expected to be adopted at the March 6 Board Meeting.