Council approved the City of Kelowna’s 2022 budget carry forward requests.
The deferral includes $177.2 million in operating and capital expenditures for projects that either could not be completed in 2021 or are multi-year projects scheduled for completion in the next several years. Examples of projects are the development of Pandosy Waterfront Park, the continued expansion and improvement of Kelowna International Airport’s Capital Development Program, Journey Home Strategy initiatives to address homelessness and Mill Creek Flood Protection Project.
“Budget carry forward projects do not increase current year tax demand because they are funded from the prior year’s board-approved budget,” said Kevin Hughes, director of financial planning. “About half of the projects (49%) will be funded from general city funding sources and the rest will come from self-funding sources such as the water utility, sewage utility, and municipal reserve funds. airport.”
Following budget deliberations in December, council approved a preliminary overall tax increase of 3.64%. On average, that means an $80 increase on a City of Kelowna residential property tax bill.
budgetCity CouncilCity of Kelowna