Cranbrook adopts five-year financial plan

Municipal property tax rate to increase 3.97 per cent.

City hall formally adopted it’s Five-Year Financial Plan last week, which will see a projected 3.97 per cent increase to the general municipal property tax for an average residential property in Cranbrook.

The increase includes a one per cent Dedicated Road Improvement Tax, which was first introduced eight years ago and is earmarked specifically for road projects.

Utility and parcel tax rates will remain at 2018 levels, with an expected annual fee of $928.

The plan was approved at last week’s city council meeting.

For the 2019 fiscal year, Cranbrook projects to collect nearly $83 million in revenues from a number of sources such as municipal property taxes, sales of services and fees, transfers and collections from other governments.

Operating expenses expect to be $65.7 million, with additional capital expenses reaching $17 million for projects such as the Capital Roads Program, the Western Financial Place roof replacement and a ladder truck replacement for Cranbrook Fire and Emergency Services.

Some carry forward projects from last year also include the RCMP Cellblocks and Booking Room renovations, flood mitigation planning, airport fibre optic, and more. The financial plan notes that those projects, totalling $5.7 million in spending — including $3 million for the arena roof replacement — are funded from reserves, surpluses and grants and will not impact the 2019 tax levy.

A report on options for fixing the roof at Western Financial Place is forthcoming, as the consultant who had completed a report on the matter will soon present his conclusions and recommended options to city council.

The building currently receives projected revenues of $918,000, but has operating expenses of $3 million, before debt payments of $1.5 million.

Transfers to reserve funds will total $4 million, while withdrawals of $8.3 million will be made to help fund projects such as the arena roof replacement, Capital Roads Program, and mobile equipment replacement.

Over the next five years, the city is planning to borrow $17.3 million for various capital projects such as the purchase of the old Tembec property in the industrial park at $2.9 million, a Water Treatment Plant & Distribution at $8.6 million.

The five-year plan began in planning sessions with city council and senior staff last fall, as each department presented its operating and capital work plans. No written feedback from the public was received when a draft of the plan was made public on Jan. 14.

A late amendment for $30,000 towards Cranbrook Tourism for 2019 only was made at the end of January.

Like us on Facebook and follow us on Twitter

Just Posted

New lights shine on local stage

Upgrades at Studio Stage Door theatre illuminate a new era for Cranbrook Community Theatre

SD5 protesting changes to B.C. graduation program

The Southeast Kootenay board of education is protesting changes to the B.C.… Continue reading

PDGA-sanctioned disc golf tournament takes place this weekend

The Double Disc Golf Cup takes at the Wycliffe and Cranbrook courses

Know It All: Kimberley Cranbrook entertainment guide

Key City Theatre Gallery Mount Baker Student Exhibition “Touch” Art That Makes… Continue reading

Fire Department called to trailer fire south of Cranbrook

Cranbrook Fire Department and emergency services were called to the scene of… Continue reading

What’s age got to do with it? B.C. couple with 45-year gap talks happy marriage

An Armstrong couple that has 45-year age gap began turning heads after being featured on show Extreme Love.

Hugs & Slugs

Slugs: Huge Slugs to the rude, abusive elderly couple at the Superstore… Continue reading

Murder on B.C. property didn’t need to be disclosed before sale, court rules

Buyer had tried to break contract after learning a man with ties to crime had been murdered there

B.C.’s largest Vaisakhi festival target of threatening Facebook post: Surrey RCMP

Police say they are investigating the posts on Facebook, after local MLA forwarded screenshots

Pug life: B.C. town boasts waggish list of dog names

Freedom-of-information request lists most ‘pupular’ dog names registered in White Rock

VIDEO: Fish farming company launches $30-million vessel to treat salmon for sea lice in B.C. waters

Freshwater treatment an improvement but fish farms should be removed from sea, says conservationist

Singh says childhood abuse steeled him for scrutiny and stress of politics

He recounts the assaults for the first time in his book Love & Courage

Despite five extra weeks’ parental leave in Canada, dads still face stigma: survey

One reason people said dads don’t need leave is because they can just bond with their kids at weekend

Vintage bottles, magic cards, a 1969 Playboy: Quirky items found in historic B.C. buildings

Crews set aside some of the funkier pieces emerging from the construction rubble

Most Read