Council spent four hours in a Town office today trying to find one answer:
What kind of tax increase is suitable based on the demands for a police service cost reserve, general operating and capital spending.
They went through the general budget with a fine tooth comb – did a lot of discussing and heard different scenarios of how to play with the money.
CFO Devon Wannop suggested he would not be doing his job without recommending a 10 percent increase in taxation to create what he called “sustainability” of financial planning for the next five years.
One idea that caught the imagination of staff and council is to allow the growth of new home construction to fuel any increases in the operating budget allowing for the same taxes as last year BUT……… to increase the taxation by 9 percent to create a police service cost reserve and here’s the kicker to use that money for five years on a sizeable street and sidewalk plan.
At the end of the five years – the taxation would be in place for any hefty increase for RCMP services. That plan proposed by new-again Councillor Dave Mattes.
The meeting was adjourned until 5pm Thursday when it will reconvene in Council Chambers.
Some highlights:
Most of the money to run the Town of Oliver corporation runs through two separate budgets  (water and sewer) both self -sustaining based on rates – not taxation. Both of those budgets already approved and implemented.
The general budget amounts to only about $1.4 million. That will fund :  staff, buildings, public works in parks and roads, cemetery, fire department, airport, tourism and economic development – etc.
Parks and Recreation, Museum and Archives are joint services of the RDOS and not covered in the General Budget.
The budget will have to handle one general election, crack sealing airport runways, asset management plan, increase in building inspection costs due to volume of work and a first ever sprinkler system for old CPR building ( Home of Oliver Tourism ). That is just a few of many capital items – not all listed here.  See PDF published by ODN previously for all the small detail.
Council wrestled with various methods of funding road construction with no fixed money source like water and sewer rates for such work.
Council hopes to institute the cart system for solid waste pickup (garbage and recyling) with no increase in cost to home-owners.
Thursday’s task is to review all possible capital expenditures and to plan and …..possibly cut back or delay some projects.
We should know more before the close of business tomorrow.