The Town of Oliver finance department has presented to council two budgets:

Water Capital and Operating
Sewer Capital and Operating

Both with a suggested increase for 2021 of 4%

In the water budget half of the capital budget is required for the Gallagher Lake Syphon Project and the other half for regular expenditures to keep the remaining part of the domestic and agricultural systems at a high level of maintenance.

Water – Capital Expenditures

The 2021 – 2025 capital budget outlines projects totaling $13.9M. The highest priority project
that is included in the budget is the Gallagher Lake Siphon Repair. The $11.5M gross
cost of the project will be offset by a $5M grant from the Provincial Government with the
remaining costs funded by borrowing. The remaining $4.5M in capital projects for 2021 –
2025 will be funded out of the water capital reserve which is projected to have a healthy
balance of $2M at the end of 2020.

The Town of Oliver reviews its General Budget in the new year but always agrees on water and sewer rates prior to the first billing period of the new year. So this first phase of budgeting must be complete by December.

Both the water utility and the sewer utility are operated on cost/rate basis with fees paying the bills.

The General Budget is funded by a tax increase expressed in terms of a mill rate applied to assessed values.