Kamloops, BC – March 21, 2024 – The Thompson Regional Hospital District (TRHD) Board of Directors has approved the 2024-2028 Financial Plan and capital project contributions for 2024.
In 2024, a residential home assessed at $680,000 will pay approximately $210.39 in property taxes to the Hospital District, which is an increase of approximately $6.12 from 2023.
The total tax requisition in 2024 is just over $17.2 million, which is a 5% increase compared to 2023. The Five-Year Financial Plan budgets for a 5% increase each year between 2024 and 2028. These planned increases are intended to build reserve funds, prepare for capital requests, such as future requests for Phase 3 of upgrades to Royal Inland Hospital (RIH), and also to budget for construction of a new Kamloops Cancer Care Centre at RIH.
“We have worked to balance the needs of planning for future investments in healthcare for our residents, while planning to keep the taxation increase at a level that is as reasonable as possible,” said Mike O’Reilly, TRHD Board Chair.
As part of the RIH Cancer Care Centre funding model, the TRHD is currently preparing to contribute just over $45 million of the total project cost. That amount is 35% of costs that the TRHD is required to fund, which include construction of a new parkade, purchase of MRI equipment, and additional upgrades to RIH.
In 2024, the TRHD will contribute $1.36 million for minor capital projects (under $100,000), and $9.23 million for major capital projects (over $100,000) at healthcare facilities in the region. This represents a 37% contribution to capital costs, which is a reduction in taxation from the typical contribution of 40% in past years and is a result of TRHD Board direction in 2023.
Each year, Hospital Districts in B.C. must adopt an annual budget on or before March 31, in accordance with the Hospital District Act.
Attachments:
- DRAFT: TRHD 2024-2028 Financial Plan, including list of Major/ Minor Capital Projects
- News Release: September 13, 2023: “Hospital District to Decrease Tax Requisition”
About the Thompson Regional Hospital District:
The Thompson Regional Hospital District (TRHD) generally exists to borrow funds and finance construction projects or equipment purchases at facilities within its boundaries. Capital projects are cost-shared between the Province of BC and the TRHD.
The TRHD Board of Directors is comprised of 31 members, including all 27 Board members of the Thompson-Nicola Regional District, two Board members from the Squamish-Lillooet Regional District (Electoral Areas “A” and “B”), one Board member from the Columbia-Shuswap Regional District (Electoral Area “F”) and one council member from the District of Lillooet.
To learn more about the Thompson Regional Hospital District, visit: tnrd.ca/trhd.
Media Contact:
Colton Davies, Communications Manager
Thompson-Nicola Regional District
Tel.: 250 377-6299
Email: cdavies@tnrd.ca