Kamloops, BC – March 30, 2023 – The Thompson-Nicola Regional District (TNRD) Board of Directors has adopted the 2023-2027 Financial Plan, as required by the Local Government Act for all regional districts before March 31 of each year.
In the 2023 budget, operating costs have increased in some departments. This is mainly due to inflation being at its highest point in many years, affecting contract costs, fuel and supply costs, and general costs of delivering services. Other operating cost considerations include negotiated wage increases, a rise in insurance costs for TNRD assets, and needs that have been addressed for Information Technology infrastructure, including cybersecurity.
“We have worked in earnest to prepare a budget that is fiscally prudent and sensitive to global economic challenges, while maintaining the ability to deliver services which we are mandated to provide,” said Chief Administrative Officer Scott Hildebrand. “We have also focused on providing budget information to the new Board of Directors, having held a public workshop during a Committee of the Whole meeting on January 18 and meeting with a number of directors to go over details line by line.”
Despite increases in costs to provide services, residential landowners in many communities may pay less tax to the TNRD compared to 2022. This is due to a combination of factors, including new growth to spread amounts owing to a larger tax base. In 2023, the total taxation amount collected by the TNRD is $25.1 million, which represents a 7.05% increase from 2022, however, many residential landowners can expect to see a smaller increase or a slight reduction in property taxes owing.
Of important consideration is that property owners only pay for services that they receive, whether they are in a TNRD Electoral Area or a Member Municipality. The TNRD provides 125 services in the 2023 budget, which are regional, sub-regional, or local. In all regional districts, funds are to remain within each budget for each individual service.
“We will continue to aim for providing budget direction that meets the needs of residents while focusing on long-term stability,” said Board Chair Barbara Roden. For more information on the 2023-2027 Financial Plan, visit: tnrd.ca/budget2023. This webpage also includes key information on how BC Assessment values factor into property tax calculations.
To view the 2023-27 Financial Plan report presented on March 30, 2023, click here.
Media Contact:
Colton Davies, Communications & Marketing Manager
Thompson-Nicola Regional District
Tel.: 250 377-6299
Email: cdavies@tnrd.ca