At its most popular point, the Dec. 20 online review of version two of Sechelt’s 2022 budget had six viewers. Staff fielded no questions from the public at the end of the one-hour session.
The event featured director of finance David Douglas’ summary of recommendations made at recent Committee of the Whole meetings to refine the budget and reduce the level of the 2022 property tax increase needed to fund it. With those changes, the estimated increase in the municipal portion of 2022 property tax bills would be 11.4 per cent over 2021 levels. That is down about three per cent from the estimate included in the first budget version.
Options to further reduce the property tax impacts of next year’s budget are slated for discussion at a Dec. 22 committee meeting (past Coast Reporter deadline). A staff report on that meeting’s agenda recommends “adjustments to operational accounts” including use of more than $540,000 in savings and unspent funds from 2021. The report also suggests that Sechelt count on higher tax revenues from construction completed over the past year and more fees from 2022 building permits.
With those funding sources included, the property tax increase needed to fund version two of the 2022 budget would go down to 8.08 per cent from the current estimate of 11.4 per cent.
Covered by that 8.08 per cent increase would be a three per cent contribution to build up the municipality’s capital reserves. The remainder would pay for cost increases and enhancements to municipal operations.
The committee will also be asked to recommend early approval of 2022 capital budget projects. If endorsed by Council, that will allow staff to proceed with more than 20 capital projects valued at $5 million early in the new year, in advance of adoption of the budget.
Recommendations from the Dec. 22 meeting are scheduled to be considered at the Jan. 19 council meeting.
The public can access details on the budget and the meeting discussions held to date on sechelt.ca. Council adoption of annual budget, fee adjustment and tax rate bylaws are required by May 15.
