CVRD Adopts 2014 Budget

The Comox Valley Regional District (CVRD) board of directors has adopted the 2014 budget that includes a total consolidated budget of $67.1 million (a net operating budget for the year of $54.2 million).

The consolidated budget includes three funds: general, water and sewer.  The 2014 budget reflects major projects underway in various services in all of the funds.  The table below highlights some of the activities: 

  Project Details Budget Amt
General
Fund
Phase one of the closure activities at the Campbell River waste management centre. $3.9 million
  New landfill expansion activities at the Comox Valley waste management centre $750,000
  Denman Island cross island trail $180,000
 

South sewer project: electoral area Community Works Funds for treatment plant and collection system to address failing septic systems in the core areas of Union Bay and Royston, and wastewater treatment issues in Cumberland.

Business case development, environmental assessment and project planning for the south sewer project.
$2.1 million
Water Fund Regional water supply infrastructure projects and deep water intake work $1.1 million
  Black Creek/Oyster Bay UV project and Kelland Rd. reservoir $1.1 million
Sewer Fund Sewer infrastructure projects include dewatering upgrades at treatment plant, Docliddle pump station and forcemain projects and start of compost facility expansion. $1.9 million

These are in addition to the regular services provided by the CVRD that include land use planning, fire protection, building inspection, drinking water treatment and supply, operation of the landfills in the Comox Valley and Campbell River and recreation facilities.

The 2014 financial plan expenditures can be summarized:

General operations budget        $ 41.5 million
Member municipal debt transfers 3.1 million
Annual debt charges  5.3 million
Reserve contributions       4.3 million
Net operating budget 54.2 million
Capital budget 12.9 million
           Total CVRD consolidated 2014 budget      $  67.1 million

The 2014 financial plan expenditures are summarized:

The 2014 financial plan revenue sources are summarized: 

The following table shows the approximate levy based on a residential property assessed at $300,000 in each area.  These do not include tax levies for services provided to a portion of an electoral area such as a fire protection service in a designated service area. 

Participant 2013 Levy 2014 Levy
Area ‘A’ Baynes Sound 499 511
Area ‘A’ Denman/Hornby Islands 209 218
Area ‘B’ Lazo North 502 512
Area ‘C’ Puntledge - Black Creek 468 482
Comox (excluding sewer) 241 242
Courtenay (excluding sewer) 241 242
Cumberland 233 234

For more information on taxation (requisition) by jurisdiction or a particular service budget go to www.comoxvalleyrd.ca, and click on “finance” and then “current financial plan”.

The Comox Valley Regional District is a federation of three electoral areas and three municipalities providing sustainable services for residents and visitors to the area. The members of the regional district work collaboratively on services for the benefit of the diverse urban and rural areas of the Comox Valley.                                                        

Media contact:         

Wendy Byrne
Manager of financial planning
Comox Valley Regional District
Tel:  250-334-6078