2007 City Budget

The first draft of the 2007 budget calls for a tax increase.

The budget recommends a tax increase of 5% to keep existing services maintained at their current levels.

City Treasurer, Doug Leahy, says all budget deliberations will be held during open meetings.

“Those meeting dates are January 8, 15, 22 and 29. If needed, we will formally review our budget in March or April of next year,” says Leahy.

He says the largest capital expenditure for 2007 will be the South Okanagan Events Centre.

“The 2007 Capital Budget has been significantly adjusted to accommodate the construction of the SOEC,” says Leahy.

He says numerous other projects could be deferred due to a $2 million reallocation of funds to the SOEC.

Final budget will be approved in the spring.