City of Penticton releases 2024 financial plan, seeks feedback from the community

The Penticton City Council is preparing to begin budget deliberations next month.

Earlier this week, the city released the proposed 2024-2028 Financial and Corporate Business Plan.

“This document provides the blueprint for proposed spending and affords the public the opportunity to review in detail how tax dollars are being expended,” says Angela Campbell, the city’s chief financial officer and director of finance and administration.

“The plan lays out how we’re working towards the four council priorities and also provides details division by division on how that will be achieved.”

This year’s budget, which includes a recommendation to bundle the final two years of a tax deferral introduced by the previous council into this year’s plan, would see a tax increase of 8.7% or $15 a month for residential taxpayers.

A major change in this year’s preliminary budget is the inclusion of detailed descriptions of big-ticket item capital projects like the Eckhardt Reconstruction to Ellis Dam upgrades to the Kiwanis Walking Pier Replacement.

“A key function of the city is ensuring that we maintain and improve our infrastructure to ensure the services people expect are reliable and of a high standard,” says Campbell.

“That can cover everything from road work to waste water facilities or upgrading stretches of the KVR. Our capital budget is a major investment and we wanted to provide more insight for residents into how it’s being spent.”

The release of the proposed financial plan also signals the start of public engagement, which is being held from Oct. 23 until Nov.12.

An open house is being hosted on Thursday, Oct. 26 at the Penticton Trade and Convention Centre from 4-7 pm. Community members will be able to meet with members of council, discuss the budget and share their thoughts with staff.

Questions about the budget can be submitted on shapeyourcitypenticton.ca or by emailing [email protected] between Oct. 23 and Nov. 2.

Feedback forms are also available on the city’s website. Those forms will be shared with council at the start of the budget deliberations, which runs from Nov. 21 to Nov. 23.