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CVRD begins five-year financial planning process

On Tuesday night, the Comox Valley Regional District (CVRD) board officially kicked off the New Year with the start of its 2018-2022 financial planning process.

  • Jan. 19, 2018 12:00 a.m.

On Tuesday night, the Comox Valley Regional District (CVRD) board officially kicked off the New Year with the start of its 2018–2022 financial planning process.

The CVRD is currently managing 102 services across the Comox Valley. These range from water, sewer, and solid waste services to parks, recreation, and even street lighting.

Within this year’s financial planning process, the emphasis will be on critical capital projects including the new water treatment filtration system and civic infrastructure. Each service or function is a stand-alone service and requires its own five-year plan for review by the CVRD board.

Residents within the regional district only pay for the services that are signed up for them by their municipality or electoral area. Below depicts the number of services each participating electoral area or municipality receives:

Area A – 67

Area B — 51

Area C – 54

Town of Comox — 22

City of Courtenay — 23

Village of Cumberland — 19

Kevin Douville, the CVRD’s manager of financial planning, says the overall tax impact on homeowners is dependent on where they reside and which services their municipality or electoral area participate in.

“During these early stages, the proposed consolidated budget, which is funded through reserves, grants, debt, other revenues and tax requisitions for all 102 services is $115,751,032,” he said.

From now until the budgets are adopted at the end of March, the CVRD board will be working with staff on the budgets. Residents are invited to participate and be part of the process by attending one of the public meetings or by visiting the CVRD’s website to review the budgets and background materials at www.comoxvalleyrd.ca/proposedfinancialplan

—CVRD

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