Preliminary budget presented to Comox council

Preliminary budget presented to Comox council

In his presentation to Comox council, the Town's director of finance presented council with his proposed five-year special project and capital budget, based on a 2.43 per cent property tax increase.

In his presentation to Comox council, the Town’s director of finance presented council with his proposed five-year special project and capital budget, based on a 2.43 per cent property tax increase.

Clive Freundlich told council the plan is in its second year, and is also based on business tax increasing by 1.4 percent.

Some highlights include maintaining local roads in good repair, various condition assessments and capital upgrades focused on maintaining the sanity sewer.

He noted most of the capital funds are directed towards replacing infrastructure, surface replacement and maintaining and replacing vehicles.

The proposed capital plan budget for 2018 is $5,222,360, with a proposed five year total (to 2022) is $21,820827.

The special project budget consists of non-recurring expenses of significant dollar value or that are items of interest, such as studies or substantial repairs.

The budget will return to council for subsequent reviews in March, with the final reading set for May 2.

Comox Valley Record