FAQs
- Changing the timing of initiatives to reduce overall impact on budget. An example of this work for 2024 includes deferring the creation and hiring of 11 full-time staff positions.
- Evaluating how to deliver services more cost-effectively.
- Mitigating impacts on taxes by finding areas where reserve funding can be used responsibly.
- Reviewing reserve funds every year.
What does the CRD do to reduce tax impacts on residents?
The Board reviews and approves Service and Financial Planning Guidelines each year that shape how we manage resources required while reducing the impact on the upcoming budget. This work includes:
For more about our planning process, visit: https://www.crd.bc.ca/about/financial-accountability/budget-planning-process/
Is the $85 million proposed borrowing for housing included in this process?
No. The focus of the financial plan for 2024 is to outline resources required for the next five years based on approved initiatives and service levels. The borrowing bylaw proposed is subject to electoral approval and you can participate in that process on our website at www.crd.bc.ca/landbanking-aap. Should the borrowing bylaw be adopted, debt will not be incurred, and therefore requisition will not increase, until funding is approved for a specific project or through an annual planning approval process.