Capital Regional District releases 2020 financial budget plan

CRD, CRHD, CRHC join focres to use financial resources effectively

A widely inclusive financial plan for 2020 has officially been set in place for the Capital Regional District.

This year, the CRD, Capital Regional Hospital District, and the Capital Regional Housing District joined forces with their financial plans, which will allow the groups to be more strategic with funding resources and support initiatives.

The combined fund plans are said to be unique for each municipality, electoral area and First Nation, but the “consolidated operating portion” equaling $340 million, will support a variety of regional, sub-regional and local services.

The operational portion includes paying for the daily business of the CRD, including labour, supplies, programs, services and repayment of debt for major projects. This balance is funded from multiple sources, nearly half being comprised from sales of services, 25 per cent comes from requisitions, and other revenue sources such as grants.

READ ALSO: CRD wants closer relations with First Nations

An additional $449 million from the combined budgets is aimed towards funding local projects.

The capital section of this year’s financial plan, totalling $360 million, was decreased by 6.3 per cent, or $24 million, as compared to 2019. This portion of the budget is aimed towards new or improving infrastructure.

Despite the decrease, a variety of initiatives are still planned to enhance communities. Some projects noted in a press release by the CRD include a water treatment project by the end of 2020, additional sewer projects plans to improve drinking water, managing natural areas such as parks and trails, and construction for the Southern Gulf Islands Small Craft Harbours Facilities.

Other projects involve an energy recovery project on the Panorama Recreation Centre, costing $2.85 million, construction on the South Galiano Fire Hall, as well as a Regional Housing First Program, which will create 400 housing units to be rented at $375 a month.

For additional information on the 2020 Financial Plan visit crd.bc.ca.

Like us on Facebook and follow us on Twitter

CRD

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Sooke Country Market returns for 25th year

In person market to only feature farmers, opens June 6

Man who bound, murdered Langford teen still a risk to public: parole board

Kimberly Proctor’s killer is still ‘mismanaging emotions,’ has had ‘temper tantrums’

North Saanich artist brightens pandemic with whimsical signs

Artist Anna Trelford decorates her fence with signs that riff on COVID-19 pandemic

Sooke to allow restaurant patios on streets and in parking lots

The virus has had major impact on local businesses, says Sooke mayor

Traffic redirected after crash on McKenzie Avenue

Saanich Police responded to Thursday evening collision

Mission prison COVID-19 outbreak ends, 9 new cases in B.C.

New positive test at Port Coquitlam care home

Facing changes together: Your community, your journalists

The COVID-19 pandemic has changed the world in ways that would have… Continue reading

VIDEO: Humpback whales put on quite a show

The ‘playful’ pod lingered by a Campbell River tour operator’s boat for quite some time

Getting hitched at historic B.C. gold rush town still on table during COVID-19 pandemic

Micro-weddings, online visits, offered at Barkerville Historic Town and Park

Stolen gargoyle returns to its perch on central Vancouver Island yard

Petey, a concrete gargoyle statue, was returned by Nanaimo RCMP after being found by city crew

Revelstoke woman finds welcoming letter on her Alberta-registered truck

There have been multiple reports online of vandalism to vehicles with Alberta licence plates

Spirit bear possibly spotted in West Kootenay

A local resident spotted the white-coloured bear while on an evening trail run near Castlegar on May 27

B.C. businesses ‘can’t shoulder burden’ of COVID-19 sick pay

Trudeau’s plan should be tied to federal emergency aid

B.C. teacher reprimanded for sharing homophobic and sexist memes, making racist comments

Klaus Hardy Breslauer was accused of making a laundry list of concerning decisions as a science teacher

Most Read