The Comox Valley Regional District board has adopted its 2023-2027 financial plan which includes a consolidated budget for 2023 of $173.8 million, comprised of $91.9 million for operating and $81.9 million for capital projects.
“New to the financial planning process this year was incorporation of our internal cost of carbon policy to help reduce our carbon footprint corporately and dedicate $160 per one tonne of CO2e into a reserve account to fund future projects,” said board chair Jesse Ketler. “Setting an internal cost for carbon is going to help us prioritize low-carbon options, avoid climate-related risks and set up on the path of achieving net zero corporate emissions by 2050.”
The CVRD delivers 102 distinct, stand-alone services across the Comox Valley. This year’s financial plan results in an increase in property tax requisition revenues of 10.38 per cent from 2022. An additional $3 million to maintain existing services is part of the requisitions for 2023 with major drivers including:
•An additional $1 million for recreational complex service to support aging infrastructure needs and give preliminary planning funding for future capital infrastructure.
•An additional $460,000 increase to support fire hall replacements and operational increases for Rural Fire and Search and Rescue Services.
•$450,000 to support a rise in operational costs and expansion of transit services.
•$200,000 in one-time support for affordable housing projects on both Denman and Hornby Island.
•$175,000 for increased cost allocations from the rural areas to support the Vancouver Island Regional Library District.
•$118,500 to support additional recreation grants in 2023 such as $75,000 for further capital works to the Courtenay & District Outdoor Memorial pool and $18,000 for the development of a Cricket pitch for the Comox Valley Cricket Club.
•$70,000 to support additional requests for capital funding to address homelessness.
Unlike municipalities, the district does not collect property taxes directly. It requisitions funds from each local government on behalf of residents, with the province issuing and collecting rural property taxes in each rural area. The tax impact on the average home in each area varies, depending on the often unique mix of services provided to each area.
Two new local service areas have been established in 2023. One resulted from the conversion of the Graham Lake Improvement District to a regional district service. This service, funded through a user rate, provides potable water to 67 properties on Denman Island, and 22 properties in the Denman Island Water Local Service Area. The second is a Regional Parks and Trails service, with an initial tax requisition of $275,000 in 2023, which as part of its mandate will strive to protect and preserve significant natural areas, and to develop a network of regional greenways and trails.
“The 2023 financial planning process held a high focus on maintaining current service levels, requirements of new services and furthering the board’s key initiatives and strategic priorities. In an economic climate of high inflation, every effort was given to keeping service delivery costs low,” said Lucy Wiwcharuk, chief financial officer. “This year’s budget also addressed the end of COVID-19 relief measures and the return of rates for water services to pre-pandemic levels.”
The $81.9 million in capital funds for 2023 provides financing to continue progressing with multiple projects and supports essential asset management life cycling. There are $205 million in planned capital projects across the five-year capital plan. Key projects include:
•$1.7 million in 2023 to construct a new fire rescue services building at Mount Washington. Additional fire hall replacements or upgrades are also planned to support rural services including Denman Island ($2 million), Union Bay ($3.5 million) and Fanny Bay ($250,000);
•$45 million in 2023 for the Comox Valley Sewer Conveyance, a critical multi-year construction project to replace the conveyance pipe and upgrade pump stations that move raw sewage to the Brent Road treatment plant. The estimated cost is $101 million;
•$5 million in 2023 for the proposed extension of the Comox Valley water system southward to parts of Courtenay, Royston and other lands. The overall projected of this project is $21 million;
•$5.7 million to complete cell no. 2 of the engineered landfill at the Comox Valley Waste Management Centre in Cumberland; and
•$1.99 million to complete the Regional Organics Composting Facility located in Campbell River.
These projects are in addition to regular services including land use planning, fire protection, electoral areas parks and greenways, building inspection, drinking water treatment and supply, and operation of the waste management centres and recreation facilities.
www.comoxvalleyrd.ca/currentbudget
