City of Powell River Council has approved its five-year financial plan for 2024 to 2028.
At the March 21 city council meeting, councillors approved the budget without comment. The five-year financial plan includes revenue of $62.4 million and expenses of $48 million, for a surplus of $14.5 million.
The five-year financial plan proposes to raise $24.5 million in property taxation. Other large revenue sources include $12.6 in fees and charges and $18.1 in government transfers.
On the expense side, general government services will amount to $8 million, protective services will cost $8.2 million and transportation services will expend $7.1 million. Environmental development is a $5.5 million item, parks, recreation and culture expenditures amount to $7.4 million. Amortization and accretion comes to $4.5 million.
Residents pay 59.3 per cent of the total property tax, major industry pays 22 per cent and businesses pay 16.6 per cent.
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