Sun Peaks Mountain Resort Municipality will present the 2021 municipal budget and updated five year plan to the public on May 3 via a virtual meeting. It is then set to be presented to council for approval on May 10.
The public can join the ZOOM meeting at 2 p.m. on May 3 to participate. The link will be posted in the agenda located in the document section of the municipality’s website, which will be available this Friday. The public can also watch the live meeting broadcast from the municipality’s Facebook page, and participate through the comments section which will be moderated by municipal staff.
The preliminary budget was already approved by council in December 2020 to allow for continued operations into the new year.
This year’s budget includes an increase in property taxes, declines in water and sewage usage revenue and a drop in interest rates for money borrowed on capital projects in 2020.
The 2020 property tax increase was postponed last year due to COVID-19 and split between this year and next. This year will see the regular 3 per cent increase plus the 1.5 per cent increase in lieu of no change from the year before totaling a 4.5 per cent jump.
It is anticipated large capital projects and loans related to water infrastructure will be included.
Other revenue streams, such as the Municipal & Regional District Tax (MRDT) and Resort Municipality Initiative (RMI) may also be included in the discussion.