Proposed Five Year Financial Plan
The Five Year Financial Plan was proposed at a special City Council meeting last week.
In the proposed budget presented by Acting Chief Financial Officer, Lynda Sowerby, Powell River residents would see a 1.5% increase in taxes for the next year, followed by a taxation cap in the remaining years…
Taxation is the main source of revenue for Powell River, as outlined in a chart presented by Sowerby. This is due to the relatively low price of other services in the city, such as The Recreation Complex.
Before the Five Year Financial Plan can be adopted, it will be presented at a second meeting at City Hall on Wednesday.