Image Credit: CFJC Today

By Chad Klassen

CITY OF KAMLOOPS BUDGET

City’s finance director says B.C. government’s support for municipalities won’t change much

Apr 16, 2020 | 2:36 PM

KAMLOOPS — The City of Kamloops says the new safety nets for municipal governments in B.C. gives it a little more flexibility to balance the budget, but the city’s director of corporate services says cuts will still need to be made and certain projects will have to be delayed.

Kathy Humphrey joined Kamloops mayor Ken Christian on a conference call with the Ministry of Municipal Affairs Selina Robinson on Thursday afternoon (Apr. 16). The announcement by the province allows the City of Kamloops and other municipalities around the province to draw on more reserves to cover bills.

“It allows us to borrow from capital reserves, whereas previously we were just looking at operating reserves,” said Humphrey. “But’s it a borrow, an interest-free loan to yourself. You have to pay it back later, which is problematic in future years.”

Humphrey says even with the ability to dip into more reserves, the City is not in a position to be deferring people’s property taxes.

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“We don’t need [property taxes] today in April, but the city receives generally over $100 million each year in property taxes in the end of June and beginning of July,” said Humphrey. “So in order to continue with our operations and all the essential services that the city provides, without completely dipping into all of our investments for cash flow, the City really does need some of that cash to come in.”

Humphrey did not specify on project that will be delayed. The final decision will be up to city council.