The Regional District of Central Kootenay unanimously adopted its 2014 budget Thursday with a 1.4 per cent tax decrease, thanks to the discovery of a big surplus.
Chair John Kettle said they will use a reserve of about $1.5 million in the regional district’s general administration fund, which all areas pay into, to offset taxes this year and next.
“I’m a proponent of taxing for what we need when we need it,” he said. “Others say you’re always going to have shortfalls, so carry any surplus forward. But we split it down the middle and I’m happy.”
Kettle praised chief financial officer Stuart Horn, who joined the organization last year: “I can’t say enough about him and the fact he brought us the hard numbers. The directors basically gave him a standing ovation.”
The overall budget is worth about $60 million. It’s the fourth straight year the budget was adopted without objection.