1. District of Summerland 2008 Financial Plan

2. 2008 Financial Plan Summary Total departmental operating expenditures of $16.8 million Total departmental capital expenditures of $6.7 million Property tax rate for municipal taxes will be increased by 4.9% Total municipal taxes collected for 2008 will be $5.6 million

3. 2008 Financial Plan General Revenue Sources

4. 2008 Financial Plan General Fund Expenditures

5. 2008 FINANCIAL PLAN Water Revenue Sources

6. 2008 FINANCIAL PLAN Water Fund Expenditures

7. 2008 FINANCIAL PLAN Sewer Revenue Sources

8. 2008 FINANCIAL PLAN Sewer Expenditures

9. 2008 FINANCIAL PLAN Electrical Revenue Sources

10. 2008 FINANCIAL PLAN Electrical Fund Expenditures

11. 2008 Financial Plan Expenditure Highlights Major Public Works expenditures for the year includes improvements to drainage on Victoria Road from Dale Meadows to Dunham Crescent at a cost of $350,000 Public Works will spend $155,000 to replace the Street Sweeper $325,000 on design work for improvements to Rosedale and Prairie Valley Road subject to approval of the Loan Authorization Bylaw

13. 2008 Financial Plan Expenditure Highlights The next phase of the landfill plan will commence with the new landfill area having the liner extended with costs for 2008 being $330,000 and the construction of a new transfer station for $75,000 The relocation of the Sani-dump Station at Peach Orchard Park at a cost of $100,000

14. 2008 Financial Plan Expenditure Highlights Parks and Recreation will complete the two new ball fields at the Dale Meadow Field Complex at a cost of $100,000 A new gazebo and public area will be constructed at Peach Orchard Beach Park in partnership with the Rotary Club, Lions Club and the Province of BC through its Spirit Square Program with a total cost of $155,000

15. Peach Orchard Gazebo

16. 2008 Financial Plan Expenditure Highlights The Parks and Recreation Department will complete work on expanding Kin Beach Park with the development of the 4 former municipal rental houses along Okanagan Lake and installing landscaping and public walkways with a total cost of $100,000

17. 2008 Financial Plan A typical house in Summerland has an assessed value of $354,000 in 2008 This same house had an assessed value of $284,000 in 2007 This house increased in market value in 2008 by 24.65% The overall average increase in market values for residential properties for 2008 was 28.65%

18. 2008 Financial Plan The typical house assessed at $354,000 in 2008 will pay $1,845 in property taxes before the home owner grant. The municipal portion of the taxes on this property is $820 with school taxes being $779. Other taxing authorities such as the Regional District make up the balance.

19. 2008 Property Taxes