A widely inclusive financial plan for 2020 has officially been set in place for the Capital Regional District.
This year, the CRD, Capital Regional Hospital District, and the Capital Regional Housing District joined forces with their financial plans, which will allow the groups to be more strategic with funding resources and support initiatives.
The combined fund plans are said to be unique for each municipality, electoral area and First Nation, but the “consolidated operating portion” equaling $340 million, will support a variety of regional, sub-regional and local services.
The operational portion includes paying for the daily business of the CRD, including labour, supplies, programs, services and repayment of debt for major projects. This balance is funded from multiple sources, nearly half being comprised from sales of services, 25 per cent comes from requisitions, and other revenue sources such as grants.