The Regional Board for the Regional District of Central Okanagan (RDCO) and the Central Okanagan Regional Hospital District (CORHD) adopted the 2025-2029 financial plans on March 20, 2025. With substantial budgetary allocations and strategic planning, these financial blueprints aim to cater to essential services, infrastructure improvements, and healthcare upgrades essential for the region. Under the mandate of the Local Government Act, the RDCO must develop and approve a five-year financial plan by March 31 each year, ensuring rigorous financial planning and accountability.
RDCO’s Financial Plan Overview
The RDCO’s financial plan for 2025-2029 outlines a comprehensive operating budget of $70.8 million for 2025, representing a 7.2% increase from the preceding year’s budget of $66.0 million. This growth underscores the commitment to enhancing emergency management, upgrading critical infrastructure, and prioritizing environmental stewardship. Key investments highlighted by Loyal Wooldridge, Chair of the Regional Board, stress the need for robust safety measures, essential service enhancements, and significant park infrastructure to accommodate the rapidly developing population of the region.
Capital and infrastructure improvements are key components, with an estimated $34.2 million earmarked for 2025. Funding for these projects is derived predominantly from reserves and grants, addressing crucial needs. Notable projects include the allocation of $4 million in grant funding for a new facility for Central Okanagan Search and Rescue, $1.05 million dedicated to enhancing curbside food waste collection services, and $275,000 allocated for playground replacements in Mission Creek and Scotty Creek parks. These investments aim to create a sustainable and resilient community.
Tax Impacts and Public Engagement
Tax implications vary across the region, as regional districts do not adhere to a uniform tax rate, affecting property owners based on location, services, and property value. Preliminary tax impacts are detailed for different communities in the Central Okanagan, with a focus on average house values, annual tax per house, and the change from the previous year. The RDCO has proactively provided a tax estimator tool on its website to assist residents in calculating their specific tax breakdown, ensuring transparency and clarity.
Engaging the public was a pivotal part of the financial planning process. The draft financial plan, initially presented to the Board in January 2025, underwent public scrutiny and feedback through an extensive period from January 10 to February 6, including an in-person meeting on January 30. This inclusive approach promoted transparency, allowing residents to voice their opinions, raise concerns, and contribute insights, fostering a sense of community involvement in the financial decision-making process.
CORHD’s Financial Plan and Healthcare Investments
Parallel to the RDCO’s adoption, the Central Okanagan Regional Hospital District (CORHD) Board approved its own five-year financial plan on the same day. This plan is meticulously designed to address the growing and aging population’s healthcare needs, ensuring that healthcare facilities are equipped with state-of-the-art technology and resources. Tom Dyas, Chair of the CORHD, emphasizes the urgency of these financial investments to maintain and upgrade healthcare infrastructure and services in the region, which are critical for long-term community well-being.
The 2025 budget includes a formidable $40.3 million for capital projects requested by Interior Health, with $25.7 million allocated for new projects—a substantial increase reflecting the necessary focus on healthcare development. One primary highlight is the Cottonwoods Long-Term Care project, a $74.75 million initiative aimed at significantly improving resident care, showcasing the Board’s commitment to enhancing the quality of life for long-term care residents. This project exemplifies the dedication to addressing the present and future healthcare challenges in the region.
Collaboration with Interior Health
Effective collaboration was further solidified in late 2023 when Interior Health signed a memorandum of understanding with seven Interior regional hospital districts. This agreement aims to enhance information sharing, transparency, and collaboration, setting a framework for regular project updates and additional capital forecasting. Such partnerships are vital in aligning financial plans with the evolving needs of residents, ensuring that investments are strategically directed towards areas requiring immediate and future attention.
Regular updates and forecasting facilitated by this agreement will help stabilize financial planning, aligning them with the dynamic healthcare demands of the Central Okanagan. This collaborative effort ensures that planning is adaptive and responsive to the needs of residents, prioritizing projects based on critical assessments and data-driven approaches, ultimately fostering a healthier community.
Financial Contributions and Key Projects
On March 20, 2025, the Regional Board for the Regional District of Central Okanagan (RDCO) and the Central Okanagan Regional Hospital District (CORHD) approved their financial plans for the years 2025 to 2029. These plans incorporate significant budget allocations and extensive strategic planning, aimed at supporting necessary services, infrastructure developments, and vital healthcare upgrades for the region. Under the Local Government Act, the RDCO is required to formulate and endorse a five-year financial plan by March 31 every year. This ensures thorough financial management and accountability. The plans not only address current needs but also anticipate future challenges and opportunities, setting a robust path for the district’s growth and sustainability. By aligning financial resources with regional priorities, the RDCO and CORHD demonstrate their commitment to fostering a resilient community, capable of adapting to evolving demands while maintaining a high standard of living.
