Sunday, January 7, 1996 - North Shore News - 14 © District dialogue News from Around the District of North Vancouver B elcome to this feature, Highlights of the ‘designed to provide 1996 Budget J regular and timely information on what's ha pening inthe P What's the bottom line of the 1996 Budget? No tax levy increase is indicated. In December, Council endorsed the 1996 Provisional Operating Budget of $61,398,176 anda 7 Capital Budget of $29,878,102. Formal adoption of the 1996 Budgets will occur in mid-January. 2 District of North Vancouver, Turn to this page every month and visit: us onthe internet at District InfoWeb Operating Budget indicates no tax levy increase While the Operating Budget increases by !% over 1995, there is no increase in the tax levy for 1996.In 1996,the District is looking at significant increases in costs relating - (http://www.district.north-van.be.ca]. . ReViewing the Plan for our Community to wage settlements, cost of living increases, service improvements and funding for capital items representing over $2.9 million.In order to achieve Council's target of 0% increase in the tax levy, these items are being absorbed through increased non-tax revenues and cost reductions through efficiency improvements. ‘ver wonder where you will be living ten years from now? Twenty years from “now? if you stay where you are, will Capital Budget funds major projects Major projects funded in the Capital Budget include: * « completion of the RCMP Building, the Doliarton Highway Realignment. the 1996 Land Development Program, the Montroyal Connector, ¢ Parkgate Community Park and + the closure of the Premier’ Se. Landfill. Inaddition, Council adopted a resolution to explore and discuss alternatives and alternate funding sources for the Parkgate Recreation facitiry. - . The Capital Budget also incorporates a funding program that increases the Operating Budget's contribution to capita! expenditures by two per cent of the tax i levy each year. Council's objective is to ensure, by 001, that certain capital expenditures, ad reconstruction and computer equip- Changes tothe Budget Process kicks off February 2 at an Open ‘ict Hall, and i its just the beginning» “0 0 you need | to renew a library book? Procrastinaté no longer} pick up your “touch-tone phone, dial 981-3190 and os tiy the District Library's new TELECIRG service. / A “voice” leads you tt through a variety of options, including renewals and information on fines ‘ awing or titles on hold, Busy readers can now spend less time on library “business” and more “3 time ons the important business of reading, ‘Council's 1995/97 Corporate Business Plan identi- ‘ fied “Changing the Budget Process” as a priority. iin response to Council's directive, many new initia- d tives have been implemented for the 1996 budget ] cycle.These include: a move from annual to three-, year budgets; implementing bottom line budgeting _ " and encouraging accountability; providing incentives to departments ta’ save money and generate new non-tax rev- enue;and increasing the focus on service levels and priori- tles. . Financial Planning for the future Council at their December 18ch meeting adopted the. Capital Management Plan,a long term financing strategy designed to ensure an adequate source of funding for future capital projects. The Plan calls for all proceeds from the sale and lease of municipal land to be placed in the District's Heritage Fund. The Heritage Fund will be built up to provide an income stream to preserve the District's assets and fund capital projects to meet the future needs of the community. In the future,major capital projects or land acquisitions not funded from the Heritage Fund.may be submitted to refer- endum and repayments added to the annual tax levy. authorized Property Tax’ Prepayment. Plan: If you sign tp in -early January, - you can-make four monthly payments for your’. 1988 taxes, which become dle i in July. As itis you can continue for. the fal year ‘of pay ments in 1997 and ii the future, Those who enrolled in this program ast year not only spread payments out over 10 months but earned tax-free interest at 3% per annum: And, due to the small increase in 1995 taxes, many received a refund of some of their ¢ contti- : bution. as 1 For more information, call the Tax Department * ‘at 990-2488 or our Property 7 Tax InfoLine,a 990-2280.