The District’s long-term debt increased by $1,542,086 in 2015, from $10,826,802 in 2014 to $12,368,888 in 2015.
This net increase was the difference between a $2,615,000 borrowing for the Okanagan Rail Corridor Trail Land
Acquisition and debt principal and actuarial adjustments which totaled $1,072,914. A break-down of the District’s
debt as at December 31, 2015 is shown in the chart below.
42% of the District’s debt is attributable to the general fund and 43% and 15%, respectively, is attributable to the
sewer and water utilities. 9% of the District’s debt has also been incurred for specified area projects and as such is
paid for by specific taxpayers within the benefiting areas.
Municipal Overview
The District is guided by Council’s strategic plan and the related priorities that follow from the plan. The District has
undertaken key initiatives that follow the overall plan like the Transportation for Tomorrow program and an Official
Community Plan review.
Developed over the past three years, Lake Country’s Transportation for Tomorrow 20-year infrastructure plan
received the go ahead in December 2015 with the adoption of a funding strategy that will allow citizens to
immediately realize the benefits of the plan, as the road renewal and upgrade projects are rolled out starting in the
spring of 2016.
2015 Annual Report
61 | P a g e